The Responsible Registry: Putting Your Wedding Gifts Toward Your Future

Brittany Fisher – Creator and Head Writer at Financiallywell.info

Planning a wedding is a very exciting time, and one of the most exciting aspects is putting together your wedding registry. From stocking your kitchen with expensive cookware to registering for your dream honeymoon, creating the registry gives you yet another reason to look forward to your new life together.

Some couples are conservative with their choices, while others might get a bit extravagant. There is no right or wrong way to set up your wedding registry — it’s all about your specific priorities. Many couples, especially those who have been living together or out on their own for a while, don’t really need household items; instead, they want to focus their registry on building a responsible, reliable financial future. If this sounds like you, or you just want to strike a balance between serious and frivolous gifts, we’ve got four suggestions you can explore.

Start a Savings Account

Registering to pad your savings account is a great way to ask for money without feeling awkward with your guests. Some couples feel a certain air of taboo only registering for money, so if the emphasis is on your savings, the wedding guests feel like they are not only celebrating your love but also contributing to your marriage’s success. The number one cause of fights — and unfortunately divorce — for most couples is financial stress. While you may not want to lead with this stat when you invite your wedding guests to give to your savings account, you can let it be known that their gift will help give your marriage peace of mind for a long time.

Life Insurance as a Gift

Registering for a life insurance policy may not be the most romantic of gifts, but it certainly is one of the most responsible, especially if you plan on starting a family together. Life insurance provides financial security for a lot of situations that can be a major burden on a family. For example, final expense insurance can help your family recover financially after an unexpected death. Do some research to find the right policy for your lifestyle and income level, and then talk with a representative on how to get up your policy as a gift people can contribute toward.

Collect for a Down Payment on a Home

Many responsible couples will set their registry sights on one big-ticket item, like a down payment on a house. Most lenders agree that a 20 percent down payment is your best chance of getting approved for a home loan and getting lower monthly payments. For a home costing $200,000 — the national average for the United States — that means a $40,000 down payment is ideal. For many couples, it may be unrealistic to expect to get the full down payment for a home through cash wedding gifts, but you might be surprised how much more quickly you can get to that number when you have a good chunk already set aside.

Get Debt-Free (or Almost Free)

Nearly two-thirds of all marriages start out with debt. The national average for wedding gift money is around $150, which can quickly add up to help pay down credit cards, pay off cards, or make a real dent in your student loans. Of course, it might feel awkward to talk about debt with your wedding guests; it helps to explain to your guests that their gift will help you and your partner start your marriage off with a clean slate. For the very brave and transparent, you can even make a game of it. Create a chart with all your lenders and the amount of debt and let people drop their gifts in a bucket that goes toward a specific kind of debt. Offer a special prize to the category that gets to $0 debt first by the end of the reception.

Building a registry at Bed, Bath, and Beyond is fun. You can imagine a whole new style with your soon-to-be-spouse. And gifts that prioritize financial stability can also do the same — it’s all about how you present it to your guests and get them interactive and engaged. You’ll be thankful when you are eating off your same old plates in your brand new home.

Thanks for your time,
Brittany Fisher
Creator and Head Writer at Financiallywell.info
brittanyfisher@financiallywell.info

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