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Guess who’s coming


groupw

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8 hours ago, groupw said:

The apartment/rental market is pretty tight at her budget.

We watch a lot of House Hunters International.  That literally is what the real estate person says in almost every market for the past 5-10 seasons and at ALL budget levels. :D

8 hours ago, groupw said:

We did stipulate that we want to help her manage her finances better. Brilliant photographer, but no business sense. We’ll see how it goes. 

How old is she?  I didn't budget very well at first as I was slowly building up my baseline of savings.  Really until I combined income with my wife in a joint rental/house expense account, I was only slightly chipping away at my unfocussed goal.  Very early career, low on the pay totem pole, and lots of shiny things made it tough.  Focus from needing to be "responsible" as a partner fixed that.

I'd recommend you think about charging rent and piggy banking it for her.  She pays (forcing a bit of planning and responsibility) but at some point, you have a nice tidy amount to give back as a gift towards a home or something else.

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6 hours ago, Razors Edge said:

We watch a lot of House Hunters International.  That literally is what the real estate person says in almost every market for the past 5-10 seasons and at ALL budget levels. :D

How old is she?  I didn't budget very well at first as I was slowly building up my baseline of savings.  Really until I combined income with my wife in a joint rental/house expense account, I was only slightly chipping away at my unfocussed goal.  Very early career, low on the pay totem pole, and lots of shiny things made it tough.  Focus from needing to be "responsible" as a partner fixed that.

I'd recommend you think about charging rent and piggy banking it for her.  She pays (forcing a bit of planning and responsibility) but at some point, you have a nice tidy amount to give back as a gift towards a home or something else.

She’ll be 30 in September. When she moved out of our house, she moved to Lincoln with her boyfriend. He managed their finances and was good at it. He went with when they moved to AZ. All was well as long as they were both homebodies like at the beginning of their relationship. However, once she got into the desert photography and was out camping and hiking on her days off, he had no interest and began to resent her success. Things went downhill and he left leaving her to finish out the lease on their apartment by herself. She never shared how bad things were, but we later learned she was financially devastated. She rented the room she is now in, but has always been barely paycheck to paycheck. This will be her chance to reset. 

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43 minutes ago, groupw said:

This will be her chance to reset. 

She’s lucky to have such understanding and helpful parents. I like the idea of charging her some rent as a means of helping with financially responsibilities, and then gifting it back. 
 

I’ve thought of starting and contributing some money to my sons IRAs. They’re just doing summer jobs while in school, so they need the money to spend. But we could tell the government they put everything they earned into an IRA if I decide to match it.

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Our youngest daughter moved back in with us after college graduation.  Our agreement: We'll keep paying for all the things we paid for in college - your phone, car insurance, food, gas, etc, etc

But

You use your income to pay off all you college loans.  The minute you take off for a two week vacation in Vegas or the Caribbean, all bets are off and you start paying rent, your phone...

My daughter paid off all her college loans in one year, and she was able to move out and start her life debt free.

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Many times during my life my parents reassured me when I expressed a worry about work or some other issue by saying "no need to worry, you'll always have a home here".  I never needed to take them up on it, but it was comforting to know there was an emergency plan if I ever needed it.

It was only a few years ago that my Mom passed, and I had lived successfully on my own for decades, but I still felt a little twinge knowing that security back up was gone.

I'm glad you can be there for her.

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51 minutes ago, Kirby said:

Many times during my life my parents reassured me when I expressed a worry about work or some other issue by saying "no need to worry, you'll always have a home here".  I never needed to take them up on it, but it was comforting to know there was an emergency plan if I ever needed it.

It was only a few years ago that my Mom passed, and I had lived successfully on my own for decades, but I still felt a little twinge knowing that security back up was gone.

I'm glad you can be there for her.

I struggled...at 26..the career I had educated myself for wasn't  working out..and I had no support...my mom died when I was 23...so I floundered..and struggled and did my share..and then some...of stupid things....which is why I am still working and not as financially prepared as some of my friends.

Glad you can offer some support and guidance...:nodhead:

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