JUNE 2011

Don’t Let Summer Weddings Break the Bank
 

Whether you will be hosting your daughter or son’s big day, walking down the aisle yourself or sharing in a friend’s wedded bliss, be sure to set a summer wedding budget, with help from SAM, in advance.

Is your summer calendar filling up?

• Weigh all financial impacts of attending a wedding before mailing back that RSVP.

• Host or attend a pre-wedding soiree on a budget.

Moving in with your sweetie? Not only will you be cohabitating living space, but also you might be joining bank accounts and setting goals together.

Getting hitched? Keep wedding costs down through planning:

• Talk through what is most important to everyone involved.

• Get three different estimates from wedding product or service vendors.

• Pay cash for wedding expenses whenever possible to avoid interest fees on credit cards.

Taking the plunge again? If you’re planning your second marriage, go in with all things considered:

• Have honest and open financial discussions.

• Consider a prenuptial agreement.

• Develop a fair allowance and spending policy for children and stepchildren.

Do you and your significant other have the same values about money?

• Find out by taking our LifeValues Quiz together.

• Communicate about your values so you don’t encounter financial infidelity down the road.

How much do most people spend on wedding gifts?

• 47 percent: $40 to $60

• 37 percent: $60 and above

More poll results>>

How many weddings will you attend this season?

View our poll>>

Featured resource:

Share this:

Tweet

SAM’s family of resources:

Plan for retirement at myretirementpaycheck.org.

Confess your bad spending habits at spendster.org.

Make sure your kids are learning financial basics in high school and college.

Copyright © 2011, National Endowment for Financial Education. All rights reserved. Contact Us