Our Wedding Budget Recap

I finally married the love of my life in July and I’ve been wanting to do this wedding budget recap but I’ve been slacking. So finally, here it is. I first wrote about our runaway wedding budget back in our initial stages of wedding planning almost a year ago. And boy, did that thing run away! We went from an initial (hopeful) estimate of $12k, which we soon realized wasn’t going to be possible for what we wanted. So we adjusted our budget up about $23k. But by the end of it all, we shot through that budget by $10k. I don’t regret any of it, since it was all part of the most amazing experience. We took a year to craft every detail of the wedding to be exactly what we wanted and it turned out even better than anticipated. Here are some quick pictures to give you a feel for the wedding (without revealing any identities – you know, since this is an anonymous blog and all).

Wedding budget - men gray vans

Wedding Chalkboard - Two Families Become One

Wedding Rustic Burlap Cake

Wedding Thumbprint Tree Guestbook Leaf Your Print

Wedding Bridesmaids Different Colored Shoes

But this is a personal finance blog, not a wedding blog, so it’s really all about the numbers. Obviously, this was a huge chunk of money to spend for one day and it absolutely could have come in handy when we purchased our house recently (more on that to come). But if I were to do it again, I wouldn’t have had it any other way. Our wedding was a celebration of our life together.

But for those who are interested, here is the complete breakdown of the numbers. As you’ll see, this total budget includes our Jamaican honeymoon.

Wedding Budgets Results - Expenses\

Changing Your Credit Card Statement Dates

Changing Credit Card Due DateThere are two dates related to credit cards that you have to worry about. These are the statement date and the due date. Did you know that, with most credit card companies, you can change these dates? Depending on your goals and your current financial situation, there could be benefits to having particular dates. Plus, I think there’s a benefit simply to having your bills aligned to make it easy to remember when to pay them.

I have a lot of accounts, so I am always looking for ways to simplify my finances. One thing that I’m doing right now is aligning my credit card statement dates. I care most about the day the statement is generated, as opposed to when the payment is actually do. This is because I prefer to pay off most of any balance on my credit cards before a statement is generated to keep my credit utilization lower.

Unfortunately, some credit card companies won’t let you change your due date, and others make it a hassle. Chase was by far the easiest of my credit cards to change. They allow you to simply change it within their website. When changing your date at Chase, they allow you to change your due date, so you’ll need to look at your recent statement date and corresponding due date and perform a quick calculation if you’re looking to change your statement date rather than your due date.

Online, Citi told me that my card wasn’t eligible to be changed at this time. Not sure what that means or what determines whether I’m eligible. And American Express wants me to call them. I guess I’ll give them a call next.

Typically the changes will take place in a future billing cycle, so it’s not a way for you to delay your current payment if you’re having some cash issues. The process of changing your statement date or due date is meant to help you better time your payments, with many people choosing to sync their due date with their paycheck.

(Photo: Images_Of_Money)

Personal Balance Sheet – April 2013

April was a great month financially since we received most of the cash for selling my websites. That means we were able to pile a chunk of cash onto our various savings goals, which in turn, led me to look at houses more — not that I’m really that much closer to being able to afford one. But it definitely let me to look at how much house we can afford.

I think our balance sheet pretty much speaks for itself at this point, so here it is:

personal balance sheet april 2013

Our net worth is up significantly from a year ago and I’m really looking forward to busting through the $100k mark this year. Our investments were responsible for about $1k in our increased net worth (once you take out our contribution), with the rest mostly coming from the sale of websites (after taxes — which currently show as a liability) and just normal savings from our incomes.

I also removed the $2k travel savings goal from the widget just because that savings was meant for our honeymoon, which has been paid for, but also overlaps with the wedding savings/spending, so it really didn’t make sense to have it sitting on there.

My personal of losing weight also saw good results during April. The good news is that I am down 5 pounds from March 31st (and for the year). The bad news is that I am basically where I was on January 11th. However, I have to keep reminding myself that that’s just the weight. And while my goal is quantified in pounds, its the overall health the truly matters and I look and feel better today than I did on January 11th because I’ve been exercising a significant amount. I exercised a total of sixteen times in April (compared to two in January).