Author Topic: NYTimes: "How to Get Help Paying for Your Wedding"  (Read 1729 times)

mbl

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NYTimes: "How to Get Help Paying for Your Wedding"
« on: May 10, 2018, 05:53:06 AM »
https://www.nytimes.com/2018/05/09/fashion/weddings/how-to-get-help-paying-for-your-wedding.html?rref=collection%2Fsectioncollection%2Fyour-money&action=click&contentCollection=your-money&region=stream&module=stream_unit&version=latest&contentPlacement=1&pgtype=sectionfront

I certainly feel and have said many times, to each his own.
People do pretty much what makes them happy and if having a wedding that
exceeds the cash you have on hand is what you choose.....well, knock yourself out.
But, reading this article pissed me off as it seems to defy logic.

Have at it kids...

tralfamadorian

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #1 on: May 10, 2018, 07:23:38 AM »
Quote
“A wedding is a depreciating asset,” Mr. Shagawat said.

How the hell does this statement end up in the NY Times?

mbl

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #2 on: May 10, 2018, 09:01:40 AM »
Quote
“A wedding is a depreciating asset,” Mr. Shagawat said.

How the hell does this statement end up in the NY Times?

Astounding!

Slee_stack

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #3 on: May 10, 2018, 09:27:20 AM »
Should be in Comedy and Shame forum?

I threw up in my mouth a little reading thru the article.  There's a few bits of sanity (downsize, cut expenses, etc.) but there's a lot of batshit stuff left in.

Can't afford it?  Take a home equity loan!  Save up longer and blow even more money you don't have!  Put it on a CC!  Shamelessly ask your friends to pay for it!


Its a party.  If you can't afford an expensive gala, don't have one.  Maybe take a moment to think of who (and WHY) you are trying to impress.   When the day is over, what do you have left?  What could you have done with all the money spent instead?  Simple questions that apparently are too TOUGH for the average consumer sukka.

AMandM

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #4 on: May 10, 2018, 01:07:41 PM »
The best part is the whole idea that a loan is "help paying."  Raiding your retirement is not a way to help pay for anything!

Astreja

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #5 on: May 10, 2018, 01:19:07 PM »
"Depreciating asset"?  No.  Just... no.  A wedding is an expense, not an asset.

The most important thing is the relationship, and it's pretty crass to see that as a financial transaction.

swampwiz

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #6 on: May 14, 2018, 07:28:41 AM »
The best wedding in the world would be a trip to Vegas to get married by Elvis or whoever, and then on to Hawaii.  No stress over wedding plans, and virtually NO COST.

Astreja

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #7 on: May 15, 2018, 01:25:10 PM »
The best wedding in the world would be a trip to Vegas to get married by Elvis or whoever, and then on to Hawaii.  No stress over wedding plans, and virtually NO COST.

That actually sounds like fun.  I've been involved with a couple of relatives' weddings, and got drafted as a bridesmaid for one of them, and the stress and fussing over details was palpable.  Nothing could convince me to go through that nonsense myself, let alone to inflict it on others.  (When I did get married it was at the local courthouse, no gown or any of that stuff.)

Rosy

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Re: NYTimes: "How to Get Help Paying for Your Wedding"
« Reply #8 on: May 15, 2018, 02:35:26 PM »
Quote
Money earmarked for the wedding should be kept out of aggressive investments. “Unless you’re more than five years away, you probably don’t want to be in stocks,” Ms. O’Neill said. Instead, consider a certificate of deposit, which offers varying maturity dates as well as better interest rates than money market or savings accounts.

WTH!? The very idea that your wedding expenses affect your investment and savings goals is jaw-dropping to me. 
Our family and friends have used all sorts of venues and thrown all sorts of parties. Generally, from $2K to $10K depending on the couple's/parents finances, I can't think of one that borrowed money for it.

It just seems that it would throw a shadow over your financial life together if you start out with debts for paying off a ring and an excessively expensive party. Sheesh - that's just plain foolishness.