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Forum
-> Household Management
-> Finances
amother
OP
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Fri, Aug 21 2020, 12:15 am
After owning a home and redecorating...what else would you/ do you save your money for?
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amother
Seagreen
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Fri, Aug 21 2020, 12:18 am
Tuition for a good high school for my sons.
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amother
Jetblack
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Fri, Aug 21 2020, 12:31 am
Children’s weddings, college, retirement and invest invest invest
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tryinghard
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Fri, Aug 21 2020, 12:42 am
Not something I’m saving for but a financial goal: I would love to be able to pay full tuition b’simcha.
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working_mom
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Fri, Aug 21 2020, 2:30 am
Children’s weddings, retirement
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amother
White
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Fri, Aug 21 2020, 7:36 am
Giving large amounts of tzedakah
Having savings to cover tuition, weddings
My current financial goals are to get further out of debt instead of further in it, to pay tuition, and to make it through the month! (We do give 20% to tzedakah, I'd love to give more.) Won't start savings until we are out of credit card debt.
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amother
Turquoise
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Fri, Aug 21 2020, 7:37 am
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amother
Royalblue
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Fri, Aug 21 2020, 9:47 am
Saving a nice amount for each of my children. My parents did this and allowed me to buy a home using the money as a down payment and still have a nice savings account.
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amother
Slategray
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Fri, Aug 21 2020, 9:53 am
amother [ White ] wrote: | Giving large amounts of tzedakah
Having savings to cover tuition, weddings
My current financial goals are to get further out of debt instead of further in it, to pay tuition, and to make it through the month! (We do give 20% to tzedakah, I'd love to give more.) Won't start savings until we are out of credit card debt. |
If you can't pay tuition and are in debt I don't see how giving 20% of your earnings to tzedaka makes any sense. Maaser is 10% and you are even allowed to use Maaser for tuition if you can't otherwise afford it...
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amother
Sienna
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Fri, Aug 21 2020, 9:56 am
amother [ Slategray ] wrote: | If you can't pay tuition and are in debt I don't see how giving 20% of your earnings to tzedaka makes any sense. Maaser is 10% and you are even allowed to use Maaser for tuition if you can't otherwise afford it... |
Even if you can otherwise afford tuition, ask a rav because there are a lot of leniencies in regarding to paying tuition with masser money...
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TwinsMommy
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Fri, Aug 21 2020, 10:29 am
I love how you have owning a home and redecorating as first things first----- not for us. We plan NEVER to own a home. We're now 46 and are very happy renting---- whenever something goes wrong our wonderful landlord fixes it for us. We wouldn't be happy renting if it meant an apartment but we live in Cleveland and have a huge house. Redecorating? blah. We're happier spending on sefarim and siddurim.
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SixOfWands
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Fri, Aug 21 2020, 10:32 am
Retirement, retirement, retirement.
I do want to refinish floors, paint, and get a new couch, but that's on a different level.
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amother
Floralwhite
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Fri, Aug 21 2020, 10:41 am
amother [ White ] wrote: | Giving large amounts of tzedakah
Having savings to cover tuition, weddings
My current financial goals are to get further out of debt instead of further in it, to pay tuition, and to make it through the month! (We do give 20% to tzedakah, I'd love to give more.) Won't start savings until we are out of credit card debt. |
Wow! That's a lot of Tzedakah if you still have your own debt!
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FranticFrummie
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Fri, Aug 21 2020, 11:10 am
Tzedaka, first and foremost.
Next, I would LOVE to send DD to the university of her dreams. It's outrageously expensive, and admission rates are extremely low. You have to be the best of the best to even be considered. She's been building her portfolio for two years already.
https://en.wikipedia.org/wiki/....._Arts
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amother
White
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Fri, Aug 21 2020, 11:20 am
amother [ Slategray ] wrote: | If you can't pay tuition and are in debt I don't see how giving 20% of your earnings to tzedaka makes any sense. Maaser is 10% and you are even allowed to use Maaser for tuition if you can't otherwise afford it... |
I agree with you in theory, but practically we saw that we ended up with more money once we started giving 20% consistently. So now we stick with that. When we paid tuition with maaser, we ended up with less at the end of the day. So we do what works
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amother
Purple
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Fri, Aug 21 2020, 11:36 am
my huaband's is to retire early an d set the kids up financially. I don't have such big goals but Im a SAHM already
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amother
Mistyrose
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Fri, Aug 21 2020, 11:38 am
Tuition
Tzedaka
Retirement - investments
Wedding/college/simcha funds- investments
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icebreaker
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Fri, Aug 21 2020, 11:41 am
Retirement, long vacations
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stillnewlywed
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Fri, Aug 21 2020, 11:41 am
Save for weddings and retirement. Start a fund for each of your kids.
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Lady A
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Fri, Aug 21 2020, 1:01 pm
Retirement, kids educations, redoing several rooms in our house (it’s old and bathrooms not changed since 1942)! New kitchen.
Weddings as well but we don’t do the whole FLOPS thing. We are fairly MO and don’t plan on buying a line of silver, jewelry, seforim when they marry.
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