Plan for after the wedding
Updated: Jul 3, 2019
Paying for your own wedding? Don’t forget to plan for after the wedding!
Weddings can be expensive. Really expensive. It can be so easy to get swept up in the plans for the Big Day and forget about the really important things that often come afterwards. After all, you’d hate to have the right flowers and the right shoes, and no home deposit. Or the marriage and beautiful baby, but no money saved up for childcare. Or the wonderful husband, but no life insurance if the worst was to happen. A bit of extra planning when you plan your wedding might mean that you can get the financial balance right in terms of your immediate needs (the wedding) and your ongoing needs (eg a home deposit, savings for maternity leave and childcare, holidays when the kids are young). After all, who would want an amazing wedding, only to be left in debt and having to spend years repaying it? Some people and some families have heaps of cash to spare, and putting on an amazing wedding won’t even dent the bank balance. However for most people, this is far from the case. If you are paying for your own wedding and struggling to work out the wedding budget, perhaps take some time out to think about your post-wedding plans and priorities. It might be helpful to combine your wedding and post-wedding plans into the one budget and look at it all together. Paying for your own wedding isn’t easy. And neither is saving for a home deposit! Weddings are wonderful, but there is life after getting married. And surely, that life is the whole point of the wedding?
Alison Kaigan – Your Online Financial Adviser