January for Engagements

January 7, 2011

in Financial Future

Wedding Toast

Wedding Toast

January is the biggest month for engagements! That is a great way to start out the year. All of you who are here because of a new engagement congratulations! You have just started a wonderful journey that will become the rest of your life.

According to a study by Chase Slate and U.S. News, young adults (ages 18-34) are more committed to saving money and spending less than other age groups.

54% of young adults said that they planned on saving more money in 2011 compared to 27% of adults between the ages ofย  55 and 64.

I did find it interesting that 84% said they were planning on saving more but only 73% were planning on spending less. I guess the 11% that are planning on spending the same or more while saving more are expecting a wage increase.

If you are recently engaged and planning on saving more money, managing it better, and spending less, then that will start with your wedding.

Spending more money that you can afford on your wedding is unfortunately all too common. Starting your marriage life in debt is never good. There is time for that! It is common to add a house, car, and kids in the mix at some point after your marriage and each of those come with their own price tag. Try to avoid having to pay bills on your wedding and honeymoon.

That does not mean you can’t have a beautiful wedding. Beautiful weddings can be cheap weddings. So if you are in the group of young adults that want to save more money and spend less this year and you are recently engaged then don’t lose heart.

The survey also shows that young adults have the most optimistic outlook on the economy compared to the other age groups, which is a wonderful outlook to have.

Congratulations to the newly engaged!

{ 3 comments… read them below or add one }

Gina Alfani January 12, 2011 at 1:27 am

Happy Wednesday! Awesome post . . . The Captain and I are starting to plan a very simple and small ceremony on the beach ๐Ÿ™‚

Have an awesome day . . . Gina

Reply

Jennifer January 19, 2011 at 3:42 am

Nice blog out there. Wedding memories are nice to reminisce. My cousin will be married soon… I followed your site. visit me sometime…http://senseisarchive.blogspot.com/

Reply

Heidi January 19, 2011 at 8:55 pm

Thanks Jennifer. Weddings are so much fun ๐Ÿ™‚

Reply

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