How Much Will a Major Life Event Cost You?

Life is filled with milestones, and each one comes with its own excitement, challenges and financial considerations. Getting married, starting a family and taking care of aging parents may be part of your story, but they come with unexpected costs. To prepare, it's crucial to build a robust savings and emergency fund. Consider utilizing vehicles like money market accounts for accessible funds with competitive interest rates, or CDs for longer-term savings with potentially higher yields, ensuring you have readily available funds for any financial surprises. Start planning and take the reins on these transformative moments!

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Marriage

Money may not be romantic, but it’s a vital part of any wedding day. According to a survey from Zola, the average cost of a wedding in 2025 is $36,000.^† Costs vary depending on the venue, vendors, number of guests and other factors. Even if you have help paying for it, do your research and find out how your dream wedding fits your overall budget.

After saying “I do,” financial goals will be important to your marriage as well. Be open with your partner and work together to determine your ideal roadmap. Simplify your shared finances by opening a joint checking account. And to make it even better, we're offering $250 when you open a new checking account!^{^}

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Childbirth

As if having a child weren’t a big enough change, you’ll have to plan for the bills that come after the fact. While you’re picking out a crib and decorating the nursery, make sure you earmark some portion of savings to cover both medical costs and the day-to-day needs of your newborn: diapers, formula, etc.

Adoption

If you’re looking to adopt, the process could cost tens of thousands of dollars. You may have fees for legal services, home studies, travel and administrative costs, depending on the agency and if you choose to adopt domestically or internationally.

Don’t let the cost discourage you. You do have the option of assistance through grants, loans and employer benefits. Consider what the final cost would be once assistance is factored in and save accordingly.

Caring for Aging Parents

Life expectancy continues to increase, which is exciting news! It does mean that more people are becoming caregivers to elderly parents or relatives. Caring for someone includes physical, moral and financial support. According to SeniorLiving.org, the median annual cost of a private room in a nursing home is over $120,000.^‡

Setting aside funds for a nursing home is one piece of the puzzle. You should also consider long-term care needs as well as managing your loved one’s property and belongings.

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Your Financial Partner for Life

Wherever you are on life’s journey, Vantage Credit Union could help you plan for your needs and goals. Have a one-on-one conversation with a financial coach and feel more confident tackling your challenges.

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^†Source: Zola

^{^}To receive a $250 bonus, open a new Vantage Credit Union (VCU) checking account as the primary owner during the offer dates of October 1 - December 31, 2025 and provide promo code LN132CK. Promo code is required and must be listed on the application to be eligible for this offer. Bonus is subject to IRS reporting and will be deposited into the new checking account by March 31, 2026. Checking account must be open with a balance of zero or more and in good standing without any court orders pending against the account at the time of the bonus deposit in order to receive the bonus. Annual Percentage Yield (APY) rates effective 7/1/2022 and may change at any time before opening an account. Checking account APYs range from 0.00% – 1.25% on balances of $0.01– $5,000 depending on account type and usage, and are accurate as of 10/1/2025. Rates, terms, and fees are subject to change any time after account opening. Fees may reduce earnings. Offer is valid only for new checking accounts. Individuals who are the primary owner on an open VCU checking account or one that has closed within 12 months prior to opening new checking account in conjunction with this offer are not eligible to receive the bonus. Cannot be combined with any other checking account offer. Eligibility for this offer will be verified prior to providing the bonus. One offer per household. No minimum balance on checking account required for bonus.

^‡Source: SeniorLiving.org