Dear Dave,
My wife and I even have three small daughters. Is there a baby step for weddings? We didn’t see one in your plan, but I used to be wondering if it was included in any of the opposite Baby Steps.
Cedric
Dear Cedric,
That’s a very good query. I’m glad you are occupied with the long run and planning accordingly.
I haven’t got a special baby step for weddings. If I did, it could probably come after Baby Step 5, which is about setting aside a university or vocational school fund in your children. Maybe you would consider it Baby Step 5b. Once you retire, save in your education, and make extra home payments, you may start setting aside a bit something for weddings.
Don’t get me mistaken, weddings are special. You should definitely mark such milestones with a celebration. But a marriage is only a one-day event. And to be honest: an excellent education is more essential than a elaborate wedding. This idea may not endear me to some people, nevertheless it is the reality.
Maybe it is the dad in me coming out, but when I had to choose from paying for more education or paying for giant weddings, I’d pay for varsity each time. Furthermore, there is no such thing as a connection between the scale and/or cost of a marriage and the happiness and success of the wedding.
Good luck, Cedric!
–Dave
Dear Dave,
My husband and I even have our emergency fund account at the identical bank as our checking and savings accounts. Do you’re thinking that we must always transfer the emergency fund to a different bank? A friend suggested doing this, nevertheless it wasn’t clear to me why he thought that.
Shari
Dear Shari,
Honestly, if I were you, I would not worry an excessive amount of. The only exception to this could be in case you had loans from the identical bank.
Some business loan documents give banks the precise to withdraw money out of your account to repay the loan without your permission. This isn’t common practice and typically doesn’t occur unless someone gets it Away with a loan in arrears. For example, in case you had a automobile loan with a certain bank, I would not keep a whole lot of money with that bank.
But in your situation, Shari, I feel every part is advantageous.
–Dave
