Thursday, April 1, 2010

Get married without putting parents in debt

A bride’s parents still feel more pressure to foot the bill for their child’s wedding than do a groom's parents, said Bethany and Scott Palmer, authors of “First Comes Love, Then Comes Money,” in the ABC News segment above.

The married couple, who call themselves “The Money Couple,” talked about parents getting on the same page and understanding what a wedding costs, which can vary dramatically by region. There is a $30,000 difference in the price of a wedding in Southern California (which costs more) and Colorado Springs, Colo., for example.

Parents who are footing the bill need to be clear with their children if there are strings attached to the gift, Bethany said. "Talk about it at the front end,” she added.

It’s good for parents to have their children contribute to the wedding even a little bit, the couple said. It will help keep things in perspective when it comes to including, or cutting, luxury items, like a videographer.

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