It is wedding season again. It is time to overpay to join union with another. Don’t get me wrong. A wedding is a beautiful thing. However, so many overpay to show love. If you are currently planning your wedding or have planned your wedding, focus on your wedding cost and do not go into debt for your wedding. Please do not do it.
The Wedding Cost
It is no doubt an exciting time in life. Your partner asked and you said yes or vice versa. You are about to make it official, you have a wedding in your future. If you are not simply going to a court house to sign the papers, watch your wedding cost closely.
You will need to plan out how you will pay for things like your wedding venue, flowers, chairs, photographer, food, alcohol and anything else that may pop up. I do not know why, but when “wedding” is attached to any of the above, the prices explodes. You will be charged a premium.
Expectations
To ensure that your wedding cost does not explode, do not make wedding decisions or purchases because it is what is expected or traditionally done. If you do what is expected, you may run yourself into financial trouble.
It is important to understand, for a wedding, everything have a cost. Further, as the guest list grows, so does the cost. As such, it is important to do what is important to you and your partner. Do what you want and what you can afford. Because in the end, you may fulfill everyone’s expectations, but you and your partner will be left with the bill. At times, this could be a very big bill.
One Day
Do not fall into the trap of believing that your wedding day is the most important day of your life. It is a special day, but it is only one day. One day that will cost you thousands or hundreds of thousands of dollars if you do not pay attention. This day may also set you on the trajectory of a divorce as well.
Remember, close to 50% of all marriages end in divorce and the number one cause of divorces tend to grow from financial issues. Starting out your marriage in substantial debt is not a good start. Further, so many couples divorce while haven’t paid off their wedding day debt. This is a cruel situation to be in, divorce and still paying off your wedding.
If your next step after marriage is kids and/or a new home, note that these are also very expensive. The better financial situation you begin your marriage in, the better. Do not ruin your financial life for a wedding.
Control Wedding Cost
To control wedding cost, consider what you could potentially change. Also consider what is right for you and your partner.
- Change the venue. The venue comes with a lot of costs. For example, the venue typically sets the price for a number of different aspects of the wedding. By changing your venue, you can significantly impact the cost associated with your wedding. A golf course on the ocean will have a very different cost profile as compared to a church in a small town.
- Communicate. Communicate not only with your partner but also with your friends and family what your financial boundaries are. This may lower expectations and reality check your friends and family. Be upfront about your expectations of them and what it is that you want for your wedding.
- DIY. There are some things that you can do yourself or have a friend do. For example, taking your engagement photos. This is one task that anyone with a good camera can do. You may also choose to make your own table numbers, for example. There are a myriad of ways for you to get involve and lower the cost of your wedding.
- Change when you will have your wedding. There is a wedding off-season where you may be able to get a discount. Also consider having your wedding on an off-day. You could have your wedding on a Friday or another day during the week because the weekend tends to be significantly more expensive.
Conclusion
In the end, whatever you choose to do on your big day is between you and your partner. Make decisions for your longterm future and if possible, do not go into debt for your wedding. Your financially independent future self will thank you.
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