Posts Tagged ‘marriage’

The Cost of Attending a Wedding in 2017

Posted on June 16, 2017 by Laura Lam

Wedding season is upon us.  According to theKnot.com, the average cost of a wedding in 2016 rose to an all-time high of $35,329.  But modern weddings aren’t just ultra-expensive for the happy couple, they’re actually a serious, wallet-emptying affair for guests as well. According to the Knot’s 2016 Wedding Guest Study, the average bridesmaid/groomsman spent just over $1,500 last year, while wedding guests spent $888.  Here’s a breakdown of the costs: Average bridesmaid and groomsmen spend per wedding: $1,154 Wedding gift spend: $177 Wedding attire: $207 Wedding travel: $342 Wedding accommodations: $293 Average wedding guest spend per wedding total: $888…

Budgeting Tips for Marital Bliss

Posted on September 03, 2015 by Saldutti

September is the third most popular month for weddings.  Are you among the numerous couples who will celebrate your nuptials this time of year?  Congratulations!  Now that you’re back from that honeymoon (and hopefully enjoyed a moderate splurge on some remote island), it’s time to get serious about your finances. The Daily Worth offers this advice, gleaned from several experts, on the five steps you’ll want to follow to keep the financial part of your marriage blissful — whether you’re merging finances or not. Decide What to Merge – and What Not to Merge – To have a joint account or not to have a joint account?…

Newlyweds Should Prepare for Next Year’s Taxes

Posted on August 04, 2015 by Saldutti

Getting married is one of those life events that can throw your financial plan into disarray, but financial planning doesn’t have to be daunting after marriage. If you got married this year or are simply planning to, your tax situation will change significantly and careful planning today can mean you save as much as possible next year. Check Your Tax Withholding – The first item on the list should be adjusting your tax withholding with your employer.  When you are newly married, your income tax liability will change depending on your spouse’s income. It can be higher or lower and…

For Better of For Worse? Marriage and Taxes

Posted on January 19, 2015 by Saldutti

The day you walked down the aisle, you dreamed about all the things that come with happily ever after – from moonlit walks on the beach to his and hers hand towels. Now it’s time to share another time-honored marital tradition: filing taxes.  If this is your first tax season as husband and wife, financial author and radio host Dave Ramsey points out 4 things that will be different this time around. Your Personal Information – To make your first tax-filing as a couple as smooth as possible, you’ll need to take care of a couple of things first. If…

'Til Debt Do Us Part: Average Wedding Cost Rises

Posted on September 26, 2014 by Saldutti

According to a spring TheKnot.com study, the average wedding cost today is $29,858, not including the honeymoon. Couples typically spend between $18,900 and $31,500 but, many couples spend less than $10,000. The Real Weddings Study, which surveyed 13,000 US brides and grooms married in 2013, captures detailed wedding information on the average costs, number of guests, style trends and other key statistics. Growing Budgets – Couples are spending more on their weddings than ever. Following the trend of growing budgets for the past two years, wedding budgets are at an all-time high with the average wedding cost hitting $29,858.  Less…

Wedding Gift Etiquette: How Much Should You Spend?

Posted on June 27, 2014 by Saldutti

As anyone who’s ever paid for or attended a wedding knows, celebrating eternal love can get pricey. Not only is the cost of a wedding soaring — couples spent an average of $30,000 in 2013, according to TheKnot.com, up from $28,000 the year before and the highest level since 2008 — but wedding guests are spending more than ever, as well.  An American Express survey found guests spent an average of $539 on weddings in 2013, up from $339 in 2012. Bridal party members spent even more, shelling out $577 on average. Expenses like travel, hotel stays and wedding attire…

The Worst Financial Mistakes Newlyweds Make

Posted on June 24, 2014 by Saldutti

A recent Kansas State University study found that if couples argued about money at the beginning of their marriage, they were more likely to report poor relationship satisfaction in the long-term. This is precisely why experts say it’s key for couples to tackle money issues early – to stave off fights over finances in the future. So what are the most common financial blunders that newlyweds tend to make? LearnVest asked financial pros to pinpoint the eight biggest offenders — and then offer up some advice for how to help right them early on.   Not knowing your partner’s ‘money…

A Ring or a House: Which Investment Should You Make?

Posted on December 12, 2013 by Saldutti

The heck with lovey-dovey Valentine’s Day. Turns out December, with its holiday cheer, romantic winter backdrops and family gatherings, is among the busiest months for popping the question. As the fall sets in and couples get cozy, jewelry stores and wedding planners anxiously await their impending business boom. Almost every little girl has a picture of what her ideal wedding proposal will be like and dreams of the day she will walk down the aisle. From the ring and the gown to the perfect venue and the flowers, no detail is spared. But have you ever stopped to think –…

Tax Advantages of Getting Married

Posted on February 14, 2013 by Saldutti

There are many good reasons to get married – true love and compatibility being among the best. No one would suggest that you tie the knot simply to acquire the tax blessings of the Internal Revenue Service. But the tax code does provide a few wedding gifts to those who say “I do.”  Kevin O’Brien, a former University of Denver professor, Libby Fay, a certified public accountant, and Valerie Antonioli, a certified financial planner and investment adviser, offers these tips to Intuit.com for making the extended honeymoon a little sweeter when you prepare your tax return. For years, taxpayers complained…

What's It Worth?

Posted on June 14, 2011 by Saldutti

The Monetary Value Of A Happy Marriage Economists David Blanchflower and Andrew Oswald calculated the “compensation value” of life events like employment and marriage by surveying 100,000 Americans and Britons from the 1970s to the 1990s.  In terms of happiness, they found that marriage was worth an impressive $100,000 annually.  Meanwhile the psychological value of employment is worth $60,000 annually.  New York Times columnist David Brooks mentioned this study in his new book, The Social Animal: The Hidden Sources of Love, Character and Achievement. But he went a step further: People vastly overvalue work, money, and real estate. They vastly…