A Different Situation Than Most

Dear Dave,

I’m getting married next month, and my fiancé and I are both following your plan. I’m on Baby Step 3. I make $65,000 a year and have $14,000 in my emergency fund. My fiancé made $90,000 a year, and he’s on Baby Step 2 paying off his car loan. He has his beginner emergency fund in place, and we already have $3,000 set aside for a honeymoon trip. I said he “made” $90,000, because the company he was working for just went out of business. He’s an experienced heating and air technician, and he has already had a few companies reach out with offers or interviews. Do you think we should still go on a honeymoon, or wait until he officially finds another job and things are a little more stable?

Charlotte

Dear Charlotte,

I’m not generally a big fan of spending when someone loses a job. But honestly? I think your situation is a little different than most. I also think you two are different than a lot of folks I talk to. Here’s why.

First off, you’re both serious about dumping debt and getting control of your finances. That’s the big thing. Plus, you make good money, and he will again very soon, based on his prospects and the line of work he’s in. On top of all that, you’ve got a nice pile of cash in the bank. This tells me you’re both wise enough and mature enough to know the importance of being on stable ground financially.

Your guy will have another job in a couple of weeks, considering his experience and the fact companies are already reaching out to him. If he’s lucky, he might even be able to work a deal that would allow him to start a new job right after the honeymoon. So, I like the future you two are looking at, Charlotte. You have some financial padding, he’s in a field that pays well and I’m pretty sure his income is about to be restored.

Congratulations on your upcoming wedding, and God bless you both. Go have a great time on your honeymoon. I hope you two will have long and happy lives together!

- Dave