Q&A Thursday for August 23rd

Q&A Thursday took a break while I was moving and teching for Pinter. But here we are with a few new questions to take a look at.

Let’s go!

Q1. Do we get a virtual tour of your house?

A. Um…probably not. The pictures from earlier were about as much as I want to share right now. Though as we make improvements and I talk about the expenses associated with it I may post some pictures.

Q2. Hey V, What suggestions do you have for a Bride to Be who is marrying someone with a lot of student debt? Should I take it on as my own or let him continue to pay it off slowly? Thx

A. Let him pay it off slowly. Or quickly. In any case if you’re getting married in Washington, no debt acquired before the marriage is considered debt owned by both of you. This is only really important if you get divorced. If you have extra income that you could use to help him pay it down, rather than doing that, offer to pay more of the household bills or be the sole contributor for your emergency fund for a while. You can also gift him an additional payment every year or so. In any case, I wouldn’t directly “take on” his debt by splitting the payments or something, but just factor it in when you figure out your household budget.

Q3. I was looking at rewards credit cards and wanted to know if I should get one with rewards that are travel rewards or one that gives cash back?

A. Do you travel a lot? If so, get one with travel rewards. If not, get a general reward credit card, like a Discover card or a card specific to your bank. This gets a little trickier with annual fees. If you are paying an annual fee that feels reasonable when you see it pop up on your bill and will actually use the card and the rewards, this is a great card to choose. A and I have a Capitol One Venture card with a $59 annual fee, but we used our rewards to reimburse ourselves almost $800 in travel expenses. Totally worth it.

Q4. I really want to have a destination wedding, but I know that this will exclude a lot of my friends and family from the event in addition to being more expensive. Is it worth the expense to have my dream wedding or should I do something closer to home with more people?

A. I have never heard of a larger wedding costing less. It may seem like it will be less because you have unconventional wedding expenses like airfare and hotel stays and rental cars, but think of your destination wedding and your wedding and honeymoon rolled into one. It’s the vacation you’ll take for the year in addition to being your wedding. With that in mind, it shouldn’t be that much more expensive.

But it sounds to me like you might be very disappointed if you don’t have friends and family with you there. Just take a moment and think about what is most important to you in your wedding. What is the image you get that you associate most with this major event and your marriage? If it’s you and your honey in a private ceremony on the beach, then go with the destination wedding, but if it’s you mingling and dancing with rarely-seen relatives and friends, then the closer and larger wedding is your choice.

Got a financial question? Submit it here for it to appear in next week’s Q&A Thursday!

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This entry was posted in credit cards, QA Thursday, Student Loans, weddings. Bookmark the permalink.

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