What Else Can You Do With Gifted Wedding Money?

Screen Shot 2017-08-08 at 8.27.23 PM

It’s no secret that weddings can end up costing a lot of money. However, what some people don’t think about is that they don’t have to cost a lot. If you have certain expectations of what a wedding is and what it needs to include, and you’re unwilling to let go of it, your wedding is likely to cost more. But if you’re able to think outside of the box and focus on the meaning of your wedding, and not on how much stuff it has, you can save a lot of money. And if you’re not spending cash on your wedding, you could spend it on something else.

Your First Home

Many couples spend time considering whether they want to spend money on a wedding or on a down payment for their first home. If you have a simple wedding and save your money for your home, you could always have a housewarming party and combined wedding celebration later. And if you have a large backyard, you’ll have the perfect place to do it. Many people spend around the same amount on a wedding as they would put into their first home, while others might spend around half the amount they need to save. If you’re paying off a wedding, it could be a long time before you can afford to buy a home.

A New Car

If you already have a home, or you’re not interested in buying one just yet, another purchase that might interest you instead of a wedding is a new car. In fact, in 2015, the average spend on a wedding in Canada was more than $30,000. In the same year, the average spend on a new car was just over $27,500. So the cost of a wedding and of a brand new car could be roughly the same. And if you buy used cars or shop around for cheaper models, maybe you could even get two.

A New Look

What if you feel like working on yourself instead of putting all your money into a wedding? Perhaps you’ve always wanted to give yourself a new look, whether that means opting for nosework or buying a new wardrobe. Of course, you wouldn’t necessarily spend as much as you would on a wedding. However, you could still spend a good few thousand on various things. Maybe you have some long overdue dental work that you’ve been wanting to get. Or it could just be time for a new hairstyle.

A Bigger and Better Honeymoon

The honeymoon is often included in the average cost of a wedding. However, if you take into account all the other expenses, the honeymoon might only be a small portion of the total spend. If seeing the world is more important to you than having a big party, perhaps saving your money for your honeymoon is a better idea. You might be able to afford a tour of Europe or somewhere further away than you were first considering.

For some people, a big wedding is essential. However, if you’re not sure if it’s for you, think of what else you could do with the money.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s