TinyStar
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« on: September 01, 2006, 11:57:21 AM » |
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Anyone have some good cost-saving tips for a couple just about to embark into the outside world on their own? My fiance and I are getting married in October and staying with my folks until June-July of this next year or earlier, depending on our finances.
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Sister
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« Reply #1 on: September 01, 2006, 05:27:12 PM » |
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Look for deals on apartments. Many complexes offer specials at different times of the year, such as "sign up now and no security deposit" or one month free rent. That's a big saver right there.  |
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kelkat
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« Reply #2 on: September 01, 2006, 05:58:44 PM » |
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My advice is to stay with the in- laws as long as they will have you and put the money you would have spent on rent or mortgage payment into a savings account.
Also, live off one income and put the second income in savings as well. The more you save now the better off you will be tomorrow!
Last, I would use all that money you will be saving to buy a small house out right, live in it a couple of years (still saving), and then sell it to upgrade when you start a family.
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capitalist_junkie
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« Reply #3 on: September 02, 2006, 07:26:09 AM » |
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Also think about maybe sharing a house with friends if you need space from the parents. It's definitely a help!
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Melos
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« Reply #4 on: September 02, 2006, 07:58:35 AM » |
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If your goal IS to buy a house, I agree with the others. Rent the cheapest place you can stand in a decent neighborhood and save every penny. Buy generic, do without, and definatlye.... learn to talk about money without fighting. Money troubles are the #1 reason for break-ups.
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Sister
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« Reply #5 on: September 02, 2006, 11:12:16 AM » |
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Buying a really inexpensive fixer-upper is a financially smart early move...however, it can place a ton of stress on a relationship, so talk a lot about priorities and expectations.
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kokotai
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« Reply #6 on: September 02, 2006, 02:26:41 PM » |
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Set a budget and stick to it. Also plan to pay bills and such together.
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Sister
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« Reply #7 on: September 03, 2006, 09:00:52 AM » |
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Use a spreadsheet for your budget. That's what we do, and it makes life easier. Give yourselves a small cash allowance for things like trips to the convenience store and whatnot.
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TinyStar
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« Reply #8 on: September 05, 2006, 11:35:40 AM » |
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I love the one income idea. I currently work from home and should make around $300-400 a month. Not a lot but I think we'll be sticking mine in savings and living off his. Fantastic idea!
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Melos
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« Reply #9 on: September 06, 2006, 07:09:16 AM » |
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That is a good idea Tiny. If they are planning on having children somewhere down the road, I would suggest starting some sort of home business now and growing it slowly until they are ready to have children. That way, they will already have another income in place so someone can stay home with the kids.
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Sister
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« Reply #10 on: September 07, 2006, 06:24:09 AM » |
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A home business idea is smart. Especially considering the cost of childcare! Building up a home business to fall back on later is a smart move.
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kelkat
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« Reply #11 on: September 07, 2006, 07:31:20 PM » |
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Don't just save your money, invest in CD's or mutual funds or something with an actual return.
As for the home business, keep in mind that it has to be something you are passionate about or it will be hard to do. Home business just aren't for everyone!
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Sister
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« Reply #12 on: September 10, 2006, 05:01:01 PM » |
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Don't just save your money, invest in CD's or mutual funds or something with an actual return.
As for the home business, keep in mind that it has to be something you are passionate about or it will be hard to do. Home business just aren't for everyone!
That's very true. I could never sell make up or tupperware, but I love writing and that has worked out well for me. |
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