Wedding Challenge

In your 20s and 30s, weddings seem to pop-up on a non-stop pace. Your friends from high school & college, your cousins and co-works are all starting to walk down the aisle for the first or second time.

Photo Credit: http://www.onscreenweddings.com

Attending weddings is not cheap; especially, if you have to travel to the wedding. The costs of attending a wedding away from your where you live add up: airfare, hotel, rental car, food, booze, gifts etc. The cost only increases if you are a member of the wedding party. Last year, I wrote about Christopher Sledzik, "who racked up $10,000 in debt by attending 12 different weddings and being of 3 different wedding parties over an 18 month period."

10,000 Gs of debt from weddings. That's ridiculous. However, I can see how you can rack up debt by attending weddings. Its difficult to say no to a friend's wedding invitations. Your friends are getting married, your other friends will be there, and it you know its going to be an awesome time.  But I wonder is there a better way to reduce travel costs to weddings?

For this reason, I am coming up with The Wedding Challenge.

The goal of the challenge is to earn enough miles/points to pay for the airfare, hotel nights and a $100 gift for an upcoming wedding. Let's assume the following things:

• Wedding is located on the West Coast i.e. requires air travel

• 3 hotel nights 

• $100 gift - which I feel like is average wedding gift

Like all of my challenges, there are rules:

• No new credit cards ie no points earned from new credit cards can be used

• Can't buy points

• Have to earn the points by end of 2014

• Can use Swagbucks and MyPoints

• Can't just transfer miles from Ultimate Rewards; have to earn them from today on to transfer

Success on this challenge will be achieve by hitting the following milestones:

      1)  25,000 United MileagePlus 

      2)  45,000 Hyatt (Gold Points) - 15,000 a night or $200 worth of Hyatt GCs

      3)  Enough points (most likely from Swagbucks or MyPoints) for a $100 gift card to 

           some department store

My goal of this challenge is to show people that attending a wedding for cheap is possible not that I am cheap. For my friends and family, I would travel the world to celebrate their nuptials. However, the cost of attending weddings is one of the main reasons why people can't attend. 

Do you have a wedding you need to travel to in 2015? Join my Wedding Challeneg to see if you can reduce the cost of attending by earning miles & points.

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Want To Buy An Airline?

Ever want to buy an airline? Would you still buy it if the planes did not come with the deal? Confused?

According to Skift.com, India's Kingfisher Airlines may be up for sale.

Photo Credit: www.fnbpeterstown.com

Kingfisher Airlines is in debt to various banks in the sum of around $1.16 Billion USD. In October 2012, Kingfisher's operation license was suspended Directorate General Of Civil Aviation and has since expire. With the company making no money, the banks that hold the debt are anxious to collect something on the paper that they hold.

According to Skift, the company pledged the Kingfisher brand as collateral for some of their loans and one of the banks is looking to off load the brand.

"The airline gave the “Kingfisher” brand as collateral to bankers. The Kingfisher brand was valued at Rs.3,000 crore (US $501 million) by audit firm Grant Thornton India some five years ago.

The list of trademarks offered include “fly kingfisher” (label), “fly kingfisher”, “flying models”, “fly the good times”, “funliner”, “kingfisher” and “flying bird device”. 

There is a disagreement about who really held/holds the Kingfisher brand trademark.

"On 14 February 2013, United Breweries, the parent company of Kingfisher Airlines, said that it fully owns the Kingfisher brand that is registered by the company under trademark classes pertaining to alcoholic beverages and that this hasn’t been hypothecated or pledged to any lender to secure loans, contradicting the contention of creditors to the airline that’s part of the UB group.

A senior UB Group executive said the beer and airline brands were “different” and they are covered under different categories. “UB Group has not pledged the beer brand for loans to Kingfisher Airlines,” he added."

Why did I say above that you can buy an airline without the planes? Well, the creditors have already starting liquidating those assets.

Therefore, you can buy an airline, but just not the planes.

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Weddings: Just Say No

The Spring time bring warmer weather, but also, the start of the wedding season. In our twenties, weddings seem to happen nonstop. Your close family members, childhood and college friends, and co-workers all seem to be tying the knot. Of course, its never just one a year. They always seem to occur in groups.

Invitations to weddings = money out of your pocket. At the vary least, there is the obligatory gift. However, if you decided to go to the wedding there is the added cost of something to wear, drinks, and gas and that's if you are local. If the wedding is not near where you live, add in the cost of airfare, hotels and meals. The costs start to add up.

American Express conducted a survey of 1,500 adults which determined that the expected cost to attend a wedding in 2013 at $539 after adding in travel, attire and gifts. That's up more than 50% of last year's expected expense of $339. The increase in the amount of spending could be attributed to the approving economy and people's wiliness to spend more to attend a wedding. However, $500 per wedding can add up. 

Melanie Hicken, on CNN Money, wrote an article this week entitled, "My Friend's Weddings Are Putting Me Deep in Debt." The article details, PR Account Executive, Christopher Sledzik, who has racked up $10,000 in debt by attending 12 different weddings and being apart of 3 different wedding parities over an 18 month period. 

"For me, vacation time has been devoted to (weddings) for the past couple of years," said the 27-year-old public relations account executive. "I'm at that age where everybody's getting married, or at least it seems that way."

$10,000 in debt caused by attending weddings. Thats a little ridiculous. He goes on to say that the bill "is now accumulating $130 in interest each month." Assuming he makes the minimum payments, it will take 12+ years to pay off this debit. 12 years of his life chained to debt from attending other people's weddings.

Christopher needs to learn the phrase, "I'm sorry I can't attend." He is $10,000 in debt and what did he get? A few laughs, a rubber chicken dinner and some free booze. If you can't afford to pay to attend a wedding without credit than you probably shouldn't go. The bride and groom won't be upset, because its one less person/couple they have to pay for. No wedding is worth chaining yourself to debt for years to come. 

Here are some simple tips to reduce the costs associated with attending weddings:

1) Obviously, use points and miles to pay for airplane tickets or hotels.

2) Check to see if the "group" hotel is actually the lowest available rate at the hotel, sometimes its not.

3) Find other single people or couples to share hotel rooms or rental cars.

4) Buy gifts online and have them shipped to the Bride or Groom, saving you money on baggage fees.

5) Buy a Tuxedo. Spending $300 or $400 upfront will save you from renting multiple tuxedos later. One
     can always rent vest, cummerbund, or bow ties to match the wedding party, if necessary   

6) Extend the trip by a day or two and make it a vacation

Do you have any tips to save money while traveling to weddings?

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Have a question for us? E-mail us at chris@doitforthepoints.com or jd@doitforthepoints.com