Have the wedding of your dreams without it costing you a fortune.
Congratulations on your engagement! Whether you're new to being a fiance or already in the midst of planning your dream wedding, you may be overwhelmed by how much it actually costs to say "I Do." According to TheKnot.com, the average wedding costs over $33,000.00, with the reception venue being the largest expense at an estimated $15,400 for the location.
It's important to talk with your significant other about how you plan to financially prepare and pay for your wedding; the last thing you want to do is accrue a significant amount of debt before walking down the aisle. Here are some great ways to have the wedding of your dreams without it costing you a fortune:
Focus on the details. You know what they say, "the devil is in the details." This couldn't be more true for wedding planning. Be willing to be flexible about certain things that can lower the cost of your big day: choose a date in off-peak wedding months such as January and February, get married on a Friday or Sunday, put a cap on the guest list, and make decorations yourself!
Shop around. You might have your heart set on a certain venue or wedding dress but when you look at the price tag, your heart might start to break. Shop around and get quotes from multiple vendors, DJs, transportation options, etcetera. Make sure you get a list of what is included in their pricing: do the chairs and linens come with the venue fee or is that an additional cost? You want to get the most bang for your buck when it comes to your big day.
Create a plan to pay.You may be considering a variety of ways to pay for your wedding: emergency savings, credit cards, or help from family. Ask some family members to contribute to your wedding instead of buying you a gift! You can also consider taking out a personal wedding loan that can be used to cover almost anything you need for your big day. With this type of loan you will receive a lump sum to pay for things like invitations, wedding rings, the photographer, or reception venue. Not only do you get to decide how to use your funds, you can pay for those items now and repay the loan over time.
