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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Gen X is really shaping up to be the new boomers, eh?

Let's see you survive, pre-gramps...

Rent: $2572/mo
Utilities: $350 (water, power, trash, internet)
Health insurance: $416/mo (is the half we pay & company pays other half)
Eye insurance: $50/mo ($25 ea for both me & hubby - kid is covered under health insurance)
Dental insurance: $44/mo ($22 eas for both me & hubby - kid is covered under health insurance)
Car 1: $0 - paid off
Car 1 insurance: $40/mo
Car 2: $216/mo but paying $400/mo so it will be paid off by July
Car 2 insurance: $65/mo
Student loan 1: $683/mo
Student loan 2: $515/mo
Daycare for 18 mo: $1314/mo
=$6096

And that doesn't even include groceries, tolls/gas/car expenses, personal care items, or other monthly expenses.

And yes, we've been trying to buy a house for 3 years now. We keep getting outbid, like, $50k-$70k outbid.

[/quote]

I imagine it is difficult to raise kids while paying off student loans.  It's so sad that someone forces you to start a family before you were on firmer financial footing.  We need to do better as a country, and allow people to defer having kids until they are in a better situation.  [/quote]

We have both paid off what we borrowed yet we both still owe more than we borrowed. It's the insane interest that is crippling millennials, not the actual paying back the loans.

And you should be thankful that we did have a kid because we are anomalies. None of our millennial friends, single or coupled, want kids because of costs. I took my kid to more doggy bday parties than human bday parties in 2024.  :lol:

[/quote]
Oh my.

First, if you're going to complain about "insane interest rates" you really need to specify them.

Second, we have just left an extended period of historically low rates.  If you didn't find a way to take advantage of them, that's on you.

Third, if you have paid back your original principal, and still owe more than that principal, you elected something far longer than the standard 10-year repayment plan.  That's a choice you undoubtedly made to keep your monthly payments down.  Based on some back of the envelope math, you're near or past the 10-year repayment period.

Fourth, and most importantly, NONE of your points are responsive to my point, which was that you decided to have children while still owing more that $1000/month in student loan payments.  Based on your financial circumstances, it was entirely foreseeable that you wouldn't be able to both have a kid and purchase a house.  You chose the kid.  I'm not suggesting that was the wrong choice - I may have made the same one in your circumstances.  But it was a choice, and it's pretty "whiny," to circle back to the OP, that you are complaining about the consequences of that choice now.  [/quote]

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