Friday, 01 January 2016 11:28

Weddings and Christmas Debt...Dave answers!

Written by  Dave Ramsey
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Q. How do you have a wedding without debt?

 

A. Wow, where do I start on this one? I guess the best way is to tell the truth.

 

 

How do you have a wedding without debt? It’s really simple. You have a wedding with the money you have. There’s nothing wrong with small, inexpensive weddings. And once you accept that and start thinking about things from a mature, adult point of view, you’ll start realizing you can scrimp and save and have a really nice, small wedding.


Lots of people have beautiful, memorable ceremonies and even small receptions for less than $1,000. Sure, you can run out, go into debt and wear an $8,000 wedding dress for a few hours on one day of your life. Or, you can find one that’s much cheaper — even something that’s been worn one time — for a couple hundred dollars. Think that’s tacky? Well, let me tell you what’s even more tacky and dumb — going $15,000 to $20,000 in debt for one day!


To have a wedding without debt you have to be creative and think within your budget. That means growing up and not throwing a temper tantrum just because you can’t have every little thing you want. Most people don’t have lavish, expensive weddings, and guess what? Years down the road they’re still married, madly in love and laughing and hugging when they remember the best day of their lives.


Please, don’t turn what’s supposed to be a happy occasion into a financial mess that will take years to clean up!

 

Q. We’ve always just assumed that we would use credit cards for Christmas, and accepted the fact that there would be a mountain of debt to pay off in January and February. Can you tell us how to make it through the Christmas season next year without accumulating debt?


A. Giving is a wonderful thing if your intentions—and your finances—are in the right place. But don’t let yourself get trapped in the shopping bonanza just because everyone else is doing it. It’s all too easy to try to justify overspending in the weeks ahead just because it’s a gift.


It’s pretty simple. Look at your budget, and see what you can afford to pay cash for during the holiday season. Once you and your spouse agree on this amount, make a list, check it twice and stick to it! Include the names and amounts you are going to spend on each person or charity. It’s just common sense, but it’s easy to find something in the mall you “just have to buy.” That’s where problems start.


Giving is not meant to be stressful on your finances. Give with the right intentions, and give with a financial plan in mind that does not include debt. Another thing to remember is Christmas always falls on December 25th. Don’t wait until Thanksgiving to realize it’s right around the corner. You could even get a real jump on things, and set a little bit aside each month toward Christmas starting right now!

Last modified on Friday, 01 January 2016 11:34
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