400 Rent. 420 car payment. ( my interest rate is 2.9 percent, I just had negative equity when I got this car) 400 approximately for car insurance for the both of us.(we are pretty young, no accidents I had one ticket two years ago and the car being financed has to have full coverage sadly, but her car I think will just be liability) 70 for utilities a month. (The area we will live in is super cheap) 300 for groceries monthly. 160 gas monthly (the area we will live in, everything is far) 60phone Bill. 60 cable. All that comes to 1900 I believe. And I'm still missing health dental and vision insurance. I work for a bank and make after tax about 700 dollars biweekly. She makes less. But as you can see everything comes out more than our income. I Will most likely be getting a different job when I move. But I don't wanna count on the idea that I'll make more because I don't wanna get my hopes us. So what can we do? Please only useful advice. No speaking badly about our decisions or saying something stupid and demeaning. Thank you to all who give advice.
If your insurance is 400/mo, shop around. I pay less than that for 6 mos worth through Progressive. That's way high, unless that's for 6 or 12 mos.
Drop the cable TV. I currently don't have it, because it's not in my budget. If you have internet you can watch some shows on hulu (and similar services) for free, as well as get re-acquainted with any VHS or DVD collection you may have.
Conserve on your utilities (don't waste water or electric) to keep them down, as well as buy budget-stretching foods so you get the most bang for your buck. Make your trips in the car count (run errands while still in town after work, etc). Don't make lots of gas-wasteful trips, that'll save a little $$.
Health/dental insurance will be a hit, but if you are young and healthy you can get one of the plans with a large deductible and hope you don't need to use it. The older you get, the better insurance you need because the more likely you're going to need it.
You are still not factoring prescription copays, entertainment, Christmas and birthdays, home repairs, clothing, savings for an emergency fund. ( yes, car break, electricity is higher during the winter and hot summer months, there are always unexpected expenses).
I think you can do without cable and expensive data plans for fancy phones. Use coupons. But still, you can't afford to get married at this point. Marriage is more than having a party and be princess for a day, and financial problems are the number one cause of divorce.
I honestly think that you should wait until you both can afford marriage, and that is not being negative,that is simply stating the obvious: that you are setting yourself up for financial disaster.
Dump the cable get Netflix basic plan. Shop for better car insurance. Get a monthly bus pass to save on gas. Not to mention unexpected car issues that will arise from engine wear.
1. No cable. You can't afford it.
2. I don't see a budget for emergencies, such as car's breaking down.
3. You can't afford to marry now.
4. Both of you get on a written budget now.
daveramsey.com for some free budget help
Go to college or trade school and establish a marketable skill before getting married .
If you refuse to do things in a sensible order ,,,,, then you can work two jobs , 7 days a week and so can she .
25% above and beyond your fixed expenses is a good rule of thumb . Living " hand to mouth " and spending everything you earn is no way to live .
You have more car than you can afford. Get rid of the car and get a beater and that will take care of around $700/mo alone of your overages.
There is a lot left out of your budget.
It looks like the car payments and car insurance are what's killing you. Everything else seems very cheap, so you're lucky there. Can you go down to just one car? My husband and I shared a car for over a year until we could get another one. It was a pain, but you get used to it. Somehow you are going to have to figure out how to cut your car expenses. Refinance, shop around for insurance... $400 for insurance seems outrageous. Ideally, your monthly bills should only be 1/2 of your income.
Shop around for cheaper car insurance. 400 seems a little high.
