Getting married can bring some wonderful things your way in life. You’ll be able to bask in all sorts of warm and comforting emotions as you walk down the aisle and prepare to begin your future with your significant other. Of course, you also are likely to see a significant amount of cash after all is said and done. These days, it is much more common for happy couples to receive monetary gifts rather than physical items. Even couples with registries are going to see cash come their way from guests.
While there never is a bad time to have too much cash, you also may feel like you need to use these funds in an appropriate manner. It is not every day you have the opportunity to use a significant sum of money to your advantage. If you want a few ideas for how to spend your cash, take a look at these suggestions and see which make sense for you.
Later Days
Though it might not be what you want to hear, the most practical move you can make with your wedding money is to squirrel it away in a bank account. You might want to spend it, but you will feel way better about your future when you put the majority of the cash somewhere safe. Married life can bring all sorts of new challenges to the table and many of these obstacles can only be overcome with money. You want to buy a house? You need a down payment. Looking to start a family? You need a lot of money for that.
Whether you feel confident in the money you currently have saved or you think you could do a bit better when it comes to preparing for the future, this can be a helpful move to make with your cash gifts. If you and your partner do not yet have a joint bank account, then you can use the funds from your wedding to open an account together. Start your lives together on the right foot by making sure you have the money required to get through any sudden surprises or reach your long-term goals for the future.
Delayed Honeymoon
Some couples opt to go on their honeymoons within a day or so of their weddings. While this might be the norm, you don’t need to follow the same path. When you plan your honeymoon before you get married, you are splitting funds between the wedding itself and the adventure you plan on taking during your honeymoon. Instead, you might find it a bit more practical to plan the honeymoon after you see how much cash you have received as gifts. This can give you a more accurate idea of what you can comfortably spend.
There are ups and downs that come along with this decision. On the downside, you might have to push the honeymoon back by a few months depending on where you would like to go and what you plan on doing. Still, the benefit of using your cash for this purpose is that you are more likely to stay within your means during your adventure.
Giving Back
Finally, some couples enjoy the idea of giving back. Instead of spending all it all on yourself, you may find it more appealing to put some of the funds toward a charity or local organization. This can be a lovely idea for those who want to help their communities by using their weddings as a chance to do a bit of good.
Spending your wedding cash in the best possible way is going to take a little bit of time. Talk to your partner about which choices seem the most appealing and use your gifts in the best possible ways for your future.
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