How much money did you and your partner have going into marriage?

posted 4 months ago in Engagement
Post # 46
Member
49 posts
Newbee
  • Wedding: July 2020 - Stroudsburg, Pennsylvania

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MiaSuperstar :  I can’t even fathom myself and my fiancé each having approx. $350k saved up by our early 30s (I’m just 30 now). Good for you two, but wow, now I’m feeling even more low lol. I would’ve thought that amount is something most people wouldn’t even necessarily reach in later life. And I grew up upper middle class, with money set aside for college (which I’m only just finishing now). 

Post # 47
Member
2465 posts
Buzzing bee
  • Wedding: March 2017

Nothing if you count my student debt. If you don’t count student debt, maybe 10k or so? 

Post # 48
Member
115 posts
Blushing bee

Probably like $7k in savings but we don’t own a home. And we have just under $50k in outstanding student loan debt. But we are both at the beginning of our careers so hopefully we can pay that debt off in a timely manner and save up for a house in the next couple years. We are 25 and 26

Post # 49
Member
138 posts
Blushing bee

I had $120k (put into my house i had bought before we met) and he had $10k.

Post # 50
Member
762 posts
Busy bee

We had little when we were married 8 years ago, less than 20k? Even 20k seemed like a huge amount to me then.

I had just started working after what seemed like a frustratingly long time getting my PhD, and my husband had sunk most of his savings into a down payment for a home he’d just bought..

We are both in professions that pay well. 

 

Post # 51
Member
161 posts
Blushing bee
  • Wedding: August 2018 - Melbourne, Australia

Sweet FA and still have sweet FA lol. Live week to week, that’s just how it is at the moment. Grateful to have a roof over our head (long term rental) and usually enough for cheap food on the table.

Post # 53
Member
900 posts
Busy bee
  • Wedding: August 2014

He was 31 and I was 32 (nearly 33) when we got married.  We had about 250k between the two of us which includes what we put into our house, investments and retirement savings.

 

Post # 53
Member
225 posts
Helper bee

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MiaSuperstar :  That is crazy impressive! Only a few years older than me but I’ve got only ~5k because I’ve been working hard to pay off student loans (3 months left since I’ve been paying 2.5x the required payment. I can’t imagine having that much saved, but then my gross yearly income is in the 40s so it’d take forever and my career was a bit slow to get started because I went back to school for another year at 25. My bf has around 15k so far for the house we hope to buy later this year but the house itself should be well within our means together.

I’m blown away by what some people have been able to save! I’m very reasonable with my money (barely ever eat out, no cable, REALLY cheap living situation, bring my lunch, very carefully planned out car budget, etc) but all of that extra has been going towards paying off student loans and once that’s done, it’ll all go towards the house and some savings. 

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ronmcdon :  I’m shocked you guys were in such good shape from such a young age! At that age I was about 35k in debt from college, no career type job just yet, definitely no assets beyond a car that ultimately sold for about $1800. Kudos to your parents as I assume they paid for college (if any) and taught you about good financial habits!

Post # 54
Member
200 posts
Helper bee

we got married last June after being together for 4.5 years, and in business together for 3 of those years. 

 after taking off what we owe, our assets are probably around the million dollar mark. 

when we got together (me 26yo DH 31), I already owned my house in town with around $100,000 equity and my husband had some machinery etc probably worth around $400,000.

In the last 5 years together we’ve worked extremely hard to improve that position significantly. I mean 90 hours of work a week each for the most part, in an extremely stressful, all consuming industry. but it is paying off. 

 

Post # 55
Member
762 posts
Busy bee
  • Wedding: March 2019

Maybe $60k? We don’t own a house so this is what we had in investments and savings. 

Post # 56
Member
225 posts
Helper bee
  • Wedding: October 2019

Prior to getting married we purchased a house together when I was 25 and he was 27 (husband asked what I wanted first a wedding or house- I picked house). The down payment on our home was 12k (I put down 8k he put down 4k since I had more savings than him). We got married this past year (he is 30 I’m 28) and we both have 2k in our separate accounts and 9k in our joint account.

My husband is a chef and I work as a paralegal.

Post # 57
Member
762 posts
Busy bee

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wildflower3 :  It’s really easy to save a lot of money.. when you make a lot. When I was a grad student on a stipend, with no kids or responsibilities, an extra $50 would throw my budget out of whack. I had to be so disciplined about everything to save $500 a month. 

When you don’t make a lot of money, even the most aggressive saving can only get you that far. I’m constantly surprised that more people in this country aren’t really mad about wage and wealth inequality. Statistically speaking, only the wealthy are faring well for themselves, everyone else is doing worse relative to the previous generation. 

Post # 58
Member
225 posts
Helper bee

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techmom :  Yes! I make about 45k and my bf makes about 60k but is hopefully about to get a promotion. In every job I’ve had, there just isn’t any room to move up – my type of job is usually a very small department unless you work somewhere big like Apple or Indeed. 

From what I’ve seen, coming out of university with zero debt is also a common factor – my parents helped for sure but weren’t able to cover everything so I’ve been working hard to pay off a 10 yr note of 30-35k in about 5-6 years. If that hadn’t been the case, I could’ve had 20k+ saved from that same money in the same time. Because of this, my bf will have to pay the down payment and luckily the house we plan on buying should be 200-235k or so but we’ll still have PMI and such. The payments would be within out means pretty well but still – I had been DREAMING of finishing my student loans and then taking 6 months to pad up my savings, but with our timeline we’ll be transitioning to the house if all goes well, so my budget won’t really change.

My mom had little to nothing going into her marriage; she was nearly 22 when she got married and my dad was 27 but he already owned a house as an engineer. But she budgeted well and neither of them were ever into higher end possessions, so they managed okay!

Post # 59
Member
1111 posts
Bumble bee
  • Wedding: August 2017

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techmom :  Totally agree.  And it’s not just about salary–but also about assets gifted from family via trust funds, inheritances, gifts in the form of property or down payments. Unless the young person is a top 1% earner (a celeb, pro player, top paid doctor, etc), it’s unrealistic to have so much money saved at such a young age without benefiting from extensive familial support. 

I am very proud of what my husband and I had at 24 and 25 when we got married because we did it all on our own with no help. We put ourselves through college, paid for our own wedding, paid for our house downpayment. Obviously, all that money would have been saved if we didn’t have to cover it ourselves. 

Post # 60
Member
220 posts
Helper bee
  • Wedding: October 2020 - Concord, Ontario

We will both be 23 by the time we get married. I am a teacher and she is a nurse. We have $250000 in savings

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