For many couples with a keen eye on their finances, a wedding cash registry, rather than a traditional wedding registry, may be an ideal option. Starting a newly wedded life together on sound financial footing can help couples avoid conflict that can arise from financial woes and stresses. According to premarital counselors, it’s important that marrying couples begin to discuss financial planning and household budgeting early on (preferably before the wedding) to establish a strong foundation.
For these and other reasons, it’s becoming increasingly popular to use the bridal registry or shower registry as a way to prepare for the future and meet financial challenges head on. With the help of wedding guests, family and friends, couples can use their wedding gift registry to help eliminate debt or to get started on the journey to a more prosperous future.
Here are a few ideas for the money savvy couple that wants to make the most of their cash gift registry:
Eliminate Credit Card Debt
For brides and grooms that already have substantial credit card debt, undertaking the often-hefty costs of a wedding can be a recipe for disaster. A bridal cash registry (or even a wedding wishing well or online wishing well) can help couples pay down existing and wedding-related debt, and ease financial related stress.
Pay off Student Loans
Student loan debt is on the rise, leaving many college-educated brides and grooms burdened by costly monthly payments. A wedding cash registry is ideal for helping to pay off education-related debts so that the new couple can save for the future or invest their money in a new home, car or other post-wedding necessities.
Start a Long-Term Savings Plan
Using money from a wedding registry to deposit into a long-term retirement savings plan is an ideal option for a frugal bride that likes to plan ahead. What better way to celebrate embarking toward the future together, than by planning for it?