{ "media_type": "text", "post_content": "I have money issues, despite making 140k TC and my partner making 70k, we struggle to come by comfortably. The mortgage, the car payments, credit cards. I am literally depressed as I am having a hard time saving. I literally go into Walmart and choosing food choice based on the price per 100g. It is sad and horrible… I think twice before adding those snacks into the cart. And I never dare to buy more than a weeks worth. Don’t even talk about marriage costs and the like", "post_id": "629c19805af3c2001d1a5474", "reply_count": 49, "vote_count": 6, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

I have money issues, despite making 140k TC and my partner making 70k, we struggle to come by comfortably. The mortgage, the car payments, credit cards. I am literally depressed as I am having a hard time saving. I literally go into Walmart and choosing food choice based on the price per 100g. It is sad and horrible… I think twice before adding those snacks into the cart. And I never dare to buy more than a weeks worth. Don’t even talk about marriage costs and the like

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Congrats on voicing this. You have to be ruthless like CC said. The levers are 1) increase income (+ new habits to keep the new money) or 2) lower expenses to live below your means. What sacrifices are you willing to make? Are you willing to downsize your home? Sell and rent? Sell the cars and buy used in cash? Cut back on non-essential credit card expenses? What's most important for the wedding - the union or a big event you have to pay for once guests leave? I got serious and tracked my budget in order to pay off undergrad and grad loans. It can be done but you have to decide and execute.

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Did you have the habit of bookkeeping expenses? Try it if you don’t. It’ll surprise you how much you waste your salary on low-value stuff.
To recognize which items are low-value, think how many times you used an item in your home in the last 3 months. Consider throwing away or donating things you have never used in a year. Think three times when buying something if you really need or just want something.
When you form the habit, things will be very natural. And the reward is you have a lot more to spend/save/invest. Best of all, you don’t worry about money any more.

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Sounds like a spending problem tbh. Do you have a monthly budget?

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You're living to work rather than working to live. You'd be wise to consider downsizing/scaling your largest payments, like your house.

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Get married but don’t spend tens of thousands of dollars per hour on the day.

Maybe you don’t have money issues and instead have budgeting issues? Have you thought about what’s causing the high credit card bills? Maybe look into refinancing mortgage to bring down your fixed costs?

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Now thinking of nomadic living

funny

OP are you Desi? Just curious

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Lol

How much is your monthly mortgage and car payment if you don’t mind sharing. Paying off any student loans?

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Is your mortgage actually a million dollars or did you buy at a lower price and it’s now valued at a million?

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Dave Ramsey

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Let’s reframe this thread and then rethink our responses:

HALP!!! I make a solid six figure budget. After paying my mortgage on a nice house I’m saving ~20% of my gross pay. What should I do?

My advice: be grateful and keep it up.

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OP, I have been there. You need to be ruthless when it comes to budgeting - no frivolous expenses till you have some breathing room. It gets better once you figure out where each and every $ from your paycheck is going.

uplifting

budgeting like a maniac, selling one car, tracking every $, moving to a cheaper apartment. Unfortunately, there’s no magic trick - you either reduce your expenses, or increase your take home.

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Well depending where you are, 210 HHI isn’t that rich. My wife and i are more like 365 in nyc area and still get heart palpitations when it comes to things like childcare costs, not to mention car and puppy and all other costs of living.

There’s always other perspectives and certainly you’re doing well by most standards but do consider that folks making more than you are still not carefree money wise.

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I have a budgeting plan where you can save $10k per year. Maybe this will help. Let me know if you want me to send it.

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Are you house poor…? Something is off with you budget

Got a house but ending up poo

funny

You can try renting out a room or something for extra income

Is your income going up anytime soon?

Sounds like you overextended on the house, just try your best to keep expenses low and continue to save

Mind sharing how much you are paying on the mortgage/cars/ other big expenses?

I second Dave Ramsey. Give him a listen on the 7 steps and take away some ideas on next steps that’ll lighten your burden.

You have any random subscriptions you are paying for ? If so get rid of them.

OP Can you Airbnb rooms or rent out one room? Can you rent out driveway? Some people even rent addresses because PO Boxes don’t hold packages and if someone is away from their home, they want another person to receive their deliveries. Think about how your home can generate some money (even if it may cover real estate taxes only), because it is chewing away your budget.

Also now that it is summer, people go on vacation. Ask around or post announcements that you can host a cat/dog/bird (if you work from home that is) and make some extra money. Congratulations on your nice home. Good luck to you

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