They say love doesn’t cost a thing, but an exchange of vows before friends and family certainly does. These days, the average wedding can cost more than $25,000 to plan. From booking the perfect venue and the wedding attire to tiny details like favors and invitations, it can add up – quickly. Some people decide to apply for a wedding or personal loan to pay for their big day and end up paying years later (some couples have even divorced and are still paying for their wedding).
Starting your lives off together with a huge debt between you is a surefire way to put a damper on your marriage and your household budget. So, before you go that route and borrow hundreds of thousands of dollars for a single day, here are some options you might have to afford your wedding.
Instead of going $25,000 or more into debt with a wedding loan you could apply for a personal unsecured loan. These short-term loans will give you up to $1250 which can be used to pay for some of the details on your wedding day. You can borrow the money with low monthly payments and a shorter loan agreement you can get this paid off faster so it’s not lingering over your new lives together.
Create a Budget
You should have a wedding budget prepared so that you can stay within your means. Do some research to get a general idea of how much each element of the wedding will cost. Then determine how much you’re willing to spend based on your income (and any donations you may receive from family). You can use a mobile app to make sure that you stay on target with your budget.
Coupons aren’t just for groceries and they can save you a ton of money. Before going shopping for your wedding check to see if there are coupons you can print out. You may find a discount on wedding cakes, floral arrangements, limo transportation services, and more. The more you save on these bigger expenses, the more you have to spend in other areas.
Shop for Discounts
Again, there are a ton of ways you can save on your wedding day purchases. For example, try shopping for things at a time of year when they’re going to be on sale. Instead of going to a bridal shop for your bridesmaid’s dresses, check out the malls during prom season, you’ll find a ton of dresses on sale that can easily fit the theme of your wedding.
Make Whatever You Can
Not everything about your wedding needs to be expensive and elaborate to make a statement. There are a lot of things you can make that will cut out the cost of professional service providers. For instance, making your own invitations and wedding programs saves you from having to special order them. Another example might include asking family members to make their own dishes and having a potluck reception to get out of paying for a caterer. You can make everything from the bouquets and centerpieces to wedding favors and decorations and save a ton.
Your wedding day is supposed to be special for you, but that doesn’t mean it should bankrupt you before you ever get started in life as newlyweds. Before you opt to apply for a wedding loan to cover the costs, look for efficient ways to reduce the costs of the wedding altogether. Your day will turn out just as sweet. And the happy ending is that the two of you won’t have thousands of dollars to repay.