Cold hard cash is still one of the most popular gifts to give for weddings. And what’s not to like. Cash gives the couple many options and provides a sense of comfort for newlyweds just starting out.
Now assuming you aren’t getting married in Las Vegas, you’ll have a big pile of cash the day after the wedding and you’ll be faced with a question: “What should we do with it?” There are two obvious options: bank it or spend it.
Option 1: Bank It
If you’re conservative, this presents a great opportunity to start a joint savings account or another type of investment. The money could go towards start retirement fund, buying stock, or saving for a down payment on a house. There’s really no going wrong when you’re saving for the future.
Option 2: Spend it
An equal number of other couples will put their wedding cash towards the honeymoon. This is not a bad idea as it allows you to save the cash you would otherwise be spending on dinners, drinks, excursions on your honeymoon. The cash you rake in can also go towards buying gifts that were not purchased off of your wedding registry.
TheManRegistry.com Recommendation: We think the safest bet is doing a little of both. Let’s say you get $2,000 in cash gifts. Why not put half of it in the bank (or other investment) and use the other half as “mad money” for the honeymoon. This gives you the comfort of knowing you’re saving, but also allows you to kick back and enjoy a few extra mojitos on the honeymoon.
TheManRegistry.com is an online resource for grooms and is the internet leader in wedding advice for men. The centerpiece of the website is a specialized wedding registry featuring wedding gifts tailored toward grooms. Included in the thousands of products you’ll find at The Man Registry are barware, electronics, tools, logoed sports items, and groomsmen gifts. The company also recently launched their official blog, GroomsAdvice.com, which gives grooms an outlet to read, share, and laugh at unique wedding experiences.