Maybe I'm just looking for validation but I want to see how people see my situation. I am 24,married,no kids yet. I'm in the military right now,plan to separate in a few years. We are single income right now due to a recent move and my wife have a hard time finding work at our new location. My after taxincome right now is about $32K/year or $1350 every 2 weeks. We have student loans (mostly my wife's) at $350/month. I also stupidly took a "career starter loan" that military banks offer to new officers and the payback on that is about $463/month (we used this for a car/honeymoon,I regret taking this loan every 15th of the month). Those are our only debts.
We live on base and therefore pay no rent or utilities other than cable. People back home always say,"you guys must be banking so much money." The reality is that every month, money is so tight we are rarely able to save ANYTHING. We live a pretty bare bones lifestyle. We eat at home for lunch and dinner 6 nights a week. We hardly do anything for entertainment that costs money,we can't even afford a night out to the movies more than every other month. It has caused some stress not being able to have some more breathing room.
I have been a long time member of this forum and truly believe in LBYM and saving everything you can for FIRE. I just feel like I can't even get it started. I have a pretty big raise ($550/month after tax) coming up. I'm hoping this will give us some breathing room and the ability to start socking some money away.
Long story short,I have been very disappointed with our lacking ability to save. Am I crazy or is $32K/year for two people a tight budget? I know in the future,my earnings will only increase and we will minimize lifestyle creep to the maximum,but right now it is tough. Maybe there are some married couples out there on this same salary who make it fine and save. If we didn't have the student/'career' loan we'd be making it fine I guess,seeing that we'd have an extra ~$800/month to save.
I read this forum everyday and am inspired by those who are on the path,very close,or who have FIRE'd. It is just frustrating to not be able to join in.
We live on base and therefore pay no rent or utilities other than cable. People back home always say,"you guys must be banking so much money." The reality is that every month, money is so tight we are rarely able to save ANYTHING. We live a pretty bare bones lifestyle. We eat at home for lunch and dinner 6 nights a week. We hardly do anything for entertainment that costs money,we can't even afford a night out to the movies more than every other month. It has caused some stress not being able to have some more breathing room.
I have been a long time member of this forum and truly believe in LBYM and saving everything you can for FIRE. I just feel like I can't even get it started. I have a pretty big raise ($550/month after tax) coming up. I'm hoping this will give us some breathing room and the ability to start socking some money away.
Long story short,I have been very disappointed with our lacking ability to save. Am I crazy or is $32K/year for two people a tight budget? I know in the future,my earnings will only increase and we will minimize lifestyle creep to the maximum,but right now it is tough. Maybe there are some married couples out there on this same salary who make it fine and save. If we didn't have the student/'career' loan we'd be making it fine I guess,seeing that we'd have an extra ~$800/month to save.
I read this forum everyday and am inspired by those who are on the path,very close,or who have FIRE'd. It is just frustrating to not be able to join in.