Question about MONEY???

[quote]Dumbandjobless. wrote:

I want to get engaged and the ring we are looking at is around 10k.

There is no need to spend 10K on an engagement ring! Seriously? Look for wholesale and look for something that more reasonably fits your budget. The idea about roommates and rent is great and will make your mortgage more manageable, but you should also think about what happens if/when either or both of them don't live there. Can you handle it on your own for several months if you have to?

If you are getting married soon, you probably don't want to be burdened with a house that is dependent on roommates to pay the mortgage. Now is the time to SAVE, buy a reasonably priced ring, and when you get married buy a house that you and your wife can afford and that you can pay for with a decent down payment. In the meantime, take the job, maybe buy a new-to-you gently used car, and save up some bucks while living w/your parents.

IMHO, but you asked :)

You don't read well.

The job forces me to buy a new car. I know I can get a Jetta, but who wants a Jetta.

The House I can afford easy even by myself.

None of these things I am looking at will put me in debt. While we are looking at getting engaged we would like to wait 18-20 months to get married. Hence why a year with roommates isn't bad.

Once married our household income would be 120-140k after bonuses. That being said, if I take this job.

get an apartment with that much money and start working. Don't live with your parents thats hard on them, unless they want you too.

Also, get a big screen TV and lay lots of chicks.

Dumbandjobless. wrote:

So my question to you guys is, am I being a moron with my money if I do these things? Wedding ring?

Yup.

Stop trolling. No job and shopping for a $10K ring. Right.

Who gives a $h!t about your money problems?

Dumbandjobless. wrote:

You don't read well.

...

None of these things I am looking at will put me in debt. ...

You clearly don't understand the definition of debt. If you have $33,000 in cash, and you buy a townhouse for $190,000, you will be in debt.

How are you going to buy a house with 33k in the bank and not go into debt?

Anyway they all seem like fine ideas except for the ring. Total waste of money; you might as well dig a hole in the woods and throw 10 grand in it for all the utility you'll get out of a ring.

and that's not including a car that you will have a PAYMENT on.

Good lord, what do you think debt is???

The car can be paid for by the company. I actually think that is my worst idea. When you get 450 a month for a car it is no issue.

My parents are in the top 5% of the country, they think it is fun there son is finally living at home. They want me to live here till I get married, I just haven't lived here since 18 and that is killing me.

The home is debt, but it's still less then a normal apartment in the city. It is better then throwing my money away on renting.

The ring. Well, its a must in my mind.

The job I don't even know if I want it. Right now I have invested some money into a few start ups and hope one of them hits. But, I feel like I need some income just incase.

Again, if I am being crazy let me know.

The only thing that matters is income and expense.

Debt doesn't matter except for the interest expense.

The $50K salary is income.

There is $800 rental income.

$500 car allowance income to offset $500 car expense.

The mortgage payment has interest an expense element and then principle payment which provides equity which can be looked as income.

Paying rent is a straight expense.

The $33K in the bank is pretty useless until it is used to purchase something that will be utilized or it is invested.

Buy a $10K ring if you want to. That's what money is for, to buy things you want.

I think most Americans right now are stuck with the issues of having thousands of dollars saved and having to turn down multiple job offers.

You may not be able to get the mortgage without a job, unless your parents cosign. Probably something to think about.

Dumbandjobless. wrote:

It is better then throwing my money away on renting.

Until you want to move and you can't sell the house for what you want.

Dumbandjobless. wrote:

It is better then throwing my money away on renting.

laughingostrich wrote:

Until you want to move and you can't sell the house for what you want.

I always love the "throwing money away on rent" statement, when the person usually fails to consider they will be throwing away money on condo fees, prop taxes, higher utilities, higher insurance, etc..

Not to mention realtor fees incurred when moving.

Almost as poorly thought out as "we're getting a house because we need the tax deduction", as if paying $1.00 in mortgage interest to save $0.35 in taxes is a smart decision.

Dumbandjobless. wrote:

The ring. Well, its a must in my mind.

Read this and rethink your opinion on rings.

The "value" of diamonds and the "tradition" of diamond engagement rings was 100% manufactured by DeBeers and Madison Ave.

100%. There is nothing more to it than advertisements.

Flagstaff,

Again with taxes and insurance the place will cost me less then renting because my two friends will be moving in. There is no condo fee because it is a town house.

My wife and I are worth (all assets) probably close to a million dollars and earn considerably more than you will be earning if you get your dream job. We spent much less on an engagement ring than you are planning. Sorry, that's just insanity.

A buddy of mine works for Google. He's been there a while. I don't know what he's worth, but I wouldn't be shocked if he has $5 million just floating around in various investments and it could be more. A lot more. He spent less than I did on an engagement ring.

Don't be an idiot.

My dream job? I quit my "dream job" a few months ago.

I turned down a job a month ago making 150k. I know this will sound crazy, but I didn't like the people I would work with. I just got out of a job where I hated my boss and don't want to get in another one.

Money isn't a big deal to me, and having "a million dollars in assets" isn't a big deal. If your house cost 500k how do you not have that much money in assets.

I'm not looking to save money and retire at 50. I just want to live a fun life where I enjoy things. I just quit a job I worked 90-100 hours a week and I don't want that life anymore.

My biggest question is more about getting in "true debt". You know where every month after bills you are in the red.

The ten grand ring is just a downpayment for the rest of the money that your girl is going to end up with. All off it.