Jump to content
Sign in to follow this  
juanil

Financial Preparation for Wedding

Recommended Posts

You can use red wine with anything meaty - marinate, stew, roast, etc, etc...but like May said, five boxes for cooking a bit gila la. If you don't mind, you can either give it to friends/family or open it and drink lor. My dad usually brings some alcohol to parties/housewarming that he attends - old school style, y'know.

As for my mum, dunno la. Maybe she's just paiseh. :P

Share this post


Link to post
Share on other sites

Escudo, what brand is ur red wine? and wat type? merlot, etc? how much is one box... maybe i shld store up for my house warming... hehe

Share this post


Link to post
Share on other sites

My wine is Merlot, year 2004. Actually, I like to drink wine, so I am quite happy there are some left, but never expect SO MUCH left. :S

I always open wine for any celebration, like CNY, gathering with frens, etc. Just that after pregnancy, can't drink anymore. <_< Even my 2 bottles of DOM remains unopened. Yaikkk.., so so so tempted to open and drink. :wacko:

Sorry woh baby, my wine not for sale. Better keep it another 10 years, wuahahhhaha....., since my wine can be kept, not like some of those, only kept for 2 years. Since the older the wine, the better it tastes~~~~

I was just wondering about cooking using red wine, but of course not using 5 boxes of them lahh..... ^_^

Share this post


Link to post
Share on other sites

I'm thinking of setting a budget of RM25-35K for the wedding lor... Coz now still scouting around and deciding what I want/need so then can trim down a bit...

My principle is I dun wanna start a marriage being pokai... Plus also my bf and I buying an apartment so will need furniture so lagi sakit on the pocket. Most important thing is the memories and that you're happy... No great need to splurge on super grand, super fancy wedding and end up paying so much

Just my 2 sens ler :)

*edit

hehe, oh yea... forgot to mention my wedding budget is supposed to cover for everything; tai kam jeh to invites to cakes to receptioon

Share this post


Link to post
Share on other sites

Wow this such a useful thread...

I will surely share this information with my bf. dont think he has any idea what it is going to be like. we are planning to get registered next year. but no idea when our actual wedding is suppose to be. we both are young executive. We dont really earn that much. and my bf dont really have a good habit of saving. he spends monthly on his passion. and i love to buy things too.

what is the best way to force saving? do we open an account together? Can we open a joint account without being married or registered? is it common that both couple join in to save money for the wedding? can it be solely the guy's responsibility?

Share this post


Link to post
Share on other sites

Hi Sandy,

money saving is all about discipline, i don't think by having a joint account would guarantee that money won't be spent like before.

Having a joint account makes it more tempting to overspend, as 2 salaries goes into it, and knowing that your bf has bad spending habits, it is somewhat not wise as he may end up using your hard earn money to spend on his passion hobbies.

Before you start saving for the wedding, research around how much things costs, like wedding venues, attires, decorations, etc and then put aside 10% or maybe more (depending on your wedding budget) in your individual savings account and see it grow. You have be to be discipline enough to NOT TOUCH the money.

If there's a need to wait abit longer to save up to your estimated budget, it's a good option, unless both parents are chipping in to help.

We all want to spend spend spend, but a limit must be put to it.

It is fair that both contribute money to the wedding budget, but me being old-fashion, i would want my partner to pay most of the cost, and i think most women would prefer that too.

It's all up to you, if you don't mind paying then go ahead.. :)

Most importantly, you two have similar agreements to who pays for this and that.

Share this post


Link to post
Share on other sites

Yea... you can have a joint account together; i just open one with my bf this jan... what i do is when i get my salary end of the month, i take out say 30% to 50% and immediately bank it in and don't touch it no matter what. The rest is for me to use, food, petrol or anything I want to buy...

Hehe, so I beginning of month will starve poor poor but towards end of the month when I see how much $$$ i have left, then happeee...

What i think is, yea can be only the guy's responsibility... but if you both dun really earn that much, it's more fair to save together coz if not, he save save everything cannot spend, and you spend, like not very nice la... that's what i feel anyway

Wow this such a useful thread...

I will surely share this information with my bf. dont think he has any idea what it is going to be like. we are planning to get registered next year. but no idea when our actual wedding is suppose to be. we both are young executive. We dont really earn that much. and my bf dont really have a good habit of saving. he spends monthly on his passion. and i love to buy things too.

what is the best way to force saving? do we open an account together? Can we open a joint account without being married or registered? is it common that both couple join in to save money for the wedding? can it be solely the guy's responsibility?

Share this post


Link to post
Share on other sites

Thanks vy much for those advise... appreciates it.

Think the best thing for me to do is to discuss this with my bf. Actually there are no plans yet for the wedding. We are only planning to get registered next year. But i think it's about time to think and plan for the big day since money dont grow on trees. i cant ask any money from my parents. guess his parents will help him with it afterall they have a family business.

That is my worry too. Sometimes i feel my bf is too dependant on his family. If he wants to get married, he has to take up the responsibility. But it is sometimes difficult to make him understand. We both dont have much savings at the moment. He has just started work not long ago afterall. And that passion of his is really taking quite alot of money. i agree with elaineganmaclaine... i'm kinda old fashion too..think the guy should hold more responsibility. Not so much so that i can keep my money but so that i can get some reassurance from him that i can depend on him financially in the future, that he will take care of me.

For example, we have been staying together for awhile now. We are both paying the rental half-half. Sometimes i cant understand why he cant pay the whole amount. *scratch head* Similarly like now, why am i the one worrying about all these matter when i know jolly well that he is busy looking for the next item to purchase for his passion hobby. *scratch head*

Share this post


Link to post
Share on other sites

Hmm.., Sandy..., if you think your bf should be more responsible, it should start with his own finance.

Regarding his passion hobby, usually we will indulge in it when we have excess $$, and not indulge in it with tight budget. If there is a plan to register, then u better think more on your life together loh.., since pat tor and getting married is 2 different things.

And dun forget, marriage is not about the Wedding Day and Dinner itself, but it is afterward. You both will need $$ when baby arrives.

Better think hard and plan long ahead. Time to be responsible. :)

Share this post


Link to post
Share on other sites

Thanks excudo...

i really love this website... everyone jus says the things we need to hear and not what we want to hear. It makes so much difference. What u said really makes sense to me. What everyone says makes so much sense to me.

I totally agree that ROM or AD or any of those things mean literally getting married. Being a MRS. Dont talk abt money, i cant even see a home coming along. We probably just going to keep renting the small apt we are now staying in. I worry that if i ask my bf if he planning for a home for us, it will freak him out. Afterall he is only 22 and just started working not long ago. But i just feel so pressured if i have to hold the responsibility to plan for our future.

Guess I got no choice and just plan ahead and try to talk to my bf.... :(

Share this post


Link to post
Share on other sites

Sandyleong, I read your entry in the "living with bf" thread, are you sure you are getting married for the correct reason?

Since I can see both u and bf are still very young, and without financial stability, nor emotional maturity, I would say this is a very shaky base for marriage.

Dun get married/register just because you are being pressurized, but because you are ready. Once you signed the dotted line, no turning back.

Just 2 cents from me. :)

Share this post


Link to post
Share on other sites
Wow this such a useful thread...

I will surely share this information with my bf. dont think he has any idea what it is going to be like. we are planning to get registered next year. but no idea when our actual wedding is suppose to be. we both are young executive. We dont really earn that much. and my bf dont really have a good habit of saving. he spends monthly on his passion. and i love to buy things too.

what is the best way to force saving? do we open an account together? Can we open a joint account without being married or registered? is it common that both couple join in to save money for the wedding? can it be solely the guy's responsibility?

Personally, I think that if you guys plan to marry and want to save money together, you can do it separately. The trouble with opening joint accounts is settling them if you suddenly break up in the future. I have had so many friends who do things together like a normal couple and when they broke off, had a horrible time trying to get back what they spent - houses in joint names, cars, bank accounts, etc. One guy even had to make do with losses because he put the car under his gf's name but he was paying for the loan and instalments.

I was also advised against this by my parents...so nothing wrong with listening to them. :)

What I did with my HB was that we sat down, discussed what our budget was like and we individually saved our own money. Then for the wedding, we brought whatever we have saved and split it down to who pays for what and etc. It was only after we got married, then we set up a joint account for savings and expenditure.

I think you should sit down and have a chat with your BF about this whole saving thing. It doesn't have to be just for the wedding. It can be for a rainy day or emergencies. Saving is a good habit. :)

Share this post


Link to post
Share on other sites

Me and my FH have been working for approx 8 yrs, we are financially pretty stable now. We own houses and cars individually, and we do have joint-named house as well. (we also take care or our own families..) But though money is not really a big issue here for our wedding planning, we do restrict ourselves to budget, not according to how much we have, but more to how much we need to spend. I'm given a very good budget to work with, but i won't finish spending it. 1 thing for sure is, i'll get the best deal for everthing we need!

I agree with the rest that $$ is much needed after the Bigday, for house, family planning and kids education.... rather than on BS, PS, AD blah blah blah... Well, of course it's 'once in our life time' type of thingy, we do pamper ourselves a little at things that we find okay... So, there's no hard & fast rule on wedding budget, it's purely depending on how you look at it. One of my collegues, with monthly income of RM20k plus, got married without having any ceremony.... and they are living happily, with kids now.... ^_^

Share this post


Link to post
Share on other sites

Escudo,

Why not consider selling it- in MB there is a forum for items to sell off :) maybe it will be a thing you could consider cause 5 boxes is quite a lot. And having to find storage for that might be a bit tricky. :)

Just my 2 cents :)

My wine is Merlot, year 2004. Actually, I like to drink wine, so I am quite happy there are some left, but never expect SO MUCH left. :S

I always open wine for any celebration, like CNY, gathering with frens, etc. Just that after pregnancy, can't drink anymore. <_< Even my 2 bottles of DOM remains unopened. Yaikkk.., so so so tempted to open and drink. :wacko:

Sorry woh baby, my wine not for sale. Better keep it another 10 years, wuahahhhaha....., since my wine can be kept, not like some of those, only kept for 2 years. Since the older the wine, the better it tastes~~~~

I was just wondering about cooking using red wine, but of course not using 5 boxes of them lahh..... ^_^

Share this post


Link to post
Share on other sites

Gosh, I've only started working recently whereas my BF has been working for 3 years now. So financially-wise, can't say we're earning a lot. I've always had a habit of saving but there's not really much to save when my monthly income is only RM1K!! Not to mention my BF never did save b4! (He had a China gf last time, so he flew out to see her a few times a year and all that went into credit card bills...)

I've been trying to get him to pay up all his bills so that he won't lose so much to interest, but no matter what, it was still quite a big sum to begin with so paying back is quite difficult. We're planning to get married in 3 years time and working with a budget of RM30k, we think it's more than enough for the entire wedding from GDL to PS/AD, invitations and the whole reception thing...

It's just the factoring in of us buying a condo and furniture that will make the saving difficult. We both live with our parents and I'm ok with that but my BF insists on having his own property. I don't want to get into debt over just one day, once in a lifetime or not, and should anything happen to either of us (choi choi, touch wood), at least my kids would have savings for education etc...

And you know how life is... So I want to have savings for that rainy day, for like insurance, car or house repair, hospitalisation or any sort of emergency... So I'm trying my best to save as much as possible now and cut costs for the wedding but sometimes it feels like I'm the only one because my BF keeps saying it will all work out and to trust him.

Me and my FH have been working for approx 8 yrs, we are financially pretty stable now. We own houses and cars individually, and we do have joint-named house as well. (we also take care or our own families..) But though money is not really a big issue here for our wedding planning, we do restrict ourselves to budget, not according to how much we have, but more to how much we need to spend. I'm given a very good budget to work with, but i won't finish spending it. 1 thing for sure is, i'll get the best deal for everthing we need!

I agree with the rest that $ is much needed after the Bigday, for house, family planning and kids education.... rather than on BS, PS, AD blah blah blah... Well, of course it's 'once in our life time' type of thingy, we do pamper ourselves a little at things that we find okay... So, there's no hard & fast rule on wedding budget, it's purely depending on how you look at it. One of my collegues, with monthly income of RM20k plus, got married without having any ceremony.... and they are living happily, with kids now.... ^_^

Share this post


Link to post
Share on other sites

One way to force urself to save... lets say ur salary enters ur account on the 1st of every mth... then do a standing instruction on 1st of every month to debit RMXXX amount into ur joint savings account or ur another savings account... it is always better to have joint signature and without ATM card... so its very hard to withdraw the money...

Then when ur savings reached like RM1k or more, put them into FD... earn more interest... keep on add ur FD lor...

Just my opinion...

p/s: Escudo, its ok... just asking in case u wanna sell... :)

Share this post


Link to post
Share on other sites

*glum*

unfortunately, my problem is not so much that I keep spending... Okay, I mean like, I do buy things but I tend to control myself tightly... My problem is more that my salary is so little, there's not much I can save!

:(

After deduct for petrol and the most minimal amount for food (trying to not eat lunch at office: good for diet and wallet) and token amount for parents... percentage-wise, sounds high but $$$ not really that much

Example:

Salary RM1K

Save 50% =RM500

RM500 * 12mths * 3yrs = RM18,000.

And even then it's not like I can save 50% each month... Sometimes just need to spend the money, like shampoo etc...

SIGH!!!

Share this post


Link to post
Share on other sites

Come to think of it, 1k is surely very tough to save no matter how you try.

May i know currently what's your job position?

I mean if you have a decent diploma or degree in any field, i would think you're underpaid. If you have at least 1 year experience, i am sure you can be employed for more than 1.5k at least.

I'm not encouraging frequent job hopping, but do relook into your career prospects, especially in the salary category, to live in KL these days is no longer that affordable, groceries are getting more expensive, so therefore with your salary i don't think i can even barely survive, unless:

- Living with your parents,

- Take public transport,

- Pack lunch to work from home.

Share this post


Link to post
Share on other sites

If you have small amont to save every month but you want to earn FD interests, besides saving them aside to make it 1k before you can save in the conventional FD, another alternative is you can open an Easigrow account from HSB*. They allow you to save little amount monthly and it will be deducted from your a/c every month so there's no hassle. It is also a force saving as in if you stop for 3 mths, your Easigrow a/c will be closed and you get back your money only w/o the interests. So for this reason, you won't stop saving in order to protect the interest you've earned.

This is an alternative way of saving for those who like to save in FD.

If you have extra money, I would advise you to invest. Because FD interest rate cannot overtake the inflation rate in Malaysia.

Share this post


Link to post
Share on other sites

According to employment laws in Malaysia, the minimum wage for a degree holder is RM2.5K - you base your salary on that and other things like inflation, transportation costs and what-not. I believe that the Malaysian job market is still doing rather well, so if you're being underpaid, maybe it's time to consider switching jobs.

Miche, have you considered supplementing your income by taking on freelance jobs? That helps as well. And yes, it's very hard to save on 1K unless you don't eat, don't drive and don't go out. I could only start seriously saving when my income was 2K.

As for your FH, maybe have a chat with him about your financial goals and how you want to go about them. Like if he has his heart set on getting a property of his own, he needs to have a plan and follow it through as well...not just like NATO (No Action, Talk Only).

Share this post


Link to post
Share on other sites
According to employment laws in Malaysia, the minimum wage for a degree holder is RM2.5K - you base your salary on that and other things like inflation, transportation costs and what-not. I believe that the Malaysian job market is still doing rather well, so if you're being underpaid, maybe it's time to consider switching jobs.

Sorry but malaysia employment laws do state mininum wage is 2.5k? I am a degree holder and I start from 1.6k and after fews year time working only reach 2.5k, wish I know such law exist.

Share this post


Link to post
Share on other sites

i think 6 yrs ago... with a degree is RM1.8k to RM1.9k... then now 2008, i am sure degree holder is earning more than RM1.8k to RM1.9k as starting salary...

Share this post


Link to post
Share on other sites

For designers/ Architects, there's no way one (With Degree) can get hired for even 1.8k! Market rate for us is at least 1.5k for fresh grad. That's how pathetic my industry is, but once experience is gained, with at least 4 years, it can go above 3k, depending on portfolio and involvement in projects.

Maybe it is 2.5k for lawyers, IT grads, Medical grads and other industries, surely not mine.

Share this post


Link to post
Share on other sites

i am an internal auditor... i was earning RM1.8k when i graduated in 2002... i was on a scholarship... bonded to the company for 2 yrs after i graduated... they paid me rm1.8k to start off... rm1.8k is selangor/kl price... if ipoh/penang, it was rm1.5k...

Share this post


Link to post
Share on other sites

It is still better than when i first started! <_<

Now i'm no longer grumbling as i've somewhat achieved the 'contented salary' phase. :)

i am an internal auditor... i was earning RM1.8k when i graduated in 2002... i was on a scholarship... bonded to the company for 2 yrs after i graduated... they paid me rm1.8k to start off... rm1.8k is selangor/kl price... if ipoh/penang, it was rm1.5k...

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

×
×
  • Create New...