Post # 1
Has anyone experienced a layoff, salary cut, etc. during wedding planning? My fiance and I both work in the legal industry where both of our firms have just had massive lay-offs. We both, fortunately were spared. However, I have been uber paranoid on a daily basis and wondering if all this money we are spending on the wedding is smart.
Anyone else work in the legal industry? Moral just sucks right now 🙁
Post # 3
Completely. My FI and I both still have our jobs but we don’t want to spend more than we have to on the wedding. I keep telling myself some details are not THAT important (dessert table, signature drinks, pin spot lighting, etc) and that I can let those go. I also think about our bridal party and guests and the $ burden we’d be putting on them for standing/attending the wedding. It’s unfortunate but we just hope that people will come and have a good time.
Post # 4
My best friend just got laid off. She is a DA… They shut down her whole division! I guess I’m surprised that the legal industry is getting hit so hard.
I’m glad you were spared, and hope that continues to be the case!
Post # 5
I am a lawyer in Boston and the scene here is not good. I work for a smaller boutique firm so things are pretty steady here, but I know many whose jobs are at risk.
Are you paying for your wedding yourselves?
If you are, just make sure that you have six months of living expenses to live off of in the event of a layoff. If you already have that socked away, I would not stress out about it too much. Just be mindful of it and keep within your "wedding’ budget.
Post # 6
We’re pretty freaked…but he survived yesterday’s lay off so we can buy our honeymoon tix now:) We’re pretty much in the need to have 6 mos. of living expenses on hand no matter what at all times camps…which is one reason we’re putting off buying a house (we want a good down payment and 6 mos payments).
So stressful, though…and I know it’s really bad in the legal profession. My MOH works for a division that specialzes in insurance, though, so she’s extra busy. My brother is a 1st year associate and he said almost half of his friends from his graduating class have lost their jobs (apparently 1st years really don’t actually make any money for the firm, they just suck resources). Luckily he’s an IP attorney in a boutique firm so he says they still have plenty of work defending existing patents, which I guess is how tech companies make money when they lay off all their scientists/engineers so they can’t file new ones.
I think in a way it’s a renormalizing since the huge expansion of the corporate law world came along with out-of-proportion corporate profits, but that doesn’t make it hurt less for the lawyers I’m sure.
Post # 7
yeah, it’s scary… luckily, law firms have been giving at least three months severance, so that should help if something happens. I agree with Peony80 too- it helps you really figure out what is essential. For example, our venue wants $6 to cover chairs. At $6 x 160 chairs- $960. Srsly. If I wanted to spend a grand on something, it would be to pay for plane tickets for my friends who have gotten laid off from their firms, not for chair covers.
Post # 8
Yeah, we are paying ourselves. We downsized, our hotel blocks and added a more affordable hotel for guests, I’m also cutting favors. It just sucks as we have been planning this big wedding for 15 months so it is hard to cut things now! (at least I hate cutting things)
@fizicsGirl Yeah, a lot of first & second years are getting screwed. I think its great your brother is at a boutique shop. BigLaw is just stressin me out lately. I’m glad my FI is a more senior associate. I think they still need my staff position. Thank goodness!
Post # 9
I hear everyone. I’m a Librarian in a big law firm and we’ve had layoffs. Scary time. Everybody I talk to has never seen big law layoff like this.
Post # 10
I got laid off from a law firm just a few weeks after we paid the deposits for most of our vendors. Great timing Because my fiance still has his job (at a law firm that is laying people off also), we didn’t have to cancel any vendors, but we have definitely been extremely careful with expenses!
Post # 11
I have my job and I’m not at risk for lay off, despite the fact that we know we’re going to lose a small percentage of our work force (across 3 states, though, so the impact will feel minimally at my location). We’ve already fronted about 80% of the money for the wedding, but my FI is getting out of the army in November and will be trying to find a job where I am. That is kind of freaking me out, but he isn’t worried since he has an engineering degree and the army is really good about getting you a job when you transition out. But it does worry me! I would be devastated if I lost my job and I’d feel so bad about spending 15K on a wedding. But, what can you do? My photographer has adjusted all of her pricing and options due to the economy and has allowed her pre contracted brides (like me!) the offer to change our contract if we want to. I’m sure most vendors aren’t doing that, but I think it’s wonderful that she is.
Post # 12
FI got laid off from a finance job in December. Apparently his bosses did not even know he was being laid off. The decision was made by higher ups who did not work with him. We had a moment where we thought about doing something smaller than what we are doing now. We decided to keep planning but to do so in the most economical way possible. What has happened though is that we have decided to postpone our honeymoon. We most likely will go either later in the year or not at all. That’s sad for me especially since I love to travel. Also money will get tighter in the coming months. Luckily we’ve got quite a bit saved, but it’s still hard.
Post # 13
My FI is an intern at a natural gas company. We were thinking he was going to be hired full time after graduation in May but we found out about a month ago that they didn’t have any open positions for new hires. Thankfully, he had an interview at a government agency job and got it but means we have to move a month after the wedding! So I guess even though we lost a job we gained a better one.
Post # 14
It’s tough out there and I definitely stress a lot about how much money we’re spending on the wedding, even though neither of our firms have announced layoffs. In the end I think it’s more productive to focus on your own individual situation than what the news is reporting – can you live on one salary, how much will be left in your savings after all the wedding and honeymoon expenses, etc. If you’ve already planned your wedding and set all the vendors, what’s the worst that can happen if you have 1k or 5k less in your bank account? Will you really feel safer or more secure if you have that much more in your account when you get laid off? Severance packages have been pretty generous, so at this point my main concern would not be directly financial, but more generally how I could get a job and get my career back on track, in an economy in which so many lawyers have been laid off and so few are hiring.
Post # 15
Our plans came to a screeching halt when my FI got laid off 3 weeks ago. I still have plannin in the back of my mind, but untill he finds another job, we will put everything on hold. Luckily we have untill June to cancel our venue and still get our whole deposit back.
Post # 16
My now husband was laid off 4 months before our wedding. Luckily, we planned on a low budget to begin with and had most of the money already set aside for the expenses. If we didn’t, I dont know what we would have done.