all of our wedding expenses will be paid up front in cash the day of- the day after my wedding we will have no debt from it...all of the money we are given will be placed in savings for a house.
Do you have a specific savings plan you are using?
I am forcing myself to live off of a certain amount of money a week- $125 to be more specific. the rest of the money goes towards my bills and I put at least $350 every pay period (biweekly) so I am saving about $700 per month- In theory. it has been a little rough and unexpected expenses have come up, but if I have to eat cereal for breakfast and lunch for a while to not have a bill, I will do it. it is a huge sacrafice, but the way we see it if we incur more debt, we won't get a prime mortgage, so it could effect us for years to come....
btw- fh is also saving to- he makes more $$ than I do, but I can save more. my goal is to make him pay the lump payment to the hall the week before the wedding (approx $8,000) and I will have saved for and paid everything else.
CaMacho
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Re: The money you make from the wedding...
First we will pay off debt (not much) and the rest will go into savings for a down payment on a house!
We are extremely lucky that our parents are paying for the bulk of the wedding (we are paying for honeymoon, rings, favors, invites), so we will definitely make more than we spent.
mtdr1106
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most of it will go to paying off a mortgage...
LMFitz
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Posted by Blu-ize
Do you guys think that you will receive more than you spent?
I just don't think it's practical to expect to recoup everything we're spending - let alone get more money back. Maybe if there were others helping with the bills - but since it's just us, nope. ----- and I'm ok with that!
BKtoLI
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There's NO WAY we're breaking even!!
Even if every couple gave us $200 we wouldn't break even because that would only cover the catering hall costs!!!
While I know our families are going to be generous (especially my parents since I'm the last to get married and the only daughter, and his parents since he's the only one to have a wedding) I still doubt we will break even.
We'll probably come up about $5,000 less than we spent!!
mtdr1106
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Re: The money you make from the wedding...
Posted by KarAnthony
Posted by hmpena
I have a savings account with ingdirect.com I love this account. I got $25 when I opened it and the interest rate is over 3%! It is all done on the internet but it is very convenient.
We have an ING account too! I was so psyched last month we got $15 in interest! Not bad!!!
My checking acct. I only got $2 and I think I had more $ in that one.
ING is the BEST thing to save your $ into. I also have it set up that they automatically deduct funds from my checking account directly to savings - so it keeps me disciplined. Me & FI have managed to save a lot and the 3.15% interest rate really helps...
iffer042373
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We are gonna use it for a house
megandj
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we will put some money into fixing up some little things in our house (we had to put it on hold with the wedding). The rest will go into savings.
Nadia
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Re: The money you make from the wedding...
since we are the one who pay for the whole things, I doubt if we still have extra money but so far we are good, we paid off all by cash, so we won't have any debt by the day of.
SuzBride
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Re: The money you make from the wedding...
well part will go to pay the balance to the photographer.
the rest will go towards furniture and savings for the mortgage payments. FH wants to put it towards a hot tub - we'll see about that!
Jackie&Justin
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Going to put down payment on house
CalJoe0124
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Savings for a house, again we feel so fortunate that we really won't incur much cost for your wedding, so the $ we make is truly ours for a house.
Kim51103
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Saving the money....my parents are paying the whole thing....so whatever money we make...we are banking!
Jennie0898
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We're hoping to buy a house before the wedding so I would think the money we get in gifts from the wedding would go toward renovations. If not, we'll just probably put it in the bank.
gNi1125
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Posted by MissingTheBGene
It will go into savings towards a house.
same here
dbleplay17
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saving for a house
psf80
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Use half for investing, the other half put into savings for a house
Beth1210
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We are lucky- we are just paying for the rings and HM
so all of money we get is for a down payment!
I want to buy one as soon as we get back from the HM
sidenote- in 1972 when my parents got married- my Dad's parents gave them what my Mom's parents paid for the wedding for a house- it was $3,000 ( they had 300 people)
I would settle for that from my FIL's-
Nali
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Re: The money you make from the wedding...
I would like to pay for the wedding all cash, if everything works out. we are also trying to save for a co-op or condo at the same time.so the money we make will probably be used toward furniture and our future house.
