Not convinced that it’s worth it to try to cut costs for the most important day of your life? Consider this: what if you had a small private affair for your closest friends and relatives and didn’t buy an expensive engagement ring, spending around $13,000 for your wedding instead of the average price tag of $27,000?
What if you invested the $14,000 you saved in the stock market and left it there until you retired (assuming 40 years later), earning an average of 10% a year? What would you end up with? A whopping $634,000!
It’s hard to look so far ahead when you’re just starting out in your life together, but the world is full of people who find themselves quickly approaching retirement age without the financial means to retire. When all is said and done, I’ll bet many of them would have traded a bigger, fancier wedding for the $634,000 nest egg.
For more tips on saving costs, see the full article on About.com
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Some couples today are breaking away from the traditional china, silver and linen gift registries when it comes to asking for wedding gifts. They’re asking for money. A wedding-day cash infusion can make it easier to put a down payment on a home. With home prices appreciating rapidly in much of the country, lots of couples need all the help they can get.
