Tuesday, February 09, 2010

How much $$

DIY Guy is teaching at FPU for 13 weeks.  I'm in his class.

FPU is also known as Financial Peace University.  At FPU we are learning to "Live Like No One Else" ("So We Can Live Like No One Else").  Last week our homework assignment was to set up a budget and have a meeting about our budget.  Now, anyone who knows me, knows that I really don't like to talk about finance/money stuff (unless we are talking about how much money you are giving me).  According to Dave, that makes me a "Free Spirit."  DIY Guy -- he loves to talk about budgets, numbers, finances -- that makes him a "nerd" -- hey Dave said it, not me!

So as we were doing our homework we realized we needed to make a list of things we want to save for -- not borrow for.  Things like 

1.  A new refrigerator
2.  A car
3.  A vacation somewhere warm
4.  Weddings


Now....hear me.... there are NOT any rings, or dates, or talk of weddings right now.  Mom and Pop are just talking about planning for the future.  Trying to be realistic --- we do have 2 daughters and a son in their 20's after all. 


What we don't know is how much we should save.  We do know we will give the same amount to each of our kids -- 


and, the longer they wait to get married --- the more $$ we will have saved.  But that shouldn't deter them -- after all -- they will still be married whether they spend $100 or $10,000 on their wedding.


It would be nice to have a ballpark number to work towards.  
Parents, Brides, Grooms, Married 40 years or 4 months.... here's where you jump in and offer advice:

How much is enough $? 
How much did you spend?  --- in what year!!?
Do you wish you'd spent more ... or less?


What is reasonable for:
A dress?  The Groom's dinner?  Flowers?  Reception Location?  Food?  Beverage?  DJ/Band? Strolling violinists?  Cake (or other option)?  Invitations?  Transportation?  Tent Rental?  Tuxedos?  Clergy?  Church? Limo?  Umbrellas?  Bubbles?  Bird Seed?  Candles? .........

I think I spent under $5000 for my entire wedding (in 1981) -- including wedding bands, dress, caterer, hall, music (helps to have a father-in-law who played in a band)....you get the idea!

Good thing we have some time to save for this....sheesh.

4 comments:

  1. I think when people don't have preconceived ideas of what a wedding should/must be, then it can be anything. I remember paying only $200 for my dress because I bought it off the rack on clearance. If I were to get married today, I'd probably go the church hall reception route vs. fancy hotel. I've been to several like that lately and it seems more relaxed/personal. I'd tell people to spend less on the wedding and spend it on the honeymoon since they may not get the chance to go on a big trip again. We paid for our wedding because we wanted it here and didn't want our parents to have control (because they were paying).

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  2. I don't remember what anything cost! We paid for some, but my parents paid the majority of everything, I'm sure my mom will comment here. But I agree with Jen, it doesn't have to be so fancy. I had my reception....well, you know, you were there, and it was great, but my cousin had his reception at church at it was great too and I'm sure way cheaper.

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  3. Anonymous3:33 PM CST

    My parents paid for my dress and the reception hall which included food and open bar beer, pop, and tea only. They ended up giving us about 8000$ Landen and I saved up the rest!! We ended up saving about 8000$ of our own....as nice as it would have been to have them pay for the whole thing I'm kinda glad we paid for half. It gave us something to work toward together as a couple.....and was good practicing budgeting and saving for something we really wanted without using any credit cards! If we couldn't afford it....we couldn't have it. Our wedding was very nice, classy, and very us but was
    nothing extravagant like others!!
    Love,
    Jessica
    No matter how much you give your children, everything will be great!!!

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  4. I just posted a huge long comment and it deleted. I'm so frustrated, I'll try it later when I'm not so tired and ...mad at my computer. Stupid computer !

    ReplyDelete

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