The other day, my fiance and I went to Mens Warehouse to look at
Tuxedos. We actually found one that was only $199. However, that was just for the suit. The shirt and vest are extra. Since we had decided red, black and white would be the wedding colors, we briefly looked at the ties, which are also extra, but decided since we both liked a full tie rather then a bow tie, that we really didn't need a tie. Especially, since I already own a solid red tie. The nice thing is they do offer a layaway option. So, Tuesday, after I pay my regular bills, I think I may go back out and start the layaway process. Which is 20% down now, and the rest paid off in the next 60 days. That will also give me something to those occasional formal dinners that I get invitations to.
As for the wedding dress, we are not sure where or what to do there. We heard about a giveaway in Florida for brides like her that are unemployed. However, neither of us live in Florida or anywhere close. So that doesn't seem to be an option. Though, it would be nice, that option seems to be only a pipe dream.
Currently though, we have $1.44 saved up for the wedding and honeymoon. Our plans are for a simple wedding, without anything to extravagant. In fact, the planned honeymoon destination, would cost more then the planed wedding.
Current Weddings Savings: $1.44
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go ahead share your thoughts with me now, my ears are open. I'm always eager to hear what you think.
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Monday, October 19, 2009
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18 comments:
Why would you buy a tux? You can just rent one for a reasonable price at any of those chain rental places.
She needs a dress, it is so important. Look used online.
Renting a tux is about $100
Voice of reason here:
Why do you NEED a tux? You can get married in a suit.
For someone who talks about getting out of debt and only paying cash, you are doing this backwards by putting something on layaway that you can't afford. You still have debts to pay, not much of an emergency fund - yet you are going to pay for all of this too? With her on unemployment?
I'm not saying to delay the wedding, but you can have a very nice wedding on the cheap by opting for a suit or used tux, and a nice secondhand dress - of course, you will need more than $1.44.
You should SAVE THE MONEY first, THEN pay for the wedding, that's how all of your financial gurus would do it.
How much money do you need?
Hopefully your future wife can find a job quickly and a lot of money problems will be solved.
Greg - As someone else commented, a tux rental is $100. I can buy one for $199. Which would be more economical after the 2nd time I wore it. I am invited to a formal banquet at least once a year. $200 one time or $100/year. Doing the math it makes since to own rather then rent. Besides if I rent, I have to worry about getting the tux back to the shop, while I am trying to get out of town for the honeymoon.
Becky - I agree. She had thought of used just yesterday herself.
Anonymous - You are right and that is something we have thought about.
Anonymous - I am looking to save up $3,000+ $1,000 for the wedding and $2,000 for the honeymoon to New York.
Q - We hope so to, she has a job interview tomorrow.
I can't understand your thinking on this. I really can't imagine why you would put yourself more into debt, when you already owe so much. You still owe the IRS don't you? What about emergencies? Why can't you wear a nice suit or sport jacket? Doesn't your bride to be own a nice dress of some sort? Most women do. I am assuming this isn't her first wedding, so maybe your/her expectations should be scaled back to reality. My husband and I got married in front of a famous local justice of the peace. My husband to be wore a nice pair of slacks/sport jacket and I wore a nice white dress. Stuff we already had. I had a simple plain gold band, my husband does not/can not wear one because of his work. We didn't go into debt. Almost 26 years later, I am GLAD we spent the cash for a wedding on a house instead. Many houses later, I own a beautiful multi-million dollar home/estate (which I have lived in for the last 15 years).For my 25 year anniversary, my husband presented me with a beautiful (almost 3 carat) green (pretty rare) diamond ring. LIFE IS GOOD! What I am saying is that if you are willing to delay instant gratification now, you can reap great benefits later. Its this kind of short sited thinking that keeps you in debt. Its not a bargain if you really don't need it (like the tux) right now. Even if you can make payments on it, its not a necessity.You already owe on other things. Come on Kevin, you can do better than this. Practice what you preach.
adomesticprincess in Oregon
So you are asking people for donations?
I understand your wanting to get married soon, and also wanting to have a *nice* wedding and honeymoon. But, the logical thing to do when you still owe the IRS (and are paying interest on the debt) is to pay that off first, then save up for the wedding etc. and THEN have the wedding ;) Why can't the wedding wait until your fiance has a job, and you've both got out of debt? Setting a goal of wedding as soon as you are both debt free would be a *great* motivator.
However, since you are giving the debt repayments a lower priority than the wedding and house improvements, you should cut back the wedding costs as much as possible (not just as much as you feel like). My wedding was similar to what you have planned (eg. I bought a cheap formal suit that I could also wear on our Honeymoon cruise etc), we held the reception at my home and catered it ourselves... but I could well afford it. You can't.
Your justification for spending $199 for a tux rather than just wearing whatever jacket and tie you already have is flawed. You don't need a tux to get married, you don't need a tux to go to 'a formal banquet at least once a year'! With an IRS debt and practically no emergency fund, you don't NEED a tux at all!
On a separate note...
The debt figures listed seem wrong:
ie. Debt is listed as $4,581.85
but this seems to just include the
Car $2,987.88
and
Chase $1,593.97
What about the Therapy ($349.17) and IRS ($2,791.80)?
So, total debt is more like $7,722.82 ?
You could also list you savings targets and progress a bit more clearly, eg:
Emergency Fund: $534.69
Goal: $25,000
Car Fund: $0.00
Goal: $35,000
Wedding Fund: $1.44
Goal: $3,000
Your goals don't seem realistic given your recent progress. Currently you have a total of $536.13 saved towards a *goal* of $63,000! Less than 1% of the way there... Not to mention your ultimate *goal* of $1 million ;)
I suggest you start setting some achievable, short term goals. For example, add $5 to your EF each week, pay $10 to the IRS each week etc.
adomesticprincess in Oregon -
I understand where your coming from and no I really don't have a dress simply because I never wear dresses I all ready have had the homemade dress for one wedding. I want to save up the cash that is needed to do this wedding right, it is our wedding, our memories, we can still have a nice traditional style wedding, My first wedding was rushed, I felt like I really didn't make any decisions, the second wedding a marriage of convenience at the court house, for me this is the one! It has to be done right.
Princess of Thrift;
I would agree 100% with you if you could afford what your trying to do. If your not a dress kind of girl, then why don't you look into a nice skirt blouse combo or a nice multi-purpose little black dress that can be wore many times.I have even had friends get married in beautiful pants, blouse, jacket and hat. Doesn't that make more sense than a one time outfit (all easily obtained at the thrift store.) Kevin thinks he is going to be wearing his tux to formal affairs, so I am assuming you will be attending these events with him. I think it would be far smarter and more elegant for you to join him at these formal affairs in something other than your wedding gown. Lets face it, you are both in debt. Not sure how much you owe, but Kevin owes a lot, and $3000.00 wasted on a wedding could pay off a lot of the bills. As for memories, mine are just as wonderful in front of my local justice of the peace and maybe more so because I only had to do it once, and I didn't have to worry about debt. Money can be a major problem in a relationship, and I always respected myself and my husband enough not to put that burden on us. He felt the same way.
I bet Dave Ramsey wouldn't be impressed with the way your doing this either. Why don't you call him and see what he thinks.
adomesticprincess in Oregon
I am thinking are any red flags going up? You guys have only been dating about 4 months and this is her third marriage? What would more time, to pay off some debt, and save for the wedding hurt?
Plus Kevin do you want to have kids? If she is older is that a possibility?
Anonymous -
we are both in our 40's, making new children of our own less likely.
Her grown children and their children will make me a step-grandpa. However, we have discussed the possibility of adopting.
We do want to wait until we have saved the money, no matter how long that takes. In the mean time we will continue to window shop and get some ideas.
I see disaster and more debt in the future
Anonymous - why would you see disaster? They have said they want to save the money. They have never once said they want to borrow for any of the wedding. In fact the last comment from the prince himself, said that they would save up for the wedding, no mater how long it took. So again, how do you see disaster? and how do you see more debt?
Seriously?
The PRINCE and PRINCESS of Thrift are not going to pay off their debts before paying for a wedding?
Well Prince, what's more important, saving to pay cash for the wedding and honeymoon or paying down your remaining debt, I think that's the question you need to ask yourself.
If the future wife is more important than debt, then make minimum payments and save cash.
HS
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