(Closed) SPINOFF: How much debt did your partner have when you got married?

posted 7 years ago in Money
  • poll: How much debt did you and your partner have the day after you got married?

    0-5k

    5-10k

    10-30k

    30-50k

    50-75k

    75-100k

    100-200k

    +200k

  • Post # 48
    Member
    1278 posts
    Bumble bee
    • Wedding: March 2013

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    @FutureMrsT1221:  I feel awful too but because of my student loans (2 masters degrees and 1 bachelors) right now I make about twice as much as he does. So me making the $330 a momth payment from our account I dont feel as guilty. Once he makes more money than me in a few years Ill feel bad again lol

    Post # 49
    Member
    4027 posts
    Honey bee

    View original reply
    @fvsoccer:  I agree. We always contribute to our retirement accounts because you can’t make up for funds invested in your 20s when you account for compound interest!

    Currently, we have about $23k in combined student loan debt from four degrees (We both have undergrad and grad). Unfortunately, my recent car wreck is causing us to buy a new car (about $20k) and we are having a home built ($265,000). So our debt is about to increase substantially! But all our payments (student loans, cars and house) will only add up to about 55% of our income. We should be able to pay the car and student loans off in the next 3-5 years as well. I don’t see debt as something bad if it is used responsibly. We both use credit cards but pay off the balance each month. We could pay some loans off faster but we make sure we have emergency savings and make retirement contributions first (the pay yourself first principle). 

    Post # 50
    Member
    507 posts
    Busy bee
    • Wedding: August 2013

    None. But we are in our early 40’s. We also have a considerable amount in retirement savings. I’m also going to fully fund my kids college (undergrad) and I contribute substantially to that every month. And reading about all the student debt everyone has just further cements my determination not to let my kids come out of school with that hanging over their heads.

    Post # 51
    Member
    1073 posts
    Bumble bee
    • Wedding: August 2013

    Zero. I brought all of the debt baggage! :/

    Post # 52
    Hostess
    8573 posts
    Bumble Beekeeper
    • Wedding: October 2014

    0$ debt. Everything of ours is paid off, but we are highly considering a newer car.

    Post # 53
    Member
    38 posts
    Newbee
    • Wedding: November 2012

    Just his car which is like $13k. No credit card debt or student loan debt. 

    ETA: I had $0 debt. I paid off my student loans a year after graduation by living with my parents and working through school. I paid off my car the year before too. We’ll have mortgage debt in a year or so.

    Post # 54
    Member
    841 posts
    Busy bee
    • Wedding: August 2015

    @freshflowers:  I will probably have about $5000 in student loans left, and we both have car payments (not massive – bought used cars). It feels pretty good to be marrying someone who is debt free!

    Post # 55
    Member
    721 posts
    Busy bee
    • Wedding: May 2014

    The only Debt we have is student loans. Fiance has about 22k and I have 1k. We are paying for the wedding with savings. We both have credit cards, but they get paid off each month. 

    Post # 56
    Member
    1812 posts
    Buzzing bee
    • Wedding: May 2013 - Pavilion overlooking golf course scenery, reception at banquet hall

    Combined we had about 17k in student loans only, but our net worth was/is positive. I think 14k for him, 3k from me. Currently down to 11k and 2k. Neither of us carry a balance on our credit cards, and our cars are paid off (bought cheap and used from family members). When we plan to get a new car, we will have saved for it and pay cash.

    We don’t like debt. Student loans get a pass because the interest rates are so low, but we’re still paying them off quickly. Aggressive goal is to have them paid off by the end of 2014, but might be 2015. I don’t plan to every have a debt again, but business debt may be up for debate/situation.

    Post # 57
    Member
    1108 posts
    Bumble bee
    • Wedding: October 2013

    Not including our mortgage, we had $20,000 combined owing on our two cars when we got married.  After the wedding, we paid off both cars, so now we are debt-free (except the house).

    Post # 58
    Member
    245 posts
    Helper bee
    • Wedding: September 2015

    @freshflowers:  He has about 10-15k in debt, and I have about 5k, not including student loans. Not including the house or car. My student loans are insane, but because I don’t plan on stopping with school until I have my masters degree, and we had a baby this last year, I’m not worried about my student loans (yet).

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