Congratulations on your engagement! We hope that this exciting period brings with it much joy and hope for many happy years of marriage.

With what is supposed to be one of the highlights in our lives, preparing to make this lifelong commitment requires careful consideration of your finances. From the big day to the purchase of a new home, a family car or making investments into your new life together, we are here to help guide you on how best to manage your money and make adequate adjustments based on your evolving needs and goals.

That said, here are a few points to consider in the lead up to this new journey in life:

1. Open a wedding account: Saving a little every week/month will always add up in the long run and help you buffer against rising costs at the cash register.  This new account can be a joint account (between you and your fiance) and be easily accessible so that contributions toward upcoming expenses can be made by both. Beyond your wedding day, this account can be used to help build a solid foundation to access mortgage and vehicle loans in the future. To help you get started, try our our Premium Interest Savings Account: https://bit.ly/3vZuJm8, our Future Foundation Fixed Deposit: https://bit.ly/3W4x3mK or any of our loan options HERE: https://bit.ly/3w2veMc !
2. Create a budget for your wedding day:  REMEMBER, there is life after your wedding day. While we all want the happiest day of our lives to be everything we’ve ever hoped or dreamed for, it is important that we are mindful of what we can realistically afford without sacrificing other important factors which contribute to our quality of life. So…determine what your needs are, create a budget and as best as you can STICK TO IT!
3. Trim expenses: There’s always value in price checking with multiple suppliers/service providers and doing it yourself whenever you can. From the moment wedding plans get underway, seek recommendations from those who may know retailers or service providers that can give you your heart’s desires (within budget) and allow you to receive the best quality available for your available spend. If going with an external provider is proving to be too expensive, try working around this challenge by engaging a family member or friend who may be willing to help out by decorating the venue, baking your wedding cake or catering for invited guests at a reduced cost.
4. Get rid of debt: Wouldn’t it be nice to start this new journey having repaid all existing debt and having a fresh start as you navigate through life together? By repaying debt in advance of your nuptials, you now have more wiggle room to invest into your wedding, your new family home, your children’s college education and so much more! Plus, by repaying your debt ahead of time, you SAVE BIG by not having to repay the interest on the remaining time frame on your loan. If however this is not possible, it is important that you two make a plan to tackle existing debt TOGETHER!
5. Discuss future goals and spending decisions: At some point there should be conversation surrounding your individual and joint goals; so whether it be your wedding expenses, day-to-day costs as a married couple, plans to go back to school or the purchase of big -ticket items such as a car or a home, both of you need to be on the same page and work together to ensure that finances are managed effectively without being forced to leave anything behind.

There are so many more tips that we can share, however for personalized solutions our Financial Advisors are available to help! Connect with us today at 622-4035 or via email at service@becuonline.com to become a member and get started on your new life journey today!