Financial | Imamother

Log in / Sign Up

List of Forums + New Post Recipe Box Usergroups Following My Posts Bookmarks

Private Messages Advanced Search Rules New User Guide FAQ Advertise Contact Us

Forum -> Household Management -> Finances

Financial

View latest: 24h 48h 72h

amother

Brown

Tue, Apr 24 2018, 1:42 pm

I wonder, how much money should a couple around 1 1/2 years after marriage have put away? whats the norm?

amother

Apricot

Tue, Apr 24 2018, 1:52 pm

There is no answer to this question. How old are you and your husband? Where do you live? What are your goals?

I'm going to assume you are young. You should be focused now more on 'how much of what I earn should I save every month', and 'how should I invest/save it' rather than focus on how big those savings are.

Or are you trying to figure out if you can dip into your savings to buy something non-essential?

doctorima

Tue, Apr 24 2018, 3:18 pm

There is no norm. How old were they when they got married? Are they both working FT? PT? Is the husband learning while the wife works or her parents support? How much is the house they hope to buy one day? Do they have kids yet? Without a lot more details, there's no way to advise, sorry.

BH5745

Tue, Apr 24 2018, 3:26 pm

It's ideal for a couple to get used to saving 10% of their income and investing 10% of their income (as in living off 80% or less of their income), as a lifelong practice.

amother

Cerulean

Tue, Apr 24 2018, 4:59 pm

I would advise you to start saving whatever you could so as to start saving for a downpayment for a house(if u want to buy one). Whatever expenses you have now will just increase once you have to pay tuition ....and it may be harder to save then. I wish someone would have told me this when I got married.

jjudithc

Wed, Apr 25 2018, 11:33 am

FWIW, I found saving a lot easier once I set up an automatic transfer every month. Now $10 comes out of my checking account and goes into my savings every month. It's not a lot, but it's nice to know that I'm saving without trying, and also that every time I look at my savings statement it'll go higher...whereas the checking usually goes lower. Fast.

amother

Brown

Wed, Apr 25 2018, 3:40 pm

we are both young and both of us work. my husband works full time and I work 10-4 with a baby which people consider full time... I have some money put away bh but was just wondering how it works by other couples... thanks for your responses...

amother

Burgundy

Thu, Apr 26 2018, 2:53 pm

amother wrote:

Is your husband a professional? Are your a professional? Do you work enter level jobs?
Do you live in a city with a high cost of living?
There are so many variables.

You can't compare a couple making 120k combined and no kids and a couple making 80k combined with a baby.
Do they live in Brooklyn - where they might be paying 2k for rent, or Lakewood - where they can get an apt for $800.

More Info is needed.

I like what BH5745 said above though about 20%. it gives ME somewhere to start in terms of our own finances Smile

Page 1 of 1