What do to with money you got from your wedding or engagement party?

I understand that now a lot of my friends and family are getting married some earlier than others some way later in life. People are posting on Facebook that they are engaged or have gotten married. So what do you do with the money that you receive as gifts? What steps do you need to follow when it comes to your finances? Can you or will you make a smart decision to invest your money? .
Clear your debt
Even if you’ve managed to stay out of debt for the wedding (by saving, keeping it frugal or asking for financial assistance), chances are- in this day and age- both partners already have some form of debt  (It might be credit card debt, a student loan debt, a repossession of a vehicle, etc.). Experts suggest that the best possible move you can make as you start a life together is to get rid of as much debt as possible. You might have been given some money as part of your wedding, and there is no better way to invest it than shaving off some of the debt.
Use A Term Deposit
If you’ve come into a bit of money from the wedding, it’s the perfect opportunity to set it aside as savings or as an emergency fund. Whatever style of savings- term deposit, shares, high interest savings account- you’ll benefit even further by setting up a regular deposit to augment the initial capital. Use interest on your side, and make the next decades easier by investing some money now.
Think About Retiring
You’ve just started your lives together but it’s not too early to think about how you plan to fund your retirement. It’s easy to get compound interest working in your favour if you invest in super early enough and while it might seem like a far-distant use of your wedding presents, you’ll be grateful you did it a couple of decades down the track.
House Deposit
Probably you’ve already started saving for a house. Most couples I know get married long after they start discussing things like houses and families. Often they’re living together and saving together by the time they get hitched. But the money you receive at a wedding can be a great booster to your house deposit savings. It’s crucial to not jump the gun however; as frustrating as renting or moving back in with the olds can be, it’s far better to have a secured loan that you can afford than to overexpose ourselves for a house.
Treat Yourselves
Chances are you’ve got a long time to save and budget and work, so while all the above options are fantastic, it’s important to remember to allow space in our lives to enjoy ourselves. Maybe it’s a chance to invest in a household item you need, or really want. A beautiful table setting or refined manchester. Or perhaps, it’s money for a holiday before you get down to the task of being a grown up. It’s all about saving sensibly and in a manner that allows us still to enjoy ourselves.