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How to Pay for Your Dream Wedding

One of the most significant expenses you and your fiancé likely face is planning your wedding. Many couples pay tens of thousands of dollars for the big day. But saving for that cost shouldn’t be stressful since the planning is about celebrating your future together. Whether you want a huge celebration or want your closest friends, it is easy to get the day you have always dreamed of. 

Consider Taking Out a Personal Loan

If you can’t afford your day and don’t want to cut anything out, you might consider taking out a personal loan. It’s a form of easy financing that has become more popular with today’s couples. Many don’t have high-interest rates, and the payments are not tricky. If you don’t want to rack up a huge credit card balance, a personal loan right be the best idea. It’s not hard to find the right one for you, and you can get matched with many options. Remember that it’s best to have a high credit score if you want the best interest rates.

Set Your Budget

It’s a great idea to create a budget as soon as you start the planning process. Try to be flexible since some things might cost more than you had initially planned. Work with your fiancé to create the budget to make sure you’re on the same page about where to save and splurge especially when it comes to going on the honeymoon. Coming up with a guest list is a significant first step since it lets you get an approximate headcount. Organize it by must-haves and maybes – some people call it an A-list and a B-list.

You will likely find that some from the ‘must-have’ list won’t be able to attend. Then you can invite others from the ‘maybe’ list. Once you develop a budget, you can divide that number by the number of months until your desired date. You’ll need to save that amount each month to reach your goal.

Ask Family Members to Chip in

Traditionally, the bride’s family paid for the wedding. But today, that is no longer the norm, and many couples are on their own when it comes to the costs. If some family will cover part of the balance, communicate what that means. See what amount or percentage of the total cost they will cover.

You’ll also want to talk about how you will use the money. For instance, perhaps your family members cover the cost of the reception and expect it to be in a traditional church. But if you were hoping for another venue, it’s essential to let them know ahead of time. If a family or friend offers to provide something, like cake or flowers, ensure they are getting what you want on your big day. The advantage is that everyone will know the budget for that feature. 

Still, not everyone has a family member to cover these costs. Other couples would rather not accept help to avoid awkwardness later. That’s perfectly acceptable today as well. But the goal is to know if you will have these contributions, and if you do, understand how much.

Start Saving as Soon as Possible

Many times, couples have an extended engagement, meaning they don’t need to find the money for a wedding right away. Use your engagement to set aside funds for your wedding so you can limit the amount you have to go into debt. If you don’t think there will be enough time to save, it’s often best to have a more extended engagement so you won’t need to go into debt. Not everyone is excellent at saving money, and it can be tempting to put these funds toward something else. If that is the case, see if you can pay some vendors in monthly installments before the wedding instead.

Cut Back on the Costs

You might create a list of things you must have at the wedding and another for something that would be nice to have but is not necessary. Consider trimming down where you can. For instance, you may choose to use smaller bouquets, ask fewer people to be at the wedding party, or streamline the menu or drinks. Or you might decide to have the wedding outdoors, so you don’t need as many decorations.

Consider working with smaller vendors in the area for needs like chair rentals, catering, or dishes. If you’re creative, look for more ways of reducing costs. For instance, if you like arranging flowers, you might be able to purchase the buds wholesale and put them yourself. At the same time, try not to take on too much at once – remember, you’ll be busy with other tasks in the days leading up to your wedding.


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