Whether it’s better to receive a fabulous gift from your wedding registry, a check, or cold, hard cash as a wedding gift is still up for debate (and all are very much appreciated!). But the one thing cash comes with that other gifts don't is possibilities. Once your wedding has come and gone, how do you decide what to do with the money you receive as a wedding gift? Our experts have a few tips.
Cash or a check is a great open-ended wedding gift, as it allows the couple to decide how they want to use the money and celebrate the milestone. But choosing what you want to do with the money can be tricky! Thankfully, there are a few cues you can take from your wedding-planning process that will really help.
First, sit down with your partner and figure out your priorities. Have you been planning a once-in-a-lifetime honeymoon that has been stretching your travel budget? Or does your new house need renovating? Maybe you’re saving up for a new car. Outline the things that would really benefit from some extra cash, and decide what tops the list.
Once you have your list of priorities straight, decide how you want to disperse the extra funds. Do you want to put it all toward one project or adventure? Or would you rather split it up and use the money a few different ways? Allocate a little extra toward the top of the list, but consider saving some of the money for those smaller items—or to fund a newlywed date night as you recover from wedding madness!
And, of course, saving it is always an option. If you’ve got a savings account with a great interest rate, stick your cash gifts in there instead of keeping them in your wallet, and watch those gifts keep giving!
See More: 6 Tips for Managing Your Finances as a Newlywed Couple
