Today, myTafi.com announced the release of Wedding Wallet, the first financial planning tool targeted specifically for couples to help with their wedding planning.
With the average cost of an American wedding at about $30,000 (source: Bridal Association of America), the cost of a wedding is the biggest one time expenditure most people make in their lives. In a survey conducted by myTafi.com, 75% of respondents felt a compelling need for financial planning to save for their wedding. This reflected both an increased awareness for financial planning during an economic downturn and a heightened awareness around the rising cost of weddings.
There are many resources available that help couples organize their dream wedding, myTafi’s Wedding Wallet will provide wedding budgeting and financial planning help so a dream wedding does not turn into a financial nightmare.
Wedding Wallet assesses the couple’s current and future financial health by automatically pulling the data from their financial institutions and analyzes the affordability of their wedding expenses. It guides couples to create a wedding budget and takes them through the financial planning process. This process helps them adjust their household budget and other financial goals so they can save enough for their wedding. Wedding Wallet also identifies financing options that are within the couples’ means. It lets couples see the overall impact of the wedding on their financial future and provides them the guidance to make a post marriage plan that can bring their financial goals on track.