Should I split my savings into my dreams or save 1 thing?

Charleyalmostking

I'll be starting my finance journey again next month & this time be more self-disciplined.
We were going to save £5,600 for the wedding, I just bumped it up for lee-way.
I'll have a little look around to see how much we can save.

I gave my fiance £100 as I owed him £200+ for when we first moved into our rented house.
I just want to pay that off for him first. I usually pay £40 as he doesn't mind when he gets it back as long as he gets it back, but I just thought it's quicker to pay him off then try and save whilst having to owe him so much .

Alexland

Charleyalmostking wrote: »

I'll be starting my finance journey again next month & this time be more self-disciplined.
We were going to save £5,600 for the wedding, I just bumped it up for lee-way.
I'll have a little look around to see how much we can save.

I gave my fiance £100 as I owed him £200+ for when we first moved into our rented house.
I just want to pay that off for him first. I usually pay £40 as he doesn't mind when he gets it back as long as he gets it back, but I just thought it's quicker to pay him off then try and save whilst having to owe him so much .

Have you considered a Joint account such as the 5% Nationwide Flex Direct? I have no idea and didn't keep track how much money we each contributed to our wedding as the money was all jumbled up together.

There is research that shows that couples that share finances and achieve together are more likely to stay together.

Alex

DigForVictory

Will this big wedding include presents towards a house deposit? As I think Drucifer has a point - house first.

Delighting your family with a big bash is nice, but only if you can afford it. The "It's your day" hype ignores facts like the money involved could pay for your first house, car, nursery kit out.
I was lucky to have a generous family but we didn't get engaged until he could afford my mortgage - which meant we didn't get married for about four years, but then did so with a house to equip &, a year later, a nursery...

Another definite +1 to Alexland - do this with your partner. If you are agreed on targets, you are more likely to achieve them, as well as having the other as a conscience if temptation jumps up & waves.
After all if you both have a sudden yearning for a takeout then neither of you can chide the other if you miss a savings target, but you have two chances of thinking "actually..." & checking what's already in the fridge/freezer.

Charleyalmostking

My F.H doesn't want a joint account, I've asked about this a few times & same answer.

He doesn't really have money goals or says what he wants. It's me who's like
"oh lets start saving for such and such or lets put £3000 away each" etc.

We are starting to meal plan & I create a budget £250 monthly

I tried asking him what type of wedding he wants either big or small or registry office...he said its up to me then tried talking to him and he fell asleep.

eskbanker

Charleyalmostking wrote: »

My F.H doesn't want a joint account, I've asked about this a few times & same answer.

He doesn't really have money goals or says what he wants. It's me who's like
"oh lets start saving for such and such or lets put £3000 away each" etc.

We are starting to meal plan & I create a budget £250 monthly

I tried asking him what type of wedding he wants either big or small or registry office...he said its up to me then tried talking to him and he fell asleep.

I'm sure you're not on here for relationship advice but this guy doesn't exactly sound like a keeper!

Matt002

Sadly I'd agree with eskbanker, from what you have said you guys don't sound like you are on the same page at the moment.

I'd also echo the comments above about making the house a priority.

Charleyalmostking

I've managed to talk to my F.H about the wedding , we've agreed now to go and get married in a registry office .

I did want a big wedding but at the end of the day, as long as i get to be his wife I'm not bothered now as to where . I've come to my senses and I agree that wed be spending loads on other people to party .

The room I want to get married in is
Monday to Friday: £625
Saturday: £740

I'd like to get married on the Saturday as we can have all day & Sunday to celebrate plus I can get the week after booked off .

I just don't see myself getting married on a weekday lol

He's very simple...that's all. As long as I'm happy he's happy

sjp999

He's a bloke, you very easily have finished your closing sentence after the third word

steampowered

The first thing you need to do is research house prices in your area and go on some mortgage calculators.

You need to work out the size of the deposit you are likely to require (usually at least 10% of the property price), and whether your joint incomes will be enough to get a mortgage for the rest.

You can then calculate how long it will take you to save for the deposit. You can then calculate the amount of time spending on a wedding will delay you being able to buy a house. You can then make an informed decision as to how much you can afford to spend on the wedding.

The average deposit for a first time buyer in the UK last year was £25,867, so you have some way to go.

dawyldthing

I'm another for saving for the house first. But the other thing is how long have you been together? As if it's not that long I certainly wouldn't buy a house or get married for a while - takes a long while to really get to know folk