Wedding Gift Registries that Save Money
Published Date: 05-08-2008 11:22 PM CT
With the economy limping toward recession, young couples are finding it harder than ever to find their financial footing. Instead of typical gifts like silver and stemware, some registering for everything from the kitchen sink, to the entire house. Alexis Christoforous explains. Jennifer and Steve are making ends meet...but with nothing to spare...Steve says, "Every little bit counts. "They're saving up for a traditional wedding... but their wedding registry is anything but traditional. Instead of signing up for the usual china and crystal, they're registering for a down payment on a house. Jennifer Souza says, "We'd much rather have a bigger place to put all of the many things we have a house is much better than pots and pansthey're doing it through a web site called "My Dream Home Registry." Friends and family contribute to a savings account. The company takes a 9% transaction fee, and then releases the money when the couple is ready to use it. Jennifer and Steve see it as a way out of their tiny rental. Steven says, "Give us something that we actually can use and work toward and want. An actual house." That kind of thinking is changing the whole concept of wedding registries during this economic downturn. Here at Lowe's, couples are signing up for everything from lawn chairs to power tools. More and more couples are registering for basics like paint.. And sinks. They need to build their cabinets before they can fill them. But registering for a dream home does have its drawbacks: that steep nine percent fee.. And no interest on those generous gifts. Good old fashioned cash may be the best present... for a couple starting from scratch. Alexis Christoforous, CBS News, New York
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