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You’re happily engaged, but now comes the tough part—planning the wedding. And spoiler alert: Wedding costs tend to add up. Actually, let’s rephrase that: Wedding costs tend to really, really add up. (In fact, the average cost of a wedding in the U.S. was $33,000 in 2018. That’s a tough number to swallow.)
Sitting down and crafting a wedding budget might not have been the engagement fanfare you were hoping for, but it’s a crucial step in the wedding-planning process. The first thing to do, of course, is discuss your finances openly with your fiancé. You never know—maybe one of you has been quietly stashing away savings for years. And if that’s not the case, it’s perfectly okay. Now is the time to put it all out there in a judgment-free zone.
Next, decide together where the money for the wedding will come from. Will you pay for it all yourselves? Will your family and your future spouse’s family chip in? Who pays for what, and how do you even begin to bring this up to your families?
Luckily, our friends at SoFi can help you and your fiancé budget and save for the wedding. And with SoFi’s tips, you might find that saving for the wedding brings you and your future-spouse closer, instead of stressing you both out.
Take a breath, remember that you’re having a wedding to celebrate the love you and your fiancé share, and check out SoFi’s guide to saving for a wedding as a couple.
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