Debt Managements

Is planning the “perfect” wedding giving your budget the blues?

Separate your needs from your wants

Weddings can come with a large number of additional costs that you may not have considered, which is why it’s important to separate your needs from your wants before you start spending money. It’s also a great exercise in money management as a couple – if you haven’t started already.

Together, brainstorm a list of everything you would feel at a typical wedding, such as engagement/wedding photos and videographer, paper invitations, renting a limo to take you to the venue, purchasing expensive wedding gifts, etc.

Then, take a look at the list together. If you are indifferent to certain items or prefer not to include them, you can simply eliminate these costs. For example, if you’re serving dessert after dinner at your reception, you might want to skip the three-tier wedding cake — it’s expensive! – in favor of something less expensive and more manageable like homemade cakes or cakes. Or better yet, make cake your only dessert!

Next, identify the things that matter to you and think about how to include them without spending too much money. For example, if you have your heart set on a particular wedding dress designer, keep an eye on sales or look for used options. You may be able to get a great dress for a lot less because it was worn once or because it’s from a previous season.

How the Buy Nothing movement can improve your spending habits

Create a wedding budget that works for you both

Once you create a list of your ideas, you can create a wedding budget that works for both of you. It’s important to set a budget you can afford because you don’t want your marriage to start with a pile of debt. Be realistic about expenses and expectations and think about how you will pay for your wedding. By starting planning early, you also have more time to do so Save up for the big day.

The venue is one of the biggest expenses of a wedding. If you’re willing to think outside the box, you can save a significant amount of money by choosing an unconventional venue or booking for a holiday or off-season. Consider holding your wedding in a park, beach, or even in a family member’s backyard. These types of venues are often much cheaper than traditional wedding venues and can provide a unique and intimate setting for your special day.

Serving food and drinks can add up quickly when planning a wedding. But you don’t have to spend a lot of money to serve delicious food and drinks to your guests. Consider holding a potluck-style reception, where guests bring a dish to share or choose less expensive options from your caterer. You can also opt for a brunch or dessert reception, which tend to be less expensive than a dinner reception.

When it comes to wedding decor, invitations, and other trimmings, DIY is your friend. Or DIY for someone else if they are selling their decor after their wedding. This can be especially helpful if you choose a specific theme for your wedding. Making your own can save you a significant amount of money, and it can also add a personal touch to your special day. If you have a bridal party or other friends and family who want to participate, consider creating your own centerpieces, table settings, and even your own bouquets. You can also design and print your own invitations, which will save you money on expensive invitation packages.

Don’t be afraid to ask for help. If you’re open about your budget and any restrictions surrounding it, friends and family may be willing to help. Ask them if they can offer their wedding skills and services for free as a gift to you.

For example, find out if there are individuals who might want to help with food preparation and cooking, bar service (if applicable), or officiate or even officiate the party. Not only can this save you money, but it can also take the pressure off those who may not be able to afford a financial contribution as a wedding gift. Perhaps, more importantly, it can also bring your loved ones closer together and create a sense of community on your special day.

How to cut expenses when paying off debt


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