(Closed) Where To Get The Money

posted 7 years ago in Money
  • poll: How are you paying for the wedding? (can select multiple options)
    Saving, saving, saving : (90 votes)
    47 %
    Family assistance : (67 votes)
    35 %
    Retirement Fund : (2 votes)
    1 %
    Credit cards : (19 votes)
    10 %
    Other (please explain below) : (12 votes)
    6 %
  • Post # 3
    Member
    2459 posts
    Buzzing bee
    • Wedding: November 2010

    We saved, I used some of my inheritance and DH’s parents gave us some money.

    Post # 4
    Member
    2450 posts
    Buzzing bee
    • Wedding: October 2012

    We are saving, saving, saving… and we are counting on our tax returns (guesstimaton based on what we got this past year).

     

    I came up with my budget by coming up with three different scenarios for my wedding (it’s in disney world and they have different packages with different minimum expenditures)…. then I figured out how much I could realistically save from my paychecks each week and how much we might get back from taxes… and I picked out the wedding package that I knew we’d be able to afford and still have some money left for fun and just-in-cases.

     

    ETA: TWIN CITIES!

    Post # 5
    Member
    6572 posts
    Bee Keeper
    • Wedding: February 2010

    Our parents paid for our wedding. But if we didn’t have that option, we would have saved and just done something small that we could afford. I was more worried about saving money for our future then the actual wedding, which I’m glad I did b/c now we’re trying to buy a house.

    Post # 6
    Member
    236 posts
    Helper bee
    • Wedding: May 2012

    We have savings but we decided to pay as we go… this way we dont have to worry about dipping into our savings (unless we have too) or over spending

    Post # 7
    Member
    5148 posts
    Bee Keeper
    • Wedding: June 2011

    My rule is NEVER take from your retirement fund!!!

     

    Fiance and I, even with family assistance, were a little short on the wedding tab (we aren’t planning anything insanely expensive, we’re having a 10K wedding, but we didn’t have that just laying around). So we got a loan from https://www.lendingclub.com/ ,which has a much better interest rate than putting things on credit cards.

    Post # 8
    Member
    2305 posts
    Buzzing bee
    • Wedding: January 2012

    Savings and family assistance. My mom has been talking about taking out a loan, which I highly disagree with. I rather just cut back on guests and other costs.

    Post # 9
    Member
    48 posts
    Newbee
    • Wedding: June 2012

    We’re paying for the entire wedding ourselves (with the exception of my Mom paying for my dress).  We set up a “savings schedule” from now until next June to help us figure out exactly where the money will come from, i.e. picking up extra shifts at work, monthly savings deposits, selling things on craigslist, etc.  I’m glad we know what we can realistically save between now and then…

    Post # 10
    Member
    9029 posts
    Buzzing Beekeeper
    • Wedding: June 2011

    saving, and lots of DIYing and couponing

    Post # 12
    Member
    5110 posts
    Bee Keeper
    • Wedding: November 2011

    Never EVER take from your retirement fund.. If you do it now.. you may do it later, and then by the time you get to retirement age what will you have?

    That being said.. We used some of our tax return, and saved  A LOT  I also picked up a waitressing job one or two nights a week on top of my other job so any tips I get could go towards the wedding!

    Post # 14
    Member
    5148 posts
    Bee Keeper
    • Wedding: June 2011

    “Does anyone know of a good budget calculator or anything online that would help us estimate how much we will be spending?”

     

    It really depends on where you live and what the prices are like.

    I’m having a pretty cheap wedding ($10K), but when we first got engaged I had a budget of more like $5K in mind, when we dove into planning I realized that was unrealistic. So I’d suggest doing some pricing around to get an idea of what it will cost.

    Post # 15
    Member
    286 posts
    Helper bee
    • Wedding: July 2011

    @smiley3: I think it depends on how you dip into the 401k. Some companies have you take out loans from it (borrowing from yourself) and then you collect the interest and that ammount is added to your own 401k. The ony downside is you are taxed 20% and it counts as income for taxes. Personally I would rather take a loan aganst myself than credit card debt because the interest on that actually adds up much faster and it becomes more expensive. Also, credit cards will affect your credit down the line for a house and other things.It’s also important like PP said to not make it a habit though and not just take out without putting it back. You kind of need to break down this versus getting a loan from a bank and which will be most cost effective if this is something you want to do.

    But that’s my personal opinion I know people don’t like the idea of it but there are a lot of factors to consider and options.

    My fiance and I are paying the wedding with our savings and not getting help from our parents. But we are also keeping it under a rather strict budget and not charging anything.

    Post # 16
    Member
    10367 posts
    Sugar Beekeeper
    • Wedding: September 2010

    I’m a little horrified that someone took money out of their retirement fund. They jeopardized their future security….for a party?

    The topic ‘Where To Get The Money’ is closed to new replies.

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