5 Areas to Splurge

5 Areas Where You Can Save

Now that you have calculated how much all of your wedding details are going to cost you, it’s time to add this up and check if it fits within your budget.

If not, don’t freak out! That’s very normal. It just means that you need to start prioritising the different elements of your wedding in order to maximise your budget.

Depending on the vision you have in mind for your day, there are going to be some areas you should be spending more money on, whilst cutting back in others.

Musicians & DJs

Ask guests for music requests when they RSVP, and then load it onto your wedding playlist. There are also DJ apps that can work great!

Stationery

There are a wide range of invitation and stationery choices out there, including online printables and digital options!

Favours

Wedding favours are left behind at weddings all the time. Guests are there to celebrate you, so don't stress too much about favours.

Rehearsal Dinners

It’s okay to go without a rehearsal dinner, but please be respectful and let guests attending the rehearsal know this in advance.

Transportation

Plan fancy rides if you can afford it. But borrowing a friend’s nice car or using your personal car is also totally fine.

The Top 5 Guilt Free Wedding Items To Splurge On

While wedding budgets are important to have in order to curb costs, but some things are worth pouring more money into — especially if it means a more enjoyable experience and even better memories.

Reception & Catering

The reception and dinner will set the stage for your wedding. Both play a significant role in creating the atmosphere and ambiance you desire.

Photo & Video

Great photos and videos are one of the best investments for your wedding. They will last a lifetime and become prized keepsakes from your big day.

Wedding Dress

As the biggest focal point, getting something that makes you feel like royalty, and that’s tailored to fit your body perfectly is worth the spend.

Hair & Makeup

You want to look your best, so relax and get your hair and makeup done professionally.

Rings

You will wear this for life! Gold and diamonds increase in value so it's a great investment, too.

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At Watafalls, we are enhancing the employee benefits landscape by expanding on ways to support employers and employees across Canada.

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use funds towards reducing:

Realtor Commission

Legal Services

Home Inspection / Appraisal

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6.44%

2 Year Fixed
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5.44%

3 Year Fixed
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5.19%

5 Year Fixed
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6.25%

5 Year Variable
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The Mortgage Assistance Plan (MAP) is an Opt-in program designed to assist concerned employers looking for ways to support homebuying or homeowning employees with the high cost of borrowing. 

A dedicated specialist has been contracted to provide assistance with the mortgage financing process.  Staff will benefit from closing cost credits,reduced rates various service discounts along with mortgage education and training.

All employees of the company are entitled to the Infinity Program. Benefits include:

  • Cash Rebate
  • Reduced Interest Rate
  • Discounted services
    • Legals
    • Appraisals
    • House Inspections

Your employer may also chose to subsidize your mortgage costs they will reduce your cost of borrowing further by:
1. Buying down your lalready low interest rate; or
2. Gifting a portion of your down payment or
3. Providing additional monthly pre-payment installations to pay your mortgage down faster

First you must opt into this plan by completing a one minute registration. Please check your company email account for an invitation link to the registration page.

The Standard plan is non-taxable.


The subsidized portion from your employer is a taxable benefit which will be calculated and shared with you by your benefits team members prior to disbursement.

The Standard Program Rates are generally discounted a percentage below the banks posted rates.


The subsidized rates are further discounted at a basis points predetermined by your employer.

Quick answer: No.

You are responsible however for any lender costs associated with setting up a mortgage such as:

  • Discharge Fees 
  • Early payout penalities
  • Realtors
  • Appraisal
  • Legal
  • Home inspection and other applicable service fees

Benefits are intended for the direct enjoyment of the employee. You will however be able to rent a portion of your home at which point your mortgage interest becomes tax deductible.

A Cashback is directly tied to the mortgage amount, term and interest rate, which are typically half a percent greater or more than non-cashback rates.

The MAP Cash Rebate is still determined by the mortgage amount however, participants continue to benefit from the discounted rates, no matter the term.

For greater cash in hand, you may opt to select both.

Funds are typically dispersed within 30 days of closing.

The savings and low rate for the Standard program will remain in effect. Any subsidized benefits are effective for the length of your employment. Any portions not covering your  employment tenure must be repaid  on or before your last day of service. Please contact HR to discuss further.

The Mortgage Assistance Plan (MAP) is an Opt-in program designed to assist concerned employers looking for ways to support homebuying or homeowning employees with the high cost of borrowing. 

A dedicated specialist will provide assistance to new and existing with the mortgage financing process.  Staff will benefit from closing cost credits, reduced interest rates and various mortgage financing service discounts along with onsite and/or virtual financial education and training.

All employees will receive access to our Infinity Plan. Perks include:

  • Cash Rebate
  • Reduced Interest Rate
  • Discounted services
    • Legals
    • Appraisals
    • House Inspections
    • And more

You may also chose to reduce your staffs cost of borrowing further by:1. Buying down their already low interest rate; or
2. Gifting a portion of their down payment or
3. Providing additional monthly pre-payment installations help pay their mortgage down faster.

Spending budget is set by you. Should you choose to take advantage of our paid services, please see Subscription Model HERE To get an idea of how much it will cost to buydown an employee rate, please see Rate Buy Down Calculator.

Simple.

1. Click on the Get Started link.

2.Complete the 3 minute registration form.

3. Your account will be set up within hours of submitting your application and a notification email sent to the work address provided.

The Infinity plan is non-tax deductible as the rebates and savings are incurred at our end.

The subsidized portion of  your employee's interest rate or down payment is indeed tax deductible.

NOTE:  Please consult a licensed CPA for full details.

Rates received under the Infinity plan are generally discounted a percentage below the bank's posted rates.

Employers may choose to further discount all or select employees' interest rate or mortgage balance at a basis points predetermined by your benefits team.

NOTE:  The basis points or it's cash equivalent cannot fall below the CRA's precribed rate.  Please consult your company's CPA for more details.

Quick answer: No.

Employees are responsible however for the usual lender costs associated with setting up a mortgage:

  • Discharge Fees 
  • Early payout penalities
  • Lender fees
  • Realtor
  • Appraisal
  • Legals
  • Home inspection and other applicable service fees

A Cashback is directly tied to the mortgage amount, term and interest rate, which are typically half a percent greater or more than non-cashback rates.

The MAP Cash Rebate is still determined by the mortgage amount however, participants continue to benefit from the discounted rates, no matter the term.

For greater cash in hand, you may opt to select both.

Funds are typically dispersed within 30 days of closing.

The savings and low rate for the Infinity plan will remain in effect.

The subsidized benefit is effective for the length of their employment.

If an employee ceases employment with the organization within five years of receiving Mortgage Assistance Perk, you may request that they the entire or partial monetary amount of the subsidy is repaid.

Please contact HR to discuss further.