No, no, we haven't won the lottery .. though that would be nice ..
Husband and I are going to the bank tonight to have a meeting about our financial future. For me, this means white picket fences dancing in my dreams. But the reality of the situation is that there is much planning and saving before we're even close to that carry-me-over-the-threshold moment.
It's the official beginning of the five-year plan, which includes paying down student loan debt, saving for a home and the future and starting our family.
Since we're newbies to this, got any advice?
Having just entered year two of the five year plan for my husband and I...I feel slightly qualified to give an answer:) We lived on a tight, tight budget our first year and paid off all of our school loans (phew what a relief!). Many people think it's boring, no fun, and just not the way they want to spend a year - but ironically, it wasn't that bad! We learned how to have a blast in our first year of marriage, all while getting rid of our student loans. We discovered the $1 movie kiosk's at our local grocery store, walks in our downtown area, canoe trips with our friends, enjoying the farmers market on saturdays, LOVING craigslist...etc. My best advice, avoid credit cards, live on cash, and create a solid & realistic budget that you both agree on (if not you'll end up breaking it and there's just no point). It may seem old fashioned, but when you know where your money is going it makes it a lot easier to keep focused on reaching your goals! Anyways - that's my two cents, congratulations and the best of luck! What an exciting time - enjoy every moment! (I found you via Bower Power who I found via This Young House.)
ReplyDeleteThanks so much for the detailed note, Kathryn! You've got some great ideas here! We're going to be living as frugally as possible for the next little while to pay down our student loans as well — And I know what you mean, lots of people think that's lame or boring of us to do, but I know we'll be happy we did it in the end. Send along a link if you have a blog too :)
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