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Common Money Myths and How to Stop Believing Them

The wedding was complicated and expensive. But it’s over and you are ready to settle back and enjoy your new life together. I’m here to warn you about some common money myths that newlyweds have been known to bring with them into their marriages.

But wait. You’re not a newlywed? No one is immune to believing these myths. No matter your marital status—learn these lies about money so you can stop believing them. It will improve your life.

 

 

Myth: Double the income, half the expenses

This is what I call newlywed fuzzy math: Merging your lives and incomes into one household is the equivalent of getting a raise. It goes like this:

When we live together, we split the rent or mortgage payment; we share the utilities and household expenses. We’ll have twice as much money.

Don’t believe that, not for a second. While there may be some truth in sharing expenses, the outcome is not what you think. Been there, done that, trust me on that. More likely, more money will immediately lead to more spending. Without a solid plan, that will quickly lead to more debt because you’ll use that money for a down payment on stuff you really want.

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9 Ideas for a Frugal (Not Cheap!) Wedding

I get a lot of mail on the subject of weddings. I get stories of joy and tales of woe; great ideas and even a blooper from time to time.

In 27 years, I cannot recall a single time I’ve heard from a bride or groom saying who wished they’d spent more money on their wedding.

The best wedding mail comes from frugal brides and grooms who are anxious to share their fabulous frugal ideas with future couples!

 

holding hands bride and groom at a wedding

Lean guest list

Our first guest list included everyone we knew. As the list (and grew), we realized that would be a really bad idea. Without intending to do so, we got very close to inviting people who would then feel obligated to attend a wedding for people they didn’t really know that well. We decided to whittle that list, seeing our wedding as a more intimate event rather than a big everyone-we-know blowout.

From where we started, we got the list down to 25%. Best decision ever. Our wedding was manageable, affordable, and exactly what we wanted—an intimate celebration of joy. Debbie

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