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Debate post spin-off

I hope this doesn't sound too judgemental, but I feel very strongly about this.

I guess I have a different opinion on what do with monetary gifts. I think if you are given a BLANKET gift of $20,000, you should first  PAY OFF ALL DEBT! then put some in an IRA, emergency fund, regular savings, retirement 401ks, and then future children's college funds. If there is anything left, then you put money towards the wedding. If the $20000 is a WEDDING GIFT then you can use it for the wedding (but I would definitely pay off debt first). I think its important that we understand that a wedding doesn't have to cost 10% interest plus some at $40,000 for a one day event.  Pay cash, pay cash, pay cash. If you can't pay cash, save up until you do. Do not go into a marriage with debt or wedding debt. I don't think its worth it and money problems are the #1 reason for divorce.

Sorry, I've been teaching all day and I'm on my soap box. XOXO.Money mouth

Re: Debate post spin-off

  • edited December 2011

    girl you're preaching to the choir! This is a big thing to the girls on this board... no debt! Pay for what you can afford.
    That said- everyone's budget is a personal thing... and no one should judge over that. I think that's why everyones responses to the previous post all mentioned that it depends on the situation... b/c some people are debt free, do having savings, don't need future kids college funds at this time, etc.

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