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KimberlyScott
Graceyn=My World <3
Member since 10/08 4173 total posts
Name:
Kimberly
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Wedding Gifts - Debt
How many of you were fortunate enough to put your wedding gifts towards a home? How many used your gifts to pay off debt?
I'm bummed b/c I'm thinking that I should put our savings towards our student loans and credit cards and start fresh.
Message edited 11/17/2008 6:32:22 PM.
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Posted 11/17/08 6:31 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
anjerandunder
Positive thoughts worked!!!
Member since 6/06 1909 total posts
Name:
J
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Re: Wedding Gifts - Debt
mo: its always better to have some money saved. if you pay off little by little at least you'll still have money in the bank.
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| Posted 11/17/08 8:23 PM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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Re: Wedding Gifts - Debt
we put our wedding $ to debt...honestly the amount we got wouldn't even be enough to put a down payment on a house anyway...(our families are not very well off, and they gave what they could)
ETA: we did put SOME in savings--just as an emergency cushion for ourselves...but majority went to our bills together.
Message edited 11/18/2008 12:52:38 AM.
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| Posted 11/18/08 12:51 AM |
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Chrisnamy
Summer is coming soon
Member since 1/07 3991 total posts
Name:
Amy
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Re: Wedding Gifts - Debt
We put it into Savings/CD's
it wasn't a lot of money but we felt it was better to have a Emergancy fund.
We got better at paying down our debit
and now we are debit free and we have money in savings.
Message edited 11/18/2008 11:11:02 AM.
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| Posted 11/18/08 10:52 AM |
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Re: Wedding Gifts - Debt
We were fortunate enough to have purchased a house before our wedding. Years of saving while living with our parents really helped that! We paid our wedding in full (without any loans) and we hardly have any debt (credit cards, etc.) We actually put the wedding money in a savings account. We don't touch it. Its there for emergencies only! Its nice to know we have that reserve especially in today's economy
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| Posted 11/18/08 11:38 AM |
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angnick
Life is So Wonderful!
Member since 8/06 6663 total posts
Name:
Angela
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Re: Wedding Gifts - Debt
we were able to put it toward a down payment on a home.
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| Posted 11/18/08 2:10 PM |
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MetsGirl07
LIF O2 Vendor
Member since 12/07 16202 total posts
Name:
Deanna
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Re: Wedding Gifts - Debt
we put it all towards credit card debt
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| Posted 11/18/08 2:41 PM |
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KimberlyScott
Graceyn=My World <3
Member since 10/08 4173 total posts
Name:
Kimberly
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Re: Wedding Gifts - Debt
Thank you ladies for sharing. I wasn't too sure if the question was too personal.
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| Posted 11/18/08 3:11 PM |
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Tulips915
................
Member since 8/08 6851 total posts
Name:
Me
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Re: Wedding Gifts - Debt
We put most of it towards savings and some towards debt.
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| Posted 11/18/08 3:27 PM |
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OStewarts
LIF Adult
Member since 11/07 1096 total posts
Name:
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Re: Wedding Gifts - Debt
We put our wedding money into our savings account, even though I have enormous student loan debt from law school. We have no credit card debt and since my student loans have such a low interest rate, we're using the wedding money towards a down payment on a house and as our emergency fund.
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| Posted 11/18/08 8:12 PM |
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lovemy2boys
LIF Adult
Member since 10/07 3915 total posts
Name:
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Re: Wedding Gifts - Debt
we used most of ours on renovations in our coop
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| Posted 11/20/08 6:28 PM |
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shoegal68
LIF Toddler
Member since 6/08 422 total posts
Name:
Sandy
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Re: Wedding Gifts - Debt
we used some to pay off our honeymoon and the rest we put into a money market account.
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| Posted 11/20/08 8:35 PM |
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6months
LIF Adolescent
Member since 11/08 598 total posts
Name:
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Re: Wedding Gifts - Debt
We put them towards our lhousing expenses
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| Posted 11/21/08 9:19 AM |
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Sherwood
LIF Adult
Member since 8/08 1643 total posts
Name:
s
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Re: Wedding Gifts - Debt
Posted by angnick
we were able to put it toward a down payment on a home.
Us too
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| Posted 11/21/08 12:20 PM |
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bellaluna
Baby come on out!
Member since 11/08 1934 total posts
Name:
Jess
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Re: Wedding Gifts - Debt
We split it 50/50 - savings and debt
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| Posted 11/21/08 3:36 PM |
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Re: Wedding Gifts - Debt
We made a decision not to touch our wedding gifts. We used our own money to pay off our debt over time. I think its easier to save the money when you have a larger amount, but thats just me. For example if I have 10K in the bank I am less likely to tap into it because its 10K and sounds like a lot. If I only have 1K i get discouraged and would take it out if i needed it because its "only" 1K. It would take forever to save the 10K.
From what I have heard you shouldn't worry about student loans.
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| Posted 11/22/08 7:31 AM |
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TheDivineMrsM
2 girls 4 me!
Member since 8/08 7878 total posts
Name:
Mama mama mama....
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Re: Wedding Gifts - Debt
We already had a house when we got married (bought it six months before the wedding) so we put our wedding gifts into renovations.
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| Posted 11/23/08 2:27 PM |
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july06bride
I'm a mom!
Member since 5/05 3966 total posts
Name:
Nicole
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Re: Wedding Gifts - Debt
We were fortunate to have a house already, so we used the wedding money on CC bills and savings
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| Posted 11/23/08 7:31 PM |
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ARIELSMOM
Love my Babes
Member since 8/05 5889 total posts
Name:
MEREDITH
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Re: Wedding Gifts - Debt
thankfully we didnt have any debt. the money was saved to purchase a house.
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| Posted 11/24/08 10:21 AM |
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anonttcer
BOOOO for fall!
Member since 7/06 10082 total posts
Name:
Meaning a NON ttcer!
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Re: Wedding Gifts - Debt
We had no debt. We bought our home a few months before our wedding and pretty much drained our savings accts to put a nice size down payment down.
So we used our wedding money to pretty much replenish our savings accts...
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| Posted 11/25/08 9:30 AM |
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KGools
Happy
Member since 9/06 9532 total posts
Name:
Kim
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Re: Wedding Gifts - Debt
Posted by bellaluna
We split it 50/50 - savings and debt
That's what we did.
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| Posted 11/25/08 10:05 AM |
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FaBuLoUsMrsT08
LIF Infant
Member since 11/08 192 total posts
Name:
Krystal
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Re: Wedding Gifts - Debt
we are planning on putting what we got into a CD probably. As much as i would like to pay off some debt... i would rather put the money aside to have it in case of emergency or eventually put toward a home if we can save some more money.
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| Posted 11/26/08 10:09 AM |
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sj-girl
Happy Family of 4
Member since 5/08 5654 total posts
Name:
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Re: Wedding Gifts - Debt
we put ours towards our cc debt, since we had already owned a home
but the rules to buy a home in NJ is way different then NY
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| Posted 11/26/08 2:20 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: Wedding Gifts - Debt
We had no credit card debt and therefore have just been saving it up. We will probably buy a house in a year and a half.
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| Posted 11/28/08 6:30 PM |
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mikeandjess
LIF Adult
Member since 10/07 2278 total posts
Name:
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Re: Wedding Gifts - Debt
all our wedding gifts went towards paying for the wedding and we still owed a little after that. It would have been great if we could have used the gifts for a down payment on a house.
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| Posted 12/4/08 9:59 AM |
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