The Game of Life
Average cost of getting married (wedding) - Wedding budgets are also ballooning in Canada, where the average expected cost rose to $23,330 last year from $20,129 in 2010Tips for saving:
- Consider the non-traditional times of year and a date other than a Saturday ceremony can save you big bucks!
- Don’t be shy about asking your guests for cash – especially if you’ve both lived together and have built your home
- Can you live with a used dress, seasonal flowers and buffet style dining insteading of a sit down meal? Small sacrifices can add up to huge savings!
- You don’t want to start your life together in debt, so remember that when things feel like they’re getting out of hand
- Get creative – do you have friends that could be your live band? Do you have a small business that you could barter for some services or even promote a brand for free stuff?
Tips for saving:
- Move closer to work
- Car pool
- Car shares
- Bikes and bike shares
Tips for saving:
- More and more Canadians are getting divorced later in life. It can be devastating on one’s retirement
- Invest – yes – invest in your marriage during the good years with counsellors before things go wrong, couples accounts, vacations together without the kids and more.
Tips for saving:
- Sharing nanny services with friends
- Shopping big ticket items like braces at your local university dentistry labs – young dentists can save you big bucks!
Tips for saving:
- Consider renting until you have a larger down payment
- If you have less than 20% saved, you’ll have to pay big fees to insure the mortgage
- Consider an income property - it might cost you more in the beginning, but a renter can help you become mortgage free much sooner.
- Ensure you buy in the right neighbourhood
- Even though a lender might approve you for more, it doesn’t mean you should take it – you have to respect the cashflow needed for your family’s comfort and resist becoming house poor!
Tips for Savings:
- Parents need to take advantage of the government’s 20% savings grant offered in the RESP shelter. And at the end of the day, an education is an investment.