Savings less than 10k - Page 2 - Talk About Marriage
Financial Problems in Marriage When financial times are tough, it adds to the stress we deal with on a daily basis. This section is for talking about how financial problems affect our relationships and ways to cope.

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post #16 of 48 (permalink) Old 10-04-2016, 11:56 AM
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Re: Savings less than 10k

I don't know how old you are, but if you're young then it's normal to not have much saved IMO. Once you pay something off, like your student loan debt, you don't replace it with another loan. Or if you pay off your car loan, you don't run out and get a new car (& new loan). You take some of that money that you were paying on your loan to pay down another debt & to pay into savings.

Also, take a look at where you live. Do you live in a place that has a high cost of living? If so, then you may want to consider moving elsewhere. Your money can go a lot further somewhere that doesn't have a high cost of living.

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post #17 of 48 (permalink) Old 10-04-2016, 12:20 PM
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Re: Savings less than 10k

We have plenty aside in our 401k/IRAs which I have been maxing out since I first started working. I also have an emergency fund set aside, and my goal is to eventually grow it to the point where I can completely pay off our mortgage if needed (the only debt we have). I had to slow down with this due to some work that needed to be done around the house, but hope to get back to adding to it over the next few months. Since where I live it has a very high cost of living, putting money aside early on is important if I hope to eventually slow down when I get older.
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post #18 of 48 (permalink) Old 10-04-2016, 12:28 PM
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Re: Savings less than 10k

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Your money can go a lot further somewhere that doesn't have a high cost of living.
Yeah, but the cheap places to live usually have lower wages and fewer employment opportunities.
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post #19 of 48 (permalink) Old 10-04-2016, 12:37 PM
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Re: Savings less than 10k

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Yeah, but the cheap places to live usually have lower wages and fewer employment opportunities.
True. There are cities however that have decent employment opportunities and a lower cost of living. Stay away from the west coast states especially.
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post #20 of 48 (permalink) Old 10-04-2016, 12:41 PM
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Re: Savings less than 10k

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Stay away from the west coast states especially.

Too late

I love where I live though. I couldn't handle living in a place where it was under three feet of snow in the winter; and hot as h.ll in the summer.

If I had a great job to offset those climate conditions; that would be different. But I don't, so at least I live somewhere that is physically comfortable to live in 95% of the year.
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post #21 of 48 (permalink) Old 10-04-2016, 12:45 PM
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Re: Savings less than 10k

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True. There are cities however that have decent employment opportunities and a lower cost of living. Stay away from the west coast states especially.
Stay away from some of the east coast states as well if you want to avoid a high cost of living (too late for me lol).
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post #22 of 48 (permalink) Old 10-06-2016, 01:43 PM
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Re: Savings less than 10k

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Anyone couples here actually have a savings account more than 10k... we do but its TOUGH to save.. and yes less than 10k in it
I have the savings in a 401K savings plan. You know, the idea that you need to save and not have a company pension plan like good old dad did back in the 50's-70's. Crappy idea if you ask me. Anway....I a substantial sum and I deposit just below the pre-tax contributions allows. The deposits are automatically taken from my check weekly. I have to save because no one else is doing it for me.

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post #23 of 48 (permalink) Old 10-06-2016, 02:04 PM
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Re: Savings less than 10k

I have a substantial retirement account but very little in readily-accessible savings.

I blame the kids.
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post #24 of 48 (permalink) Old 10-06-2016, 10:14 PM
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Re: Savings less than 10k

We're starting medical school tuition payments next fall...

Definitely my daughter's fault
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post #25 of 48 (permalink) Old 10-08-2016, 06:36 AM
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Re: Savings less than 10k

You'd be amazed at how many people in their 30s and 40s have little to no savings.


A-Every single thing that has ever happened in your life is preparing you for a moment that is yet to come.
B-We know what we are, but know not what we may be
C-Never make the person in your present pay for the sins committed by people from your past
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post #26 of 48 (permalink) Old 10-08-2016, 06:45 AM
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Re: Savings less than 10k

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I'm right there with you. Never had so much money in my life after the divorce. Bought a house and new vehicle. Still feeling great financially. It's a good feeling.
My income dropped to a fraction (and her income was a little higher than mine) after divorce but like someone else said, it's what you spend. I ended up more money to spend (and that includes after child support) and she ended up further in debt - and I took all the family debt in the divorce (except for joint mortgage)
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post #27 of 48 (permalink) Old 10-08-2016, 07:02 AM
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Re: Savings less than 10k

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Yeah, but the cheap places to live usually have lower wages and fewer employment opportunities.
This is true.. we live in a relatively low cost part of the country....there was another thread on here.. comparing people's Taxes, this subject came up -- and WOW.. ours were REALLY LOW compared to some of the figures spoken, bigger cities & such... and true.. in our area.. high unemployment.. but you can buy a house in a small town easily for $25,000 - $40,000 ....

It took my husband many years to land a higher paying blue collar job.. I still think it was a matter of luck, good timing that he even got in.. (these type of jobs everyone wants -people are always asking.. "can you get me in- do you have any pull?" )... we were even praying for an opportunity ...it's that bad in our neck of the woods... used to be a lot of steel mills here.. but they are all gone.. many places to shop has become like a ghost town... it's kinda sad really...

We have done very well in our lower cost area raising a larger family with his decent paying blue collar job (my H works for the RR)...if he looses his job, as there have been a ton of layoffs in the last 5 months.. we'll both have to work full time + to make up for his income, which may happen in the near future... You do what you have to do... We love it here though... a major city is like an hour away..
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post #28 of 48 (permalink) Old 10-08-2016, 07:27 AM
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Re: Savings less than 10k

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Spend that money into an MA Psychology / counseling type degree...
Oh I agree with you !!...we've talked about it till I am blue in the face.. he's stubborn, has nothing good to say about college.. feels it was a waste of his time...and he's not going back.. he liked the experience socially I guess.. but hated the studying.. felt like he didn't learn anything..he's not someone you'd want a High school Grad to run into -with his pessimistic views on what a waste of his life it was to get a degree..

My hands are tied.. his heart is not into it, that's for sure... but he can sure save some cash - what he has determined he'd like to be someday. .. is a Landlord.. I think that's inviting pure hell into one's life .. but again.. he's stubborn.. What I foresee is his calling good old Dad to help him with all his home repairs starting out, till he gets to be his own "Handy Man"....
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post #29 of 48 (permalink) Old 10-08-2016, 11:19 AM
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Re: Savings less than 10k

SA, when your son chose his course of study, what did he foresee doing with a bachelor's in Psychology?

Last edited by Blondilocks; 10-08-2016 at 02:22 PM. Reason: sp
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post #30 of 48 (permalink) Old 10-08-2016, 12:59 PM
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Re: Savings less than 10k

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SA, when you son chose his course of study, what did he foresee doing with a bachelor's in Psychology?
Go to grad school

Further question, what was y'all thinking about career opportunities? It's very dependent on area of focus... Plenty of demand for people in my side (cognitive and experimental) that know, say, user experience, or advertising or marketing, analytics... But general? Not as many. Clinical or behavioral is MA territory, and organizational is MBA territory.
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