Welcome back, dear reader, to Money & Matrimony, and our first of 2023 (🥳)! The monthly series where I look at the intersection of spounces and spending, and try to demystify the financial nuisances of nuptials. Basically help you make budgeting and spending money on your next wedding easier!
Of course with the new year I’m thinking of resolutions. I mean, as a virgo I love nothing more than a clean slate that I can set up with my own rules and ideas and structure (I spend a delightful intimate time with my paper planner every last week of December).
But the idea of New Year’s Resolutions can come off as overkill. And so many times it is! That pressure of staying on top of something can do more harm than good!
So, instead, I’ve tried to look at resolutions as more of goals and intentions to set for myself through the New Year. Benchmarks that I strive to achieve throughout the year, and then evaluate as we reach December again.
This idea is something that can be applied to anything, soooo I of course want to see how we can plug this in to the world of weddings.
For any couples getting married in 2013, what goals and intentions can we create and establish to serve as New Year’s Resolutions for 2023? Let’s dive in.
New Year’s Resolutions for Married Couples in 2023
Budget Goals
I would say the biggest one here belongs to your budget. The money don’t lie!
Recent studies have shown that up to 74% of couples spend over what they originally budgeted.
This can be avoided! Make sure you do your research into what you’re interested in, and what’s available in the area where you plan to get hitched.
And by research I mean full research. Think about every vendor that you could consider for your wedding, and make sure to always have a line for any unexpected purchases. That buffer will come in handy more than you think!
And just make sure you check back with your budget on a regular basis. It can be a good touchstone as you move through the process of getting everything ready for the big day.
Set the intention of sticking to your wedding budget, check-in at regular intervals to keep you on track.
Communication Goals
As we all know, money can be a tough conversation. Money is sensitive, and everyone approaches money differently.
What can help here? Communication. Make sure to keep in touch with your fiance as you go through the wedding planning process.
Don’t be afraid of honestly vocalizing what you’re thinking or your opinions. Trust me, from friendships to life-long partnerships, communication will be your cornerstone.
Is there a wedding purchase you need to make that you’re unsure of? Tell your fiance!
Is there an upsell on a package you don’t think you need and can spend the money on something else? Tell your fiance!
Would you rather forego the fancy photo booth and save that money for spending on your honeymoon? Tell! Your! Fiance!
And this doesn’t need to be a big over-the-top argument. I say set an intention of finding time once a week for at least an hour to discuss with each other your financial queries regarding your wedding budget. Doing so will make sure everything gets out in the open and you’re as transparent as possible. Doing this once a week will also help dampen the possibility of blowing up in money-laiden arguments (at least regarding your upcoming wedding!).
Maybe It’s Next Year!
The last note I wanna stress is to take your time. You don’t need to get married ASAP when you’re newly engaged. Especially if it makes you nervous about your finances.
Maybe that’s your goal for 2023. Simply set a wedding budget goal for 2023 to have a certain amount of money saved up, or to have your credit cards paid off, so your wedding doesn’t just feel like debt piled on debt.
This is where communication can come into play, again. Work with each other and set your goals for what you want your wedding to look like for you. That’s who’s most important here.
What your financial new year’s resolutions? Let me know in the comments!
