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Money and Finances
Reply to "Being lower middle class and living well"
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[quote=Anonymous] I think this young woman was just posting and sharing on how one can make sensible financial decisions in how one lives when single which can very well carryover into marriage. I would add that she and her boy friend could well be saving up to be able to make a combined down payment on a first condo or home in the future. It seems to me that many could take some things she does as suggestions on how to set aside a little more money a month, too. Also the values that she has instilled in herself now will carryover well to marriage even if one or both move onto more lucrative jobs in the law or with the government because you are all right marriage does bring its own sense of basic expenses. We have two daughters in the DC area with a combine income with a spouse in the range of $200,000 and two young children each. There is the usual combined day care and mortgage of about $5,000 per month as a base point with one living in MD and the other in NOVA. However, the younger couple was like this girl and her BF in terms of watching expenses and being very good savers. For example both DD and DH drove very old 10-12 year old cars until his finally needed a repair more than they were willing to pay. Well they were able to go out and purchase a new van in cash - after DH nicely contacted via email 15 dealerships in the area after DW test drove a couple of models at a dealership. He ended up getting a higher end model at a cost below first quoted. A lot of comment was made about this young couple's saving power and some commenting negatively on her not eating out etc much. Well similarly the ability to save enabled this daughter and husband to go into the Arlington market with a high cash outlay to be able to get in as one must do - first person in and offering way above asking. Now they are back to saving to start home improvement. The other couple fortunately had help from SIL's parents because they just always seem to have the same amount in the bank. Even though, they just got the biggest raise of their working life with twins now in kindergarten and $25,000 in child care down to about $10,000 per year. What some of you ought to be doing who may have teenagers or early college students is to print out this girl's email to show a son or daughter a way to live to get those student loans paid back or to set aside money for a first car or home. Money management skills are really key in today's world. This young couple is doing very well on this in my opinion. [/quote]
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