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
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.