As wedding season is right around the corner, it’s no wonder a lot of people are starting to brainstorm how exactly they can afford their big day. And if you find yourself in a similar position, then it might be wise to start thinking about a few strategies you can use to save money on your wedding. However, that’s exactly why I’m going to give you a few helpful tips on how to get started. Check them out below:
Come Up With A Budget
If you’re going to be getting married, then coming up with a budget is a must. Not only will this help you gain a better perspective on what you can afford, but you’ll additionally have a better peace of mind going into your special day. Because as noted by The Knot, with the average wedding costing around $35,329, this is a pretty expensive affair and one that you should be well-prepared for.
Sit down with your significant other and make a list of the items that you all will need for your wedding, as well as what your current financial status is for you both. For example, perhaps you have to pay for your student loans and marriage debt, which could be a pretty hefty balance to keep up with. That’s why you need to list everything out to see how your joint financial picture with your significant other will look, as well as how it can be improved. All-in-all, your budget is going to be what separates the financial obligation you’re going to face after you tie the knot, which will be crucial to a successful marriage.
Source The Best Deals Early
Perhaps one of the most important parts of planning for your wedding is knowing how you can score the best deals as early as possible. Not only will this help you save the most in the long run, but you’ll additionally have the comfort in knowing that whatever you’re after, you’ll have in your arsenal. And although you might not consider it a primary source, you’d be surprised at what you might be able to find online.
Depending on your budget, there are numerous outlets you can use to save money on the items you need for your wedding. For example, as noted by Fox Business, the average wedding dress can cost around $1,100, which is a pretty significant figure. However, a company like Azazie is able to offer wedding dresses for a fraction of the cost direct-to-consumer. Try searching around for options like this, as it will help you tremendously in the long run.
Clear Up Any Short-Term Debt
Another important aspect to address is the short term you might still be working down, as well as how you can knock them out. These include things like credit card debt or personal loans, which can add up to quite a bit if you’re not careful. In fact, as noted by NerdWallet, the average credit card debt is around $15,654, which is a significant amount of debt when you consider adding it with your significant others. However, that’s why clearing out any intermediary debt is so crucial.
To begin, add up your short-term debts with your partner, as well as which ones are costing you the most. This basically means the total cost of the debt, which is how much the interest rates and fees are adding up over the long-term. Additionally, as you and your significant other are going to be sharing your finances, it’s important to assess what jointly you can afford. All-in-all, these debts can be quite a bit to manage if you’re not mindful of them, which is why it’s smart to be proactive now.
Consolidate Your Honeymoon
Finally, if you’re planning on having an intimate affair with just your immediate friends and family, then it might not be a bad idea to consolidate your honeymoon and wedding destination into the same event. Think of this as the most extravagant vacation you’ve ever had, because as noted by CreditDonkey, the average honeymoon costs around $4,000 to $5,000, which is quite the pretty penny to spend. And if you’ve been looking to invest most of your money into the honeymoon, then this is the route to go.
Make a list with your partner of what destination you’re trying to head to, as well as what the affordability on that is. Additionally, if you and your partner are looking for a place and truly feel like it’s going to be the best for you both, then try and make that a priority. As your honeymoon is solely about celebrating your newfound marriage, make that your primary goal, with anything else afterward secondary.
What are you most excited about with your upcoming wedding? Comment with your answers below!