Archive for the ‘ Wedding and Engagement ’ Category

This is the second part of my blog on how to plan a low cost wedding. It is too easy to lose sight of the main goal of the wedding – you. When asked what our “theme” is, my fiancé and I say “us.”

Negotiate with vendors. In this economy you have the perfect opportunity to negotiate. Your vendors want to charge top dollar because many couples will simply pay it. Don’t settle for “package deals” that include items you don’t want. For example, photographers will usually add on very expensive wedding albums and engagement sessions. Also watch photographers that force you to buy prints through their website. You could be charged $10 each for 4×6 prints you can order yourself for $0.85. Watch for hidden costs and make sure you understand the entire deal before you buy.

Get creative with gift giving. It may not be traditional to ask for cash as a wedding gift, but instead of registering for things you may not need, consider registering for larger token items. Many websites allow you to register for items such as your honeymoon rental car, your wedding photo album, or even contributions to a down payment on a house.

Remember, you do not have to stick with any tradition. Use the music, the food, and the atmosphere to give your guests a true taste of who you are, and it will be a memorable experience, no matter how much money you spend.

Enjoy!

Planning a wedding can be a very stressful endeavor, especially in this economy. Adding the word “wedding” to almost anything seems to immediately double the quoted price. I have been sticker shocked more times than I can count throughout my wedding planning process this year. Below are a few things I have learned that may help cut costs and in my next blog I will provide a few more helpful hints.

Think outside the box. Get creative. For example, instead of having your wedding at a hotel where they control the catering and charge you a per-head alcohol cost, maybe have an outdoor wedding at a private residence or venue that you rent, where you can control the costs. You can hire a less expensive caterer that you choose, and buy your alcohol in bulk.
What is most important to you on your wedding day? It is easy to get caught up and begin to strive unnecessarily for perfection. Ask yourself, what do I want out of my wedding day? For me, I want to have a day where I can have fun and connect with my friends and family, not give them the prefect meal or show them my decorating ability. Pick what is important to you and keep that in mind throughout the process.

Don’t get caught up in details. Most people at weddings don’t talk about the centerpieces, the token guest gifts, or the great the wall decorations. If you’re keeping costs law, try to keep it simple. With simplicity, you can really showcase your personality. Maybe use pictures of the bride and groom or family members as centerpieces, or simply a candle with flower petals. Use the money instead for vendors you really care about. For example I want amazing pictures more than amazing flowers.

Remember most importantly that your wedding is about you.

Sometimes the way to the American Dream of home ownership is through unconventional circumstances. For example, you may enter into a partnership on a house purchase without the legal rights of marriage. What considerations do you have to watch out for in such an arrangement? How can you assure your rights of ownership in case of problematic situations like death or break-up? Here is an examination of the home partnership quandary…

Unmarried Obstacle

Couples and partners who are unmarried (either by choice or law) face many tax complications when applying for joint home ownership. In the event of break-up, for example, married couples who are divorcing can transfer ownership of a house without tax penalties. But unmarried partners, if a split occurs, might face excise or gift taxes when transferring ownership.

Cohabitation Agreements

Besides communicating succinctly on shared financial accounts and funds, unmarried couples can draw up a “Cohabitation Agreement,” which is essentially a legal documentation of all assets (including the house) and instructions for the maintenance of same. Establishing and authorizing a durable power of attorney is another option, and can allow a partner to access accounts and pay off bills if his or her partner is incapacitated.

A Will, A Way

Drawing up a will offers the best protection in the partnership scenario for home owners. Distinct guidelines for transfer of the home in case of death of one or the other can put a calm against the potential for any other claims among heirs.

Of course, this is a cursory glance into the aspects of home partnerships. For more information, consult a real estate professional, attorney or tax consultant.

Spring is a beautiful time of year, one of new life and new beginnings. It is also the start of the wedding season. My wife and I were wed almost two years ago, and I clearly remember how new and exciting those first few months together were. While your first few months together will be filled with many wonderful experiences, there may be some challenges along the way.

Perhaps the biggest challenge you will face concerns your finances. In fact, the single greatest cause of divorce in the US stems from financial difficulties. Because of this, it is important to start your married life on the right foot.

Start with a plan

One of the first things you will need to do is to decide whether or not to combine your finances. My wife and I combined our finances, but that may not be the best answer for everyone, at least not right away. Regardless of whether you combine your finances or not, you should always manage your finances together. The two of you can decide exactly how you want to do this, but it is highly recommended to share in the responsibility so both people know exactly what is going on.

Know how much you earn and how much you owe

Once you have decided how you will handle your finances, you and your spouse will need to have a clear picture of how much the two of you earn and how much you owe. Start with your recent paychecks and other sources of income (keep in mind your taxes may change slightly). Then, list all your recurring bills and expenses. An accurate list will help you both understand your key expenses and hopefully prevent surprises from jumping up and biting you!

Make a budget and decide how to pay bills

Now that you have a plan on how to handle your money together and a definitive list of all income and expenses, it is time to make a budget. Your budget will probably need some adjustments the first few months of living together, so remember to be flexible. When your budget is in place, you will need to decide how you will pay the bills. Will one person handle the majority of the bills, or will both people be responsible? Many people set up a joint e-mail account dedicated to handling e-mail reminders and electronic bill statements. This is a good way to keep all bills and important reminders in one place.

Create financial goals

Now that the two of you are on your way to financial harmony, you should start working on some financial goals. As newlyweds, there are likely many things you will want to do in the near future: buy a house, have children, travel, buy a new vehicle, and many other things. These all take money, and a lot of it! The only way you will achieve these financial milestones is to create a goal to achieve them. This will take a clear objective, a plan, a time frame, and a collaborative effort from you and your spouse.

Marriage can often be very similar to finances: It is not always easy, but it does not have to be hard either. When you are married, you are two people working as one. And your finances should be the same way.

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Patrick is the author of Cash Money Life, a blog about personal finance, career management, and self-improvement. He served in the United States Air Force, has traveled to over 35 countries, and is a fantasy baseball champion. He is an active lender at Prosper.

So you’ve found that special person in your life and now it’s time to buy an engagement ring. Buying the right engagement ring can be a costly endeavor and you may find yourself in need of a little financial assistance.  Prosper is the right choice for you.

The community at Prosper provides the support you need in helping you to obtain your dream. With Prosper, there are no stuffy bank staff for you to deal with. Instead it’s everyday people helping everyday people. And the best part is, you can choose your own rate and loan amount. You may even have the rate driven lower as lenders bid on your listing. You remain in control of your transaction, unlike with a major financial institution where they are in complete control. If you want to plan the perfect engagement and need assistance financially, Prosper is the best choice for you. The community at Prosper will help your engagement dreams a reality.

Now keep in mind, Prosper is not a place to come if you have extremely bad credit and want to avoid heading to the bank. It is still important that you have and maintain a decent credit score. So even though Prosper does not require a perfect credit score for you to get an engagement loan, if you do have poor credit, you may want to consider working on improving your credit before you join the community and apply for a loan. This will help you have a better chance of getting your Prosper loan, because those with an average or above average credit score can generally get more bids on your loan.

Once you take some time to browse around the Prosper website and check out the tutorials, you will quickly see how well person to person loans can work and how beneficial they can be to both parties involved. Choosing to use Prosper can be a great way for you to help pay for your engagement ring, so that you may be able to get the diamond ring of your choice for your future bride.

If you are completely unfamiliar with the concept of Prosper and person to person loans, it is definitely in your best interest to browse around and see how things work. Take some time to view other borrowers’ profiles and perhaps see if you can find one that slightly matches the situation that you are in. The more you know and the more prepared you are, the better chance you have at successfully gaining a loan from Proper. If you’re looking for a unique, affordable way to find the perfect engagement ring and plan the perfect engagement event, join Prosper today and let our community of lenders help you get on your way to achieving that goal.