Hanging red envelope
On: October 25, 2022

Monetary Wedding Gifts as Practical Gifts are in Trend for this Era! An Era of Practical Gifts!

Monetary Wedding Gift is not new to our ancestors and even to the generations that have gone by. But eventually has come to become popular again for practicality purposes and for convenience too. Monetary Gifts once called Bride Price or Dowry were what was paid to the bride’s family in order to secure the woman (or in many cases girl) for marriage. It was paid for by the groom’s family and typically included land and animals (a practice, by the way, that still exists in many cultures). When a celebration of the wedding happened, guests weren’t expected to show up with anything in hand. After all, the exchange of material goods had already happened. But with this skillful generation, there is nothing in a trend that is not inspired by past generations. In fact, the majority of newly married couples are requesting to receive cash instead of those traditional gifts for one apparent reason. It is practical.

It is an added benefit to newly married couples to receive monetary gifts since there is no limit as to what and how they will spend the cash. Aside from a congratulatory gift, monetary gifting is also to congratulate the couple and to assist them in their journey to start building a family of their own.

Although we are talking about cash and monetary wedding gifts here, we cannot push for an exact figure on how much you can give to the newlyweds, first and foremost the amount may be based on the level of relationship you have with the newly wedded couple. Giving them a certain amount of cash will go a long way for enough to start their new life as a couple. A little reminder though, just make sure you don’t go away with your household budget while giving a gift.

Helpful benefits of Monetary Wedding Gift. We should decide how to deal with a lot of cash after our I do’s.

1. Pay All Highest-Interest Debt First

Watching all that cash pinned to you and your husband on your wedding day is so tempting to spend on all of the honeymoon expenses. Yeah! Surely, but think again. Let practicality run unto your brains and free yourself from all of that debt you made out of your dream wedding. There is a reason why all that cash is overflowing now, so be realistic and pay off all that debt. Sounds boring? Nope, sounds practical and wise. Thank us later!

2. Start an Emergency Fund

Saving that monetary wedding gift for the rainy season is definitely a good idea. Emergency funds are funds that are set aside to cover any unexpected expenses or financial emergencies. Emergency funds can be quite scary but it is a good idea to save for car breaks, doctor’s bills and so on. It is important to save these cash gifts for a solid start in the future.

3. Pay some Bills

Bills are the only list that we cannot outrun. However, we can help ease up the list and slowly enjoy being free financially. Practical gifts such as cash should be spent wisely. In whichever way you think is helpful in how you spend your monetary wedding gift it is rightful to suck up all that unpaid bills whether it’s for car loans, credit cards, student loans etc. just lose that bill on your checklist.

4. Invest in your home

When would you plan to get your own home? Well, as early as after the wedding day will be wise. Investing in a home before having kids will be a good idea so as not to double your bills. Kids are expensive, so choose what to prioritize first. A wedding monetary gift will be a good down payment for a house loan. It is a good remembrance of your wedding day too.

5. Savings for the Future

Retirement might be too early to mention as you guys have just been married for a day. Haha! But to be honest, the earlier you plan for your retirement there is a bigger chance to grow your interest. We cannot fully disclose the figures we are talking about here but let a financial planner guide you through your retirement plan. Saving early for your retirement now will be much easier for you in the future. Whether you will go on a traveling or shopping spree, putting away your monetary wedding gift now will make your dreams become reality.

Now that you are newlyweds, as a couple you should be on the page in planning what to do with your cash gifts. Couples should decide to save for the future, pay all that debt and plan to use the best of their monetary wedding gift. Monetary gifts are the best wedding gift for new couples, cash will always be a good solid start to building a new family. Lucky you if guests can put up a generous amount of cash for you and your spouse. But the important thing is to ensure your financial future will be just as happy as the day you were married.

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