wedding/honey moon/house down payment

[disneysteve]

You’re right. Unfortunately life happens all at once.

That’s the truth.

[Magic Johnson]

I don’t know much about time shares, but I don’t think this is a traditional one. My aunt gave us the choice of several destinations (Maui, St Kitts, Orlando, Phoenix) and we chose St Maartens.

[disneysteve]

I don’t know much about time shares, but I don’t think this is a traditional one. My aunt gave us the choice of several destinations (Maui, St Kitts, Orlando, Phoenix) and we chose St Maartens.

Generally you “own” at a home resort and can them trade to stay at one of their other locations. Sometimes there is a trade fee.

In addition to the initial purchase, which can be many thousands of dollars, there is an annual maintenance fee which may be $800 or more and can go up whenever they feel like it.

The biggest problem is your contract has literally zero resale value. You can’t even give them away. There are law firms that do nothing but get people out of their contracts but that process can cost you thousands to get out of it.

With the sole exception of Disney Vacation Club, timeshares should be avoided at all costs. And I don’t think Disney is a good deal either but at least it actually retains resale value.

[james.hendrickson]

Following Disneysteves comments here - yes. It can cost upwards of $10,000 to hire an attorney to get out of a timeshare.

[LivingAlmostLarge]

Good luck! Will $200/month be enough to cover the wedding budget? To me it doesn't sound extravagent. My wedding cost $20 at JOP for immigration reasons, then we got married to the day 1 year later with our friends and family. Why not just do a simple pastor wedding now and 1 years have a party? Would it help if you guys were married now financially? meaning you move in together, save on health insurance, etc. I'm an EXTREMELY practical person. So I got married so my now husband could get a job. Most people are HORRIFIED but realize the practicality of us getting married at the court house solo (we didn't tell anyone but the admin at his office) so it was pretty sad, but at the same time we couldn't stop laughing and being super happy about how we were getting married. We had no money being grad students that we "splurged" and went out to a chinese restaurant with a special 9 pm menu. I think it cost us $20 and we thought we were "blowing" our money.

We got married so that he could get a job without being on a visa. He got a job because of it. So the most practical thing we did worked out. I mean really we waited 5 years to get married for no other reason than we were busy and saving money. Important piece of paper but doesn't mean anything for some people. You can be married less time than people who just live together.

That being said you should probably figure out if it's worth getting married this year and a party next year. Maybe it'll save money

[Magic Johnson]

Good luck! Will $200/month be enough to cover the wedding budget? To me it doesn't sound extravagent. My wedding cost $20 at JOP for immigration reasons, then we got married to the day 1 year later with our friends and family. Why not just do a simple pastor wedding now and 1 years have a party? Would it help if you guys were married now financially? meaning you move in together, save on health insurance, etc. I'm an EXTREMELY practical person. So I got married so my now husband could get a job. Most people are HORRIFIED but realize the practicality of us getting married at the court house solo (we didn't tell anyone but the admin at his office) so it was pretty sad, but at the same time we couldn't stop laughing and being super happy about how we were getting married. We had no money being grad students that we "splurged" and went out to a chinese restaurant with a special 9 pm menu. I think it cost us $20 and we thought we were "blowing" our money.

We got married so that he could get a job without being on a visa. He got a job because of it. So the most practical thing we did worked out. I mean really we waited 5 years to get married for no other reason than we were busy and saving money. Important piece of paper but doesn't mean anything for some people. You can be married less time than people who just live together.

That being said you should probably figure out if it's worth getting married this year and a party next year. Maybe it'll save money

We just met Dec 18, and she wants to wait at least a year after meeting before getting married, and I want to get married in the fall for a very personal reason.

[bjl584]

Looking at your other thread, this $200/month is a combination of wedding/honeymoon/house downpayment.

You do have quite a bit going on at once.

I'll just say good luck with it all, and I'm with the others on the time share thing.

One red flag, you just met your GF on DEC 18, and you're already engaged and planning a wedding?
I'd maybe think about slowing down on that.
I realize that you're going to do what you want, but that is moving a little fast.

[Magic Johnson]

One red flag, you just met your GF on DEC 18, and you're already engaged and planning a wedding?
I'd maybe think about slowing down on that.
I realize that you're going to do what you want, but that is moving a little fast.

Right, that’s why we’re waiting until October 2023 to get married.

[scfr]

Wedding: Your reasons for wanting to spend a little bit on the ceremony are understandable. My only advice is to banish wedding magazines, wedding internet sites, and wedding shows. Don't get sucked in to wanting more. What you have planned now sounds lovely.

Honeymoon: Embrace what can be the most rewarding part of a frugal lifestyle . . . coming up with creative alternatives! It is possible to spend little to no money and feel not at all deprived, all while giving each other the best gift you can which is a step together on the road to financial security. What about a thoughtful staycation? Brainstorm some ideas and then do some advance planning. What about cooking up some great meals ahead of time and freezing them so you don't have to cook during your at-home-honeymoon? And stocking up on your favorite movie DVDs from the library? And researching what free local events are going on in your area? Or plan some hikes to enjoy those gorgeous fall colors? Any national parks or national monuments in your area that you've been wanting to visit? Any special free days at a nearby museum? Or whatever else the 2 of you enjoy doing. You get the idea . . .

As far as international travel, you could plan to take a special trip together for your 10th anniversary and start saving for that once your other financial obligations have been met. It doesn't sound like St Maartens is a bucket list trip for either of you . . . it's just the one of 4 options presented to you that appealed the most. This is your chance to prove to each other that you can think outside the commercial box and create wonderful memories without spending big bucks.

[Magic Johnson]

Wedding: Your reasons for wanting to spend a little bit on the ceremony are understandable. My only advice is to banish wedding magazines, wedding internet sites, and wedding shows. Don't get sucked in to wanting more. What you have planned now sounds lovely.

Honeymoon: Embrace what can be the most rewarding part of a frugal lifestyle . . . coming up with creative alternatives! It is possible to spend little to no money and feel not at all deprived, all while giving each other the best gift you can which is a step together on the road to financial security. What about a thoughtful staycation? Brainstorm some ideas and then do some advance planning. What about cooking up some great meals ahead of time and freezing them so you don't have to cook during your at-home-honeymoon? And stocking up on your favorite movie DVDs from the library? And researching what free local events are going on in your area? Or plan some hikes to enjoy those gorgeous fall colors? Any national parks or national monuments in your area that you've been wanting to visit? Any special free days at a nearby museum? Or whatever else the 2 of you enjoy doing. You get the idea . . .

As far as international travel, you could plan to take a special trip together for your 10th anniversary and start saving for that once your other financial obligations have been met. It doesn't sound like St Maartens is a bucket list trip for either of you . . . it's just the one of 4 options presented to you that appealed the most. This is your chance to prove to each other that you can think outside the commercial box and create wonderful memories without spending big bucks.

My fiancé is way not a wedding magazine/internet site/show type of woman. She can’t stand the idea of planning a big wedding (or reception). But we are thinking of a back yard barbecue for close family and close friends (probably 50 people).

[Fishindude77]

I'd pass on the Caribbean time share trip. Even with free lodging there will be considerable expense, and as you say very early on, you're broke.
Don't get in a big hurry about the house down payment either, you need some savings just for emergency situations.

Get married on the cheap and keep working your plan.

[LivingAlmostLarge]

Okay I am about to say that vacations have a way of blowing up fast. I am about to admit that the $120 timeshare sounds a lot like my cancun timeshare borrow at Thanksgiving of this year. My friend has so many weeks we're going as a group and it's a fantastic deal $1800 for a week for a 2bd timeshare. But the cost of airline tickets and the excursions is going to turn it into a $6k trip I bet. Right now tickets direct are $2k each (i'm going to have to use miles). So it's not exactly a "cheap" vacation like our friends promised.

That being said the same friends we are traveling 3 trips this year and will be spending more more than ever. Our las vegas trip was supposed to be "cheap" has turned more than I thought. Our cruise was $4700 but the excursions are adding up. Funny how vacations explode

[Magic Johnson]

You all are right, of course. We can’t afford the trip to St Maartens.

I have to come up with the intestinal fortitude to talk with my aunt and fiancé about it.

[myrdale]

It has been covered well enough here, but it is worth saying one more time, do not take ownership of the time share. When you say you don't know what type it is, is akin to picking up a snake and saying the same thing. Even if it isn't poisonous, it will still bite!

I don't like the red flags of getting engaged so quickly. Contradictory, I dislike the red flags of waiting so long to get married even more. It seems like you want this long engagement to make sure you both are doing the right thing getting married. You should have made that decision before you asked and she should have decided before saying yes. My personal opinion would be to either get married before the honeymoon, or break the engagement now and date until your certain you want to get married.

And to be clear, if you're not married, it isn't a honeymoon, it's a vacation with your fiance.

Also it's a nice thought that her aunt and uncle are providing this opportunity, but it isn't like they are her parents or yours. Problems come up and plans fall through. Personally I would abandon the trip to the aunt's timeshare completely.

[mumof2]

You have said that you are broke but saving $200 per month, but you aven't said how her finaces are or if she is working or anything...Have a small wedding, do a staycation as a honeymoon and save for a house...I know people say that you are moving fast but at at that age many do...they know what they want and they do it...we know a lot about you but not about her finances...good luck