How many have basically no savings in 30s. Panicking

amother

Tue, Oct 29 2024, 8:54 am

I am barely holding on in life in general. What do I do if I can't do life. I opened financial thread and ouch do I feel even worse. My problem I know, but I don't want to be im this world. I can't do it. I can't make decent salary. I can't make decent anything.aometimes I pretend I'm not the only one then I get hit with reality. I guess I'm just here to vent. Ty for listening

amother

Cerulean ↓

Tue, Oct 29 2024, 9:13 am

30 years old.
$10k in savings.
Do not own a home.
Just booked a Mesila coach to help me.

amother

Chambray ↓

Tue, Oct 29 2024, 9:17 am

Do you want to share some info on your expenses and income?

Our society has made high living standards the norm even if it cannot be afforded… you may be able to cut back in areas to save. Our communities also put pressure on us to spend, many are in the same boat…you are not alone

amother

Skyblue

Tue, Oct 29 2024, 9:26 am

amother OP wrote:

In our thirties, have almost 60k in cc debt. We bh own a home which is worth a lot, but that’s it. I’m going back to school now to help supplement our income

amother

Marigold

Tue, Oct 29 2024, 9:30 am

If it makes you feel better, I had approx 300k in savings in my 30’s.
Now in my 50’s and zero savings and prob 45k in cc debt.
Some bad investments and life challenges will do that.
The wheel turns. I know we can climb out again when God wants.
I’m learning/trying to hold on.

amother

↑ Chambray ↓

Tue, Oct 29 2024, 9:30 am

Here is a thread capturing survey of household debt not including your home. If you notice….over half of households have debt.

Some people hold $30k in savings but also have $30k in student loan debt. To me, that means they have $0 in savings. It depends the way we look at things

https://www.imamother.com/foru.....71472

amother

Hunter

Tue, Oct 29 2024, 9:33 am

In our thirties. No home, no savings. $30 in my bank account. Yup, that’s $30 to our name. We both work an insane amount.

amother

↑ Gray

Tue, Oct 29 2024, 9:34 am

amother Skyblue wrote:

In our thirties, have almost 60k in cc debt. We bh own a home which is worth a lot, but that’s it. I’m going back to school now to help supplement our income

Curious what are you going to school for? I have been thinking about it but don't know what to go for that is worth it as this age, and doesn't take too long to complete.

amother

Banana

Tue, Oct 29 2024, 9:39 am

30s here, less than $10k in savings, closer to $5k I think. Can't think about it. Makes me feel panicky. I just try to remind myself that Hashem is in charge of money. If and when we're supposed to have it, we will.
BH, we do own our house, mortgage almost all paid off bh bh bh. I'm so grateful for that, I don't take it for granted.

amother

Lightcoral

Tue, Oct 29 2024, 9:43 am

amother Banana wrote:

I feel like if you own a home you're better off than someone who has more savings but is renting

amother

Mintcream ↓

Tue, Oct 29 2024, 10:24 am

I'm my late 30's , hardly any savings (a little for the next upcoming bar mitzvah iyH)
Own a nice, big house though.
Some debt, but 'good debt' from the house which is interest free, and we're paying it back slowly. Low mortgage BH although we plan to take some extra out in a few months to pay back more debt in a lump sum rather than monthly how we're doing now before we have to pay interest.

So no savings. It's kind of scary but dh owns a business so chas vesholom, if it ever comes to it (which I hope not!) we can take from there.

amother

PlumPink

Tue, Oct 29 2024, 10:58 am

amother Marigold wrote:

Oy this scares me
Can I ask what happened?
Hope Hashem gives you lots of hatzlacha in climbing out!

amother

Sapphire

Tue, Oct 29 2024, 12:32 pm

Just turned 30 and got married. have about 150k total in savings. ( will go toward down payment iy"h)
I spent my single years traveling the world and I don't regret it for a second. I also spent alot of money taking different courses and learning new things that I'll probobly never use but I need to work my brain as my job is just brainless but it pays well ( ex - I don't want to do graphics as a job, but I love learning all the programs and photoshop, I don't want to be a programmer but I find the whole thing so interesting .. I just do it for learning not to have pressure on me in such a job)

amother

Emerald

Tue, Oct 29 2024, 12:42 pm

In our 30s about 70k in debt not including home and cars. Relying on HaShem to get us out of it at the right time.

amother

Rose

Tue, Oct 29 2024, 12:45 pm

amother Marigold wrote:

Similar situation, your positive attitude is really inspiring

amother

Nemesia ↓

Tue, Oct 29 2024, 12:48 pm

In our 30's
26k down payment debt
16k student loans
12k cc debt
20k in savings (don't ask me why lol. Dh is in charge )
Own a tiny starter home and barely making the month
O and we are 5k behind in tuition

amother

Canary

Tue, Oct 29 2024, 2:22 pm

amother Lightcoral wrote:

I feel like if you own a home you're better off than someone who has more savings but is renting

Yes, because saving don't go up in value as much as a house does.

amother

Lime

Tue, Oct 29 2024, 2:23 pm

amother Skyblue wrote:

In our thirties, have almost 60k in cc debt. We bh own a home which is worth a lot, but that’s it. I’m going back to school now to help supplement our income

We have a bit more CC debt than that unfortunately

amother

↑ Mintcream ↓

Tue, Oct 29 2024, 2:26 pm

amother Canary wrote:

Yes, because saving don't go up in value as much as a house does.

And often the mortgage is way cheaper than rent. Ours certainly is by a huge amount BH. But we're in house debt now.