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My name is Charles and I'm 26, married, and no children. I have a BA in Psychology and have been working as an Executive Admin Assistant for almost 2 yrs at a non-profit org. I am starting grad school for my MS in I/O Psychology next week.
My wife is 28 with a BA in economics, was working in operations as Trade Support for investment companies (Morgan Stanley, Lazzard, Statestreet) for 3 years and was laid off during the recent economic crisis. She's been unemployed for 7 months and is thinking about going back to school to change careers. She's still undecided.
She's very frugal, I am a spendthrift, although I always spent on items that I felt were heavily discounted. While we weren't in much trouble to begin with, the recent events have caused me to rethink my habits. I started listening to Dave Ramsey and Suzy Orman.
With this new knowledge, we started tracking our spending; we paid off our LAST credit payment (our mattress) and now debt free with 2 yrs of living expenses saved. I paid my first semester tuition in cash. We have a car that we own. The only downfall is that we're renting and my income is low and she has yet to find work.
I recently acquired a few books on investing and personal finance that I hope to grab a few minutes of during my studies. The only asset I have is my 403(b) which I'm glad to say is doing well at my current income level.
We started tracking expense August 1st and will sit down to start our budget on Sat.
While I'm really excited that we're taking more control of our finances, I fear that our savings will soon decrease once her unemployment runs out. At my salary, it would be borderline livable. I wonder if I should start looking for another job, but the hours are great and I would get enough time to study throughout the day.
We have goals to own a custom home and have a small side business. Looking at the costs of both and the rate of our saving and income, it seems almost impossible, but I keep telling myself to have faith.
So that's our story and I’m glad to have found a forum that will hopefully help us and allow us to help others.
My wife is 28 with a BA in economics, was working in operations as Trade Support for investment companies (Morgan Stanley, Lazzard, Statestreet) for 3 years and was laid off during the recent economic crisis. She's been unemployed for 7 months and is thinking about going back to school to change careers. She's still undecided.
She's very frugal, I am a spendthrift, although I always spent on items that I felt were heavily discounted. While we weren't in much trouble to begin with, the recent events have caused me to rethink my habits. I started listening to Dave Ramsey and Suzy Orman.
With this new knowledge, we started tracking our spending; we paid off our LAST credit payment (our mattress) and now debt free with 2 yrs of living expenses saved. I paid my first semester tuition in cash. We have a car that we own. The only downfall is that we're renting and my income is low and she has yet to find work.
I recently acquired a few books on investing and personal finance that I hope to grab a few minutes of during my studies. The only asset I have is my 403(b) which I'm glad to say is doing well at my current income level.
We started tracking expense August 1st and will sit down to start our budget on Sat.
While I'm really excited that we're taking more control of our finances, I fear that our savings will soon decrease once her unemployment runs out. At my salary, it would be borderline livable. I wonder if I should start looking for another job, but the hours are great and I would get enough time to study throughout the day.
We have goals to own a custom home and have a small side business. Looking at the costs of both and the rate of our saving and income, it seems almost impossible, but I keep telling myself to have faith.
So that's our story and I’m glad to have found a forum that will hopefully help us and allow us to help others.
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