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Old 04-15-2018, 01:57 PM   #21
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Ask PenFed if they will make you a loan against the CD. It's sometimes called a "Share Loan". Typically this is an interest only loan using the CD as collateral, with a rate between 1.5% and 3% above the CD rate. So if you borrow 5k for 8 mos at 3% over the CD rate, it would cost you $100 instead of $360 for an early WD penalty. At maturity you repay the loan from the CD proceeds.
Another good idea...Thanks
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Old 04-15-2018, 02:02 PM   #22
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If it were me, I would apply for one of the many zero percent credit cards I get offers for and use that - zero cost and you can pay it off 12-18 months later. While it doesnít necessarily cost anything to sell a stock, you are giving up the opportunity cost. Who knows what the stock will do over the next 12-18 months, but Iíd rather use OPM (other peopleís money) if I can do it for free and stay fully invested. Then sometime when itís a good time before the payment is due on the zero % card, you can sell the stock and hopefully you will have made something.
Terrific idea also. It's always nice to come here and ask financial questions from a sophisticated group like this.
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Old 04-15-2018, 02:10 PM   #23
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I donít know if you have a set date, but the wedding we paid for was the Saturday after Christmas. We got great discounts!
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Old 04-15-2018, 02:13 PM   #24
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I donít know if you have a set date, but the wedding we paid for was the Saturday after Christmas. We got great discounts!
Wow, yeah, I could see that but she is already set on being a June Bride.
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Old 04-15-2018, 02:17 PM   #25
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I always wondered why June is considered so special for weddings.
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Old 04-15-2018, 02:22 PM   #26
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I always wondered why June is considered so special for weddings.
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...the tradition dates back to Roman times when they celebrated the festival of the deity Juno and his wife Jupiter, who was the goddess of marriage and childbirth, on the first day of June. In Victorian times, the tradition is thought to have continued because there were flowers available for wedding dťcor, and the scent of the flowers masked body odor.
https://www.huffingtonpost.com/sandy...b_6752812.html
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Old 04-15-2018, 02:26 PM   #27
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Well, we are transplanted Chicagoans now living in Northwest Indiana. Daughter and future husband are in Chicago but that is out because way to expensive. We are paying so we are having it down here. Lots of real nice venues out this way for half the price. Anyway from soup to nuts we are in the neighborhood of 25k. Of course that is including a wedding shower, the reception, and other odds and ends. The guest list is about 275. So not so bad...I guess.


Wow! You're saving big bucks! We live in CA and our daughter's wedding w 130 people cost $25k in 2014 and that included her DIY ways to lower the cost. We chipped in about 8k. We paid for her 5 yr college degree and she was a full time nurse making 100k after college so there's that! We have family near South Bend IN and have been to many awesome weddings there! The Midwest is so much less money for food at restaurants (exc Chicago). Enjoy the big day! Our daughter's day was so beautiful and it was a magical time for all involved!
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Old 04-15-2018, 04:37 PM   #28
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Wow! You're saving big bucks! We live in CA and our daughter's wedding w 130 people cost $25k in 2014 and that included her DIY ways to lower the cost. We chipped in about 8k. We paid for her 5 yr college degree and she was a full time nurse making 100k after college so there's that! We have family near South Bend IN and have been to many awesome weddings there! The Midwest is so much less money for food at restaurants (exc Chicago). Enjoy the big day! Our daughter's day was so beautiful and it was a magical time for all involved!
Thanks, Travelfreek. We do what we can. I paid for some of her college and I guess traditionally it's on the Bride's Father to pick up the tab. But we are making it work and with my wife's taste and hers it is going to be very nice but not over the top. Like others here we believe in value and getting your bucks worth. We saved and invested well. So now it's time to enjoy with family. We have decided to enjoy our money more on experiences and I guess this will be one well worth it.
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Old 04-15-2018, 04:58 PM   #29
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Tell them to elope and give them the money you would spend on the wedding as a down payment for a house?

I eloped and am the only child out of 4 that is still married to the same man. lol
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Old 04-15-2018, 05:13 PM   #30
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I find it hard to wrap my mind around the amount of $ some people spend on a wedding. We give each of the kids a set amount and they can decide what to do.
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Old 04-15-2018, 05:22 PM   #31
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I find it hard to wrap my mind around the amount of $ some people spend on a wedding. We give each of the kids a set amount and they can decide what to do.
I guess it depends on what one sees as important to them. For me, I am amazed at how much people spend on vacations where travel costs many thousands. I guess it's all about the "experience factor" for each individual.

A nice wedding with lots of family and friends in attendance can be a great experience. A trip to a far away place to fill an album full of photos can be a great experience for some also.
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Old 04-15-2018, 05:23 PM   #32
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A wedding is 1 day. A vacation lasts longer)
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Old 04-15-2018, 07:43 PM   #33
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A wedding is 1 day. A vacation lasts longer)
Our DD's wedding next Saturday starts with family arriving Monday through Friday from NY, NC, MO, WI, CA, CT, GA, and parts of TX. There will be family dinners, a rehearsal dinner, other visits and lots of other meet ups and fun.

While the wedding itself, will be Saturday, we will be having fun and spending time with family we have not seen in many years. It's kind of a vacation for the family and probably a whole lot less aggravation than flying to Europe to look at old stuff (which many of us already have experienced).

Maybe your wedding experiences were just a one day things, but that not the case for others.
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Old 04-16-2018, 03:39 PM   #34
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I don't spend 25k on one vacation either. When I got married to my current husband in 2003 we did it a few days after xmas because that was the best time for everyone to fly in. It also lasted a week because kids were home from college and friends had the time off, etc. I cooked the rehearsal dinner, we invited 60 people for the wedding and meal, rented a hall for the reception and the whole thing cost 2500. Then my son got married in 2009 and they wanted to be married outside. They got married in a beautiful park, the park provided chairs, etc and the reception was at my house for 40 people. We rented a tent, table, china, etc and had the food catered. The total bill including the wedding dress was 3k. Now I don't care what people spend their $ on but it seems like such a waste to me when you can have a nice wedding much cheaper. As much as I love to travel I also would not spend that amount of $ on 1 vacation. I do many for that cost. All of my friends are educated professionals too and no one spends that amount of $ when their kids get married nor do their kids expect them too. So I find it hard to wrap my head around the idea when I read this stuff on the forums.
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Old 04-16-2018, 04:02 PM   #35
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I don't spend 25k on one vacation either. When I got married to my current husband in 2003 we did it a few days after xmas because that was the best time for everyone to fly in. It also lasted a week because kids were home from college and friends had the time off, etc. I cooked the rehearsal dinner, we invited 60 people for the wedding and meal, rented a hall for the reception and the whole thing cost 2500. Then my son got married in 2009 and they wanted to be married outside. They got married in a beautiful park, the park provided chairs, etc and the reception was at my house for 40 people. We rented a tent, table, china, etc and had the food catered. The total bill including the wedding dress was 3k. Now I don't care what people spend their $ on but it seems like such a waste to me when you can have a nice wedding much cheaper. As much as I love to travel I also would not spend that amount of $ on 1 vacation. I do many for that cost. All of my friends are educated professionals too and no one spends that amount of $ when their kids get married nor do their kids expect them too. So I find it hard to wrap my head around the idea when I read this stuff on the forums.
I'm not defending extravagant weddings, just stating they can cost more than a very basic one.

Our DD's wedding won't cost anywhere near $25K and we are having it indoors with a Texas BBQ catering service, paid bartender (wine and beer only) and DJ. My SIL's husband (lay minister) will perform the ceremony. There will be 100+ friends and family. It's a once in a lifetime event for her (we hope). But I do agree that subsequent marriages are generally less expensive and should be.

I am funding DD's honeymoon in Maui for a week with 300,000 of my Marriott points for the week's stay at a resort hotel on the beach and two free airline tickets on United from my points balance accumulated over my working years. She's picking up the rental car and her wedding fund donations will pay for their activities.

BTW, DD already owns her 2,000 square foot house free and clear, has no college debt (all her doing) and has a good job.
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Old 04-16-2018, 04:11 PM   #36
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Different Strokes for different folks..

The wedding our daughter had (cost us $8k toward the $25k total) was AMAZING! In addition to our 8k spend directly on her wedding, we spent about $500 on a wedding shower, plus another $5k on airlines, and house rental VRBO near the venue in La Jolla, CA, our clothes and food, car rental, etc. during our 5 day stay surrounding the wedding (9 hours south drive from our home or 1 1/2 hour flight). We had some midwest family come in (flower girl and her family) and my super close family and close friends. The venue was limited to 130 so, unfortunately, many relatives could not be invited. Our daughter and her husband had a lot of friends of their own in addition to our son-in-law having a very large family (20 first cousins where our daughter had 1 first cousin and 1 brother). Anyway, what a fantastic time we had! We have amazing pictures and videos and memories of the great experience. I wouldn't change a single thing. We do have a lot of neighbors who fly to Europe several times a year for big vacations and cruises. I wouldn't trade this jewel for any of those trips, personally. It's really personal, though, for people's priorities. $25k is a good amount of money but it's all about priorities. Some people prefer tent camping and others prefer Beach resort vacations. We had a nice wedding 33 years ago that cost about $7k (most of that borrowed by us with a personal loan from CU..husband in engineering school at the time..I was working). That was important to us at the time and we don't regret it at all.
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Old 04-16-2018, 04:16 PM   #37
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The wedding our daughter had (cost us $8k toward the $25k total) was AMAZING! In addition to our 8k spend directly on her wedding, we spent about $500 on a wedding shower, plus another $5k on airlines, and house rental VRBO near the venue in La Jolla, CA, our clothes and food, car rental, etc. during our 5 day stay surrounding the wedding (9 hours south drive from our home or 1 1/2 hour flight). We had some midwest family come in (flower girl and her family) and my super close family and close friends. The venue was limited to 130 so, unfortunately, many relatives could not be invited. Our daughter and her husband had a lot of friends of their own in addition to our son-in-law having a very large family (20 first cousins where our daughter had 1 first cousin and 1 brother). Anyway, what a fantastic time we had! We have amazing pictures and videos and memories of the great experience. I wouldn't change a single thing. We do have a lot of neighbors who fly to Europe several times a year for big vacations and cruises. I wouldn't trade this jewel for any of those trips, personally. It's really personal, though, for people's priorities. $25k is a good amount of money but it's all about priorities. Some people prefer tent camping and others prefer Beach resort vacations. We had a nice wedding 33 years ago that cost about $7k (most of that borrowed by us with a personal loan from CU..husband in engineering school at the time..I was working). That was important to us at the time and we don't regret it at all.
Fantastic! We hope our DD's wedding this coming weekend will be as successful. Plus, we haven't seen some of the aunts, uncles and cousins in a very long time.
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Old 04-16-2018, 05:01 PM   #38
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Enjoy the event and the family/friends. Your daughter is doing an awesome job with her $. That's great.
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Old 04-17-2018, 04:58 AM   #39
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Weddings only cost what folks feel is either expected (keep up with the Jones), wanted, affordable, or what is viewed as custom that must be followed.

My first marriage was an Italian/Polish blowout with sit down dinner for more people than I can remember, open bar, band, 2 champagne fountains, etc. I really don't remember too much other than being told to immediately greet one of the guests as soon as they arrive. It was one of those important Italian "family" things. The brides parents went into great debt for this. We lasted for a little over 9 years.

I married my present (and last) wife when we were 40 yrs old. No one to pay for the wedding except us on our limited income. She was allowed free use of a banquet room at the top of the city's landmark building where she worked, the wedding cake was made at the bakery of a grocery store, all our friends brought a cover dish to share, one of our friends recorded some music that was played on a "boom box", and I bought a couple of cases of champagne and some flowers to set around the room. My wife looked beautiful in her dress. I wore my suit, and my father was best man. We all had a great time and I still have fond memories more than 30 years later. I don't remember the cost but it must have been around $500. This second time around seems to be working.

Cheers!
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Old 04-17-2018, 08:46 AM   #40
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Tell them to elope and give them the money you would spend on the wedding as a down payment for a house?

I eloped and am the only child out of 4 that is still married to the same man. lol
Funny. My daughter couldn't decide on a date, or how many to invite, or a venue, or a dress, or what kind of food to serve, or how many she wanted in her bridal party......you get the picture. She was driving my wife nuts and I was just waiting on "how much is this going to cost me". She finally came to my wife and I and said they just wanted to go somewhere they have never been, ALONE, and get married. Cost me 8k for 10 days in the Bahamas at an all inclusive. I got away cheap. They did get a nice $$$$ for a wedding present!

Mike
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