Sunday, August 10, 2008

Wise Money Plan

Before we start spending, we have to be saving. Prudence works well for couples planning to get married and reduces some stress. If you don't already know, visit MoneySense for more advice.
Even though my blog is on wedding, I adhere to the doctrine "Marriage is for life". Hence, my advice would be don't get too hung up on what you do for your wedding. It marks the beginning of your marriage but it's not what your marriage is all about. Also, don't forget to save for your new abode. Some of us need to buy our own property before we get married and this can add to the strain on your finances. Prioritise where your money would go.
Before we plan our wedding, we need to budget budget budget. If at the end of the day, we are constrained by our earnings, then settle for something cheaper but it doesn't necessarily mean you need to compromise on what you'd like to have for your wedding.
One of the wise things to do when we budget is to ensure we pay ourselves first. Each month, set aside an amount as savings before we start spending. This will be seed money for funding your wedding. Look for cheaper alternatives where possible. Don't be lazy when it comes to spending a bit more time looking for things that are within your budget.

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