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Bryana
Beginner May 2023

Money $$$

Bryana, on August 12, 2019 at 2:35 AM Posted in Community Conversations 0 17
How can you afford to have a wedding / honeymoon and buy a house a year later ??! Asking for a friend 😩

17 Comments

Latest activity by Rebecca, on August 12, 2019 at 5:09 PM
  • Sara
    Expert October 2019
    Sara ·
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    It’s almost impossible! Unless you pick up 3 jobs for both of you and your parents are helping out with the wedding. We are trying to do this. Our family helped us out with our wedding. And we were lucky to be gifted our hotel room for our honeymoon for 4 days. But anything my fiancé makes, he tries to put in savings. I really don’t think we can pay a house later this year. Maybe later in 2020.
    • Reply
  • Jennifer
    VIP October 2021
    Jennifer ·
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    Save for them. Budget for them. And enter many many sweepstakes!
    1) Save money for each thing separately.
    Figure out the cost of what is the highest and lowest you can do happily and safely and set that goal.
    2) Budget things you don’t need out. Starbucks every day or week- cut it, a drink- or 3- at the bar cut it and have them at home. Push that mani/pedi to once a month. Sucks but works.
    3) Sweepstakes at bridal shows, online ones too, can be a good way to get a honeymoon. Timeshare presentations suck 2-4hrs out of the vacation but are another way to do it.
    As are “Honeymoon”, or even “House” funds instead of gifts.

    Loans are another way to manage them, but can add up and become a weight you don’t want.
    You can also enlist family to help plan/do things for wedding, as part of wedding gift from
    them. Have an auntie who makes epic cakes: your wedding cake is done, that cousin who can play the violin and or sing- ceremony music!

    Best of luck
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  • D
    Super July 2020
    D ·
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    Have a smaller wedding budget than you would if not buying a house.
    Don't take a grand honeymoon. Some couples take a 5 day road trip. Or research cities with a lot of free activities.
    Don't plan on buying your forever house now. It's not ever smart to be house poor. Even if you can take $400k for a house loan doesn't mean you should. The mortgage payment might not be bad but with taxes and insurance it could be hard to do.
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  • C
    Master January 2019
    Cassidy ·
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    Save, budget, prioritize, cut back.
    I had started saving before we got engaged and had a couple thousand. My parents gave us half our budget.
    We got married in January and i wasn’t working from then until 2 weeks ago (finishing grad school/student teaching). We had to cut back A LOT. We can finally start fixing stuff around our house so we can list it. We’d like to be able to start the process in about 6 months. We also plan on getting some debt paid off in that time. We took a 3 day minimoon.
    We might not be the norm. We will get a sizable chunk of money from the house we have to sell which will be used as the down payment, but if we don’t work to pay down the debt, we will have a small one.
    Its doable, you just have to set goals and be on the same page. If you have something you want and are determined to get, with hard work you’ll get there.
    • Reply
  • M
    VIP December 2019
    Michelle ·
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    Some people get home loans with no money down with really good credit

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  • Kelly
    VIP October 2020
    Kelly ·
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    I think it depends on where you live. Where I live house prices enter the millions quickly so there is literally no way to buy one in under a year unless you both work amazing jobs. Or win the lottery.
    I think it's important to remember that life isn't a race and you should save money where you can but not to the point where you're miserable.
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  • E
    Devoted October 2021
    Erin ·
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    My FH and I are planning on doing this. Luckily my dad is contirbuting a little bit for our wedding which helps, but we also aren't having a super expensive wedding. My FH and I also got into the habit during college of already putting away a little bit of money and now we just keep to strict budgets. We're definitely going to have to wait and see what the housing market is in a year though because while there are a decent number of houses in our area that would be in our budget they're really hit or miss on if we like them or if they are smaller than we'd want
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  • Nikita
    VIP April 2019
    Nikita ·
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    Usually that only happens if there's a lot of saving ahead of time and/or people who are very generous and able to help. With our joint income we would have been able to save for a bit over a 3.5% downpayment (for about a $250k home) within a year after the wedding. Also, keep expectations for both realistic. It's easier to save if the wedding/honeymoon and home are at lower pricepoints.

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  • Ivy ORP
    VIP October 2019
    Ivy ORP ·
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    We actually bought our house last year, wedding in two months (from today!!!!!), and chose to wait till next year for our honeymoon. We save pretty well but also decided to cash out some extra stocks. We are having a pretty small wedding, both bought our outfits online for much cheaper than the traditional dress or suit shop route, and are skipping the things that didn't feel necessary or important to us. It can be done but you have to remember that the wedding is about the two of you committing to a life together. The rest is just the fluff we add for fun and pictures.

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  • Wendy
    Super August 2021
    Wendy ·
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    Save save save!!! We are currently buying our third house.. we’ll be selling the one we live at now, DW next year!!! And honeymoon to follow!! We have saved for the last 2 years for This! And we still a year out for the wedding... so save save save!!! You can do it!!
    • Reply
  • MrsD
    Legend July 2019
    MrsD ·
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    Everyone's budget is different, mostly dependent on income! I would really limit your wedding to a very small budget.

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  • Lauren
    VIP February 2020
    Lauren ·
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    Having a smaller budget wedding and honeymoon would help! We're blessed in that I already own a condo that FH will move into after we're married, our parents are paying for the wedding, and my FIL's are paying for some of the honeymoon (since my parents are covering most of the wedding costs). We wouldn't be able to do all 3 right now if we didn't have help (or we would've had to cut back a lot on the wedding)! We want to buy a house but will probably live in my condo for a year or 2 after the wedding.

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  • M
    Legend June 2019
    Melle ·
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    It's.. a lot to take in ahah. I think some of it has to do with being able to divide and save for each thing and sometimes it just has to be done in different times rather than all at once.
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  • Courtney
    Master December 2019
    Courtney ·
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    I will preface by saying we were very fortunate by being able to afford a home and a wedding within 3 years. My FH's mother passed away and left him a sizeable insurance payout- without that we would still be in our overpriced apartment.

    Since wedding planning we have been cutting costs for both the wedding and our day-to-day lives. We carpool to work, pack lunches, and cut down on frivolous expenditures. This meant no new clothes, video games, etc. We've even placed some home improvement projects on hold until next year.

    For the wedding we opted for an inclusive venue because we knew the effort of doing everything DIY wasn't going to be worth it in the end. The only thing we needed to worry about were some additional rentals, cake, flowers, music, photographer, and décor. Our rentals company ($300) and baker ($100) gave us a discount for being referrals from the venue. Our florists gave us a discount ($150) for picking up ourselves. Our DJ is doing our music for free as a gift. And shopping during sales, we decorated our whole wedding for $400!

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  • J
    Master October 2019
    Jolie ·
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    I understand the wedding and honeymoon struggle. We will be buying a new house next year. but we stepped into something lucky where a large company wants to buy our land in addition to 9 other neighbors. So it's easier once you have a house already because that's an asset, but I can't imagine having to save for a first house with everything else!

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  • Cher Horowitz
    Master December 2019
    Cher Horowitz ·
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    I would scale back drastically on a wedding and honeymoon if I also wanted a house!

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  • Rebecca
    Dedicated August 2019
    Rebecca ·
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    We skipped a honeymoon, downscaled our wedding expenses by having a small guest list and bought more of a fixer upper house that a lot of other people passed on.

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