(Closed) Savings?

posted 6 years ago in Married Life
Post # 3
1106 posts
Bumble bee

I’m saving up for a trip to Las Vegas.  It’s for my job but since I’m an independent consultant for the company, I pay for everything myself and hope I sell enough over the year to make up for it. haha.

I haven’t yet paid for my flight so I need to save at least $300 for that!  But also, I want to have a couple hundred in cash so I can do some shopping, for tips, food and anything I want to do. 🙂


Edit: I am not a newlywed, however but my SO/BF and I will be moving in together a month after my trip and also need to save for that.

Post # 4
10573 posts
Sugar Beekeeper
  • Wedding: January 2011

Right now we’re saving for a house.  We aren’t planning on having kids (never know what will happen in the future) and for now, we’re not too worried about retirement.  I’ve seen graphs about paying off a mortgage vs. investments, and they tend to do about the same.  We’ll worry more about retirement later (but Darling Husband is still contributing to RRSPs now).

Right now, it’s all DH’s salary, and since he doesn’t have his professional designation yet, it should go up decently over the next few years.  I’ll start working within a year, so our situation should be much better in a year’s time.

Post # 5
4109 posts
Honey bee
  • Wedding: December 2011

We’re trying to save right now for various plane tickets/trips to his home state to visit his family more throughout this year. Also for TTC later this year.

Post # 6
16213 posts
Honey Beekeeper

We are saving for a house and also just in general for anything we may need or want. We definitely aren’t able to save anywhere near $2000/month, but since we’ve been married, we’ve been able to pay our bills and save something every month, so I consider that a success. Especially because my husband is just working a couple of part-time jobs while he looks for something full-time.

Post # 7
2407 posts
Buzzing bee

We’re saving for a downpayment on a house. Luckily we’re able to save more than $1,000/month. 

Post # 8
3968 posts
Honey bee
  • Wedding: September 2014

I wish we would be able to save that much per month! Right now we’re on grad student salaries and have loans to pay 🙁

Post # 9
813 posts
Busy bee
  • Wedding: December 1969

WE are doing something similar to you. Each week one of us gets paid, and automatically money transfers into our savings account. That is about $2,000 per month. When my Fiance gets paid we also transfer about $500-1000 into our wedding account, and if there is still what seems like “extra” put some onto his truck. Using this method we have a lot saved and paid of my car in about 8 months (instead of the 6 years it was originally financed for). You are on the right track! I’d just suggest always putting the same amount in, and not less. If you need to put less in.. don’t do it and cut back else where!

Post # 10
2106 posts
Buzzing bee
  • Wedding: September 2012

FI’s been saving for his retirement and a downpayment since he was 10.  He contributes to his Roth IRA as well as to his 401K since his job matches 100% up to a certain amount. 

We have SO much that we want to do since we’re buying a house.. closing next week.  Things that will be eating up our money: my $30k in student loans debt, fence for the new house, finishing the new house’s basement, our epic 2 week honeymoon, other travel.. yeah.  Fiance is the one who manages our finances and says what’s a go and when since he loves managing money.  He’s done pretty well in the market.  His after-tax-after-food-and-morgage-and-everything savings is about $2k a month (just him).  We’re not having kids, so that makes all the travel we want to do extremely affordable.

Our secret to success is to avoid debts/paying interest at all costs, buy nice (expensive) items once and don’t replace them for a long time ie we’re getting nice furniture for the house piece by piece instead of blowing a month’s savings.  We also rarely eat out and usually only have a drink or two at bars.  We wait to go to the stores until there are several items we need and likewise save items on amazon until we have enough for free shipping.  All those little things won’t give you an extra grand each month (unless you eat out a LOT), but it does add up. 

Post # 11
1304 posts
Bumble bee
  • Wedding: September 2011

We are saving 40% of our net income.  We spent a chunk on our wedding, then we replaced my husband’s 10-year-old car.  We are also taking a delayed honeymoon this summer.  (I am refering to this as our “splurge year”!)  The rest of our savings will go towards buying a condo, but we already have a decent downpayment saved.

Post # 12
2702 posts
Sugar bee
  • Wedding: November 2011

we save just to save. We would like to have a nice chunk of change for an emergency fund. Darling Husband wants to have 8 months pay in our savings. We’re not there yet but we’re getting there! We have a lot in student loans. We are also saving for an italy trip i am taking next may….i have about 80% of it saved already!


Post # 13
4371 posts
Honey bee

We just like to save. A retirement, student loans, traveling, house-decorating general fund is what we’re going for. I’ve been using mint and we’re lucky to be able to earn more than we spend despite living in a very expensive city. 

Post # 14
3886 posts
Honey bee
  • Wedding: September 2011

every couple should do a semi-annual financial checkup day. You don’t really need a CPA or an investment specialist to do this, but it never hurts to get a professional to look over your finances every 2-5 years depending on your circumstances.  But twice a year, sit down and focus on your finances. Make it a formal thing and not just “when we get to it.”  Print out all your assets and debts and your pay statements; even better if you have a credit card that will analyze by category where all your money is being spent (we love Amex for this, as their statements are pretty accurate— not much goes into that “unknown” category, plus you have no choice but to pay off the Amex in full every month, so no problems with balances that just explode). Change your direct deposit distributions as needed, sending more to savings or 401(k), or less, as your current situation warrants. And have a goal, even if it’s a very generic goal.  For example, my Fi and I don’t really “need” anything and we earn enough that a “big” purchase like a new TV doesn’t really require its own savings account, so our current goal is to reach $100k in savings.  We’re not sure what we’re going to do with it (we’ve been talking about starting some sort of business) but without an actual goal to work towards, it is much harder for us to stay focused. So the actual dollar amountis our goal.

Post # 15
14497 posts
Honey Beekeeper
  • Wedding: June 2011

We dont really do anything we think is special except that we are just natural savers.  Not eating out, not paying $10/drink at a bar, buying off the weekly circular, deal hunting for anything not essential like clothing, home decor, electronics, etc is all natural for us.  I dont shop simple sales, I shop clearance.  When we were shopping for a house, we made our own budget for it and targetted for one net salary after full 401k contributions.  We had to go over a little, but felt it was worth it… we definitely wanted to save and all, but we also need to enjoy life and the money we’re making.  So even though we dont make a budget since we feel every purchase is a smart and/or necessary one or really feel restricted we save close to half our take home pay and also max out 401ks and Roth every year.  Our over all goal is as early retirement as possible while enjoying life getting there.

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