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Things To Do With the Money You Save

Things To Do With the Money You Save

Budgets for WeddingAccording to a post on Weddingwire.ca the average wedding cost in Canada is roughly $29,450 – which is pretty steep, especially if you’re working with the average millennial budget.

That’s enough to send any frugal bride or groom running from the alter. I mean, really, when you think about it, there are so many better ways to spend your money than by spending it feeding 300 people you might not even know very well.

So what else could you do with all that cash $(26,950.00) if you purchased a Pop Up Wedding for $2500.00 + HST instead? Here’s three of my favourites:

  1. Put a down-payment on a house. Currently in Ontario in order to be approved for a mortgage, you will need at least 5% of the purchase price as a down payment if your purchase price is within $500,000. 27,000 is 5% of 540,000.00.
  2. Sock it away for your children’s education. If you put the 27,000.00 into an RESP for your newborn and contributed $1000.00 annually, you would have roughly 148,000.00 at the time your child entered university.
  3. Put it in an RRSP. If you devided that money up over 5 equal payments of $5,390.00 over 5 years, you would have a whopping 397,000.00 at retirement.

All three are pretty sweet incentives to skip the big wedding in favour of a pop up wedding!

And just for fun, here are two fun bonus things you could do:
– Purchase a nice reliable vehicle.
– Travel. $27,000.00 will have you going places in style.

Call us to find out more about our pop up weddings at 807 631 5162.

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