Headache balancing costs to go to a best friend's wedding
Not only congratulatory money, attending a best friend's wedding also entails a series of expenses such as clothes, beauty treatments, travel or accommodation,...
Ms. Nguyen Thu Ha (27 years old, Hanoi) said that some months she receives up to 4 wedding invitations, including two weddings of close friends held in distant provinces. Therefore, Ms. Ha had to set aside a separate expense for attending weddings of friends.
Preliminary calculations of congratulatory money, bus tickets, hotels, clothes and related expenses have reached more than 10 million VND. There were months when I almost couldn't save because the money was all for my friends' weddings," Ms. Ha shared.
According to Ms. Thu Ha, what puts pressure on her is not the lucky money but the total accompanying costs. For close friends' weddings, being present to celebrate together is something that is difficult to refuse.
Similarly, Mr. Tran Minh Quan (27 years old, Hanoi) said that this year a group of university friends successively got married, making the weekend schedule almost full.
There are months when I go to 2-3 weddings in a row. In addition to lucky money, I also have to buy clothes, book hotel rooms, rent a car to travel. I am very happy for my friend but also have to rebalance many other expenses," Mr. Quan said.
According to Mr. Quan, after a few times of running out of money, having a headache because of the wedding expenses of friends, he started to set aside a contingency from the beginning of the year to be more proactive when receiving invitations.
How not to turn a wedding into a financial burden
According to Ms. Nguyen Thi Thanh Hoa - Financial Advisor, FIDT Investment and Asset Management Consulting JSC, many people only start worrying about wedding money when they receive wedding invitations. However, this is a predictable expense, so it needs to be prepared early.
Experts recommend that everyone should develop a financial plan about 3-6 months in advance, proactively allocating a separate budget for wedding expenses to avoid borrowing or affecting other financial goals.
''Besides, instead of waiting for surplus money to save, everyone should form the habit of saving first, spending later by deducting about 5-10% of income immediately upon receiving salary to put into the reserve fund'', Ms. Hoa said.
According to Ms. Thanh Hoa, when there is a clear financial plan, attending a wedding will become a joy and opportunity to connect with friends, instead of pressure due to arising expenses.
Everyone, especially young people, needs to clearly identify their own consumption needs, prioritize essential expenses and avoid running after the psychology of comparison or trend shopping. Reasonable spending control not only helps balance the budget but also creates a foundation for long-term financial stability," a financial expert recommends.
