Posted by Lending Club :: April 1, 2008 @ 1:11 pm
Will your wallet survive this year’s wedding season? With summer just around the bend, here are 5 practical tips to save money this wedding season and still stay classy.
1. Hit the registry early
Cheaper registry gifts go fast. More creative/personal gifts will go fast as well. Go online as soon as possible and check out what the couple has registered for.
2. Don't give a gift right away
Traditional etiquette says that you can take up to a year following the wedding to give a wedding present. If even the most inexpensive gift is beyond your means, but you can still afford to go to the wedding, you should attend and leave the couple a truly sincere letter or card. Heck, words can be much more valuable than a toaster if you do it right. If you’re wondering where your next meal is going to come from (after the reception dinner, of course), a heartfelt letter should be fine. Your family and close friends will certainly be forgiving if you can’t afford a gift right away (or at all).
3. Give cash
A nice card and any amount of cash is always a welcome gift. Especially if the only items left on the couple's registry are spendy, cash is a thrifty option. Grab a card, enclose some money and you're golden.
4. Get creative...but be personal
You must be very careful when getting creative with wedding gifts. If you're going to go "off –registry," make sure it's something personal (or at least something that can be returned or exchanged). A nice scrapbook is a good registry alternative, that talking fish trophy you saw at Wal-Mart is not.
For the socially minded couple, consider sponsoring a child/water-well/chicken in their name. It's thoughtful and won't break the bank.
5. Make room in your budget
Around this time of year, estimate how many weddings you'll be attending the rest of the year so that you can budget accordingly. A general rule of thumb is to estimate how much the meal will cost, probably somewhere between $65 and $150 per person. If you are bringing a guest, you can both contribute to the gift. Obviously you should adjust this according to your financial situation, and how well you know the happy couple.
Credit card debt got you down?
If you’re dreading putting your gifts on your credit cards, maybe it’s time to put away your plastic. Consider a low interest rate personal loan from Lending Club to refinance your credit card debt. You’ll get a great rate with predictable installment payments, and you’ll be on your way to being debt free in 3 years!
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5 Comments
[...] I just wrote a post for Lending Club about giving frugal
wedding gifts. [...]
How about giving the gift of honesty? Go to the wedding, spend the
gas money to get there, and be honest with your friends. "I'm
severely in debt, and can't afford to give you a gift today. When
I'm out of debt, I'll be sure to pay you back..." or something like
that.
In addition to the cash idea is the gift card idea to one of the
places they registered. Shopping sprees, no matter how small, are
appreciated. In terms of 'off-registry gifts that pretty much never
fail', gift certificates to their favorite restaurants are nice. If
they are moving into a new place, it takes awhile to get the
kitchen moving, and free easy food is welcome. Another option is
putting together a care package for either the wedding night hotel
stay, or their honeymoon trip. Inexpensive things like Munchies,
and Doritos! and chocolate are usually perfect, because odds are
they didn't eat enough at the reception. Put those in a simple
basket with two champagne glasses, an inexpensive bottle of bubbly,
two votives, a book of matches...and we have a winner. Honeymoon
carepackage includes everything in the Mini-travel isle, plus lots
of simple snacks, gum, bug repellent (depends on destination), ear
plugs, etc. All the stuff they forgot to bring.
Here's two great options: 1) Get together with a group of wedding
goers and add your cashes together for a gift. 2) Make something
for the happy couple. A scrapbook of memories or a mini-photo
album. At my Aunt Peg's wedding, one of her friends snapped a photo
of the kiss and stopped at a kodak kiosk on the way to the
reception to crop and print. She had already purchased a plain
photo mat and a calligraphy pen. She passed the mat and pen around
at the beginning of the reception for everyone to write their well
wishes on. When the mat was full, she inserted the picture and set
it on the gift table. Her total coast? $15.00 Total time involved:
30 minutes. The picture still sits in the living room.
[...] April and May are the beginning of wedding season and that
means wedding gifts. Lending Club shares some ideas on how to
survive wedding season without going broke. [...]
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