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1. Your present goals are mainly self-motivated (e.g., discovering oneself by traveling to several countries in Europe).

2. You are an undergraduate student who does not have an adequate amount of savings. Not to mention, you have to pay your student debts too.

3. You still depend on your parents to cover your monthly bills.

4. You are mortified with the idea of having a someone influence your ability to borrow money. Having a spouse with poor credit score may diminish your chances of getting the best car loan or joint credit card deals.

5. You have pushed the idea of marriage aside to build a career. Furthermore, you believe that attaining success at work will appeal to many potential partners.

6. “No money, no marriage” seems to encapsulate the fact that matrimony requires money, time, and effort. Thanks to the Singaporean wedding industry, couples spend an average cost of S$30,000 on their nuptials.

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7. You cannot afford to face higher insurance premiums. For instance, marrying a partner whose track record with cars is unappealing may negatively influence your car insurance premiums.

8. Your financial resources cannot cover the expenses that come with raising a family. Expectant mothers need to visit the OB/GYNs or gynecologists regularly. As a result, you will have to pay about S$60-75 per visit.

9. Your savings and insurance cannot match the overwhelming hospitalization fees of pregnancy. Can you imagine paying about S$3,000 for a two-day hospitalization in a private room of a private hospital?

10. You and your significant other have differing attitudes and beliefs towards money. Understanding each other’s spending habits and attaining compromise is one thing. But, continuously arguing about money is another.

11. You do not have a clear financial path at the moment. Consider seeking professional help.

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12. You are protecting your properties. Furthermore, you have not figured out how to divide your assets.

Whatever the reason might be, matrimony is a huge decision that you shall make when you are holistically prepared to face the next step. You may not be ready at the moment but, that is alright. No one knows what lies ahead!

Sources: 1, 2, & 3

As the chapter of your singlehood comes to a close, the celebration of your dream matrimony draws near. It does not matter whether you came from a developed country or not! Weddings are deemed to be hefty in all parts of the world. Adding Singapore’s economy into the mix makes it more complicated for your budget.

Let us start with the standard cost of a wedding in Singapore. It is difficult to synthesize information dating back from the previous decades. So, I shall focus on the average costs of the main wedding elements. Said elements include the wedding rings, banquet, documentation, and bridal package. Your union can cost somewhere around S$30,000 to more than S$100,000 depending on how simple or extravagant the celebration is.

THE SHINY RINGS

The roundness of the ring symbolizes infinity – to which there is no beginning or ending. Its eternal nature signifies the pureness of love. Sorry to burst your bubble but, purchasing jewelry does not stop after you find the “perfect” engagement ring.

You still need to search for wedding bands to exchange on your special day. Do not let these simple rings fool you as these costs between S$1,000 to S$3,000 each! Rates can go up depending on the material of the ring and the precious stones encrusted in it.

THE SCRUMPTIOUS BANQUET

A wedding banquet holds a major chunk of your wedding budget. Our “foodie culture” is one of the reasons why it is significant. We can all agree that feasting is one of our favorite pastimes. Thus, more creative menu and fancier venue customization had been available to us.

Generally speaking, a weekday wedding banquet with 300 guests can take you back by S$30,000. Why is this so? You see, the average price per plate is around S$100 for weekday lunches and S$127 for weekend dinners. Further research highlights that local banquets range between S$50 to S$235 per person. Your food expense can go as high as S$70,500 for 300 guests and as low as S$10,000 for 200 guests. The more intimate the banquet is, the more savings you will have. Perhaps the only consolation of having a bigger guest list is the volume of red packets that you will get.

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THE MEMORABLE DOCUMENTATION

Early this year, we welcomed a new member to our family. We exhausted our resources to find the best suppliers that were within the couple’s budget. They ended up with a company that offered a package for videography and photography. In other cases, it is cheaper to look for different photographers and videographers.

Prior research is recommended before signing a contract. You may start with the top results when you Google search: “Wedding Photography Supplier Singapore”. Then, compare the prices with the local suppliers nearby. Expect to spend around S$2,000 to S$4,000 on documenting the momentous occasion.

THE STAR OF THE SHOW

The blushing bride usually steals the show! The last wedding that I attended involved the bride changing into three distinct dresses. Having several gowns tailored to your onetime use is undeniably expensive (and possibly unnecessary). This is why most brides in Singapore prefer the “bridal package”.

A bridal package includes a photo shoot, the hair and makeup, and some rented gowns. This convenient package costs about S$3,000 to S$6,000. The price depends on the range of gowns and the location of the photo shoot. You may opt to have your wedding album taken in premium spots such as the Eiffel Tower or the Sydney Opera House.

Image Credits: pixabay.com

You cannot deny it! A wedding involves an incredibly long list of expenses. Before shelling out a fortune, you must organize your expenses. Budgeting will help you align these expenses with your priorities. Best wishes!

Sources: 1 & 2

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