I'm a long term renter, so yeah, pauper town!
I won't elaborate much, but I feel like we haven't had enough income to sustain our lifestyle/financial obligations since we had DS. We've certainly lost the ability to save money, as paying the bills takes priority.
I'm hoping to turn things around next year when DS starts school. It'll enable DH to seek full time work (he cares for DS during the day and works casually). I'll also be free of paying preschool fees which are a financial stretch this year ($165 a week), and my car loan will be paid off.
Realistically we won't be entering the property market any time soon. It's still a goal of ours though, one I hope we achieve in time.
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Results 21 to 30 of 35
11-05-2016 10:11 #21
11-05-2016 10:34 #22
Long term renters here too, I wouldn't say we are paupers but as we live in south Sydney, we've been priced out of the market by investors (don't get me started on the subject of NG) it's not like we haven't got a good deposit, we have but the loan repayments would be more than our rent and I'm not prepared to either go back to work full time or move way out west. Unfortunately we didn't sell our house quick enough in the uk to get in here before the prices sky rocketed. It make me sick to be honest.
11-05-2016 12:47 #23Senior Member
- Join Date
- Apr 2008
11-05-2016 12:48 #24
Yep long term renter here too. Privately renting for 6 years since finishing uni. Unfortunately in our situation it is just how the cookie has crumbled! Uni, redundancy, wedding, travel, babies and starting a small business has impacted upon our ability to save. I'm sure along with way we could have made a few better decisions, but we prioritised travel and having babies while we were young. Looking to the future we will only be able to save a deposit if I get a full time job (unlikely, limited jobs) or DH's picks up. I have 3 close friends recently who bought houses and while I was a bit envious, I'm actually not envious of their debt position!
11-05-2016 13:17 #25
Problem where we live is that even if you have got a decent income and a deposit, prices are so obscene, the mortgage required is just unaffordable! Its so depressing, we've been waiting for the bubble to burst but it doesn't look like that will ever happen, the gap between those with and those without is just getting bigger thanks to current government 😏
15-05-2016 08:31 #26Senior Member
- Join Date
- Feb 2016
- Adelaide, SA
The city vs wage conundrum is just that. We live in SA so own a 1000sqm block 20 mins from city and it cost us $440k 5 years ago. It's not new but renoed and very livable. But our wages are lower. We earn combined $160k (me part time). We could both earn heaps more interstate. Our bills and food is the same as the big cities. But our mortgage is lower. I'm not sure we're better off as we earn less. We do save but it's for my next lot of maternity leave. Anyway we are happy. I do wish I had nicer things but I'd rather have little people than nice things. It's a worthwhile trade off.
15-05-2016 11:04 #27
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15-05-2016 11:12 #28
Yes, currently. But we are looking at moving out of Sydney to get onto the property ladder and slowly build up some wealth (with my in laws being guarantor on a loan for us) . Having said that, we live comfortably on about $80k gross but would love to have a financial footprint at some stage.
15-05-2016 12:38 #29
Yes we are in this category. We have moved both internationally and interstate in the last five years, had three babies (so three drops in income thanks to maternity leave) and as I am the higher earner that has had a huge impact. We also have had a series of misfortunes, such as cars breaking down with massive repair bills or people crashing into our car and driving off. So whenever we start to build up some savings they are obliterated by bad luck.
I am 33, DH is 43 this month.
I so wish we could afford our own lovely home just to make it our own.
Our combined income this financial year has been $70k due to mat leave for part of the year, and DH is a relatively low earner. I am going back to work part time in July when baby #3 is 7 months. I really do not want to leave her in family day care for three days a week but DH's wage just cannot support us on its own. Plus we need to save money for a house, and my best friends wedding in the UK next year.
15-05-2016 13:21 #30
Me (39 at the time) and hubby (49) discussing marriage:
DH: So we are in agreeance that we aren't having any children? You know I've had a vasectomy."
Me: Yep, no worries.
*Gets married, saves home deposit over the coming year*
Me: I want a baby....
Say goodbye to home deposit, spend all savings and then some on IVF....
We won't be owning our own home any time soon, lol. Combined income of around $75K, car loan, IVF, child support...
Nope. Not gonna happen
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