Money Mistakes: The Expensive Wedding
BOSTON (CBS) - Money mistakes has been a popular topic with our listeners and many have been willing to share their experiences.
Maybe it's the anonymity that is appealing. It is easier to share when on one knows who they are.
We have all done dumb things with money. And sometimes it is something we didn't do and should have!
I don't know anyone who doesn't have at least one money regret. And some individuals have many. So learn if you can from other people's mistakes.
This summer I was at a wedding in Florida and the reception conversation at our table turned to divorce and money. The couple getting married had both been divorced so that was a lead off subject. Many of the attendees were willing to share their money regrets regarding marriage and weddings. No surprise, many regretted the price tag of their own wedding.
Weddings are expensive, often costing thousands, averaging $30,000 across the country. Now the regret sets in after the wedding or honeymoon when the couple begins to think beyond their wedding day. The credit card bills come due or they want to buy a house and those dollars spent on the perfect day are all gone.
It was interesting to hear what many thought were not important now but had been when planning their wedding. Out of season flowers, chair covers, an open bar, hand done calligraphy, $400 shoes that get kicked off to dance, groom cakes, elaborate wedding cakes, monogrammed anything, dance lessons, save the date cards, horse & carriage ride to the church, 9 bridesmaids, the professional hair and makeup artists that come to you, personal trainers and gym memberships so you fit into the tux or dress, dress preservation for a dress that sits in your mom's attic.
And if the marriage ended in a divorce they definitely regretted all that money spent on one day! One brave soul said she regretted not having a money conversation with her fiancé. She did not know how much debt he brought with him into the marriage.
You can hear Dee Lee's expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m. and 3:55 p.m.
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