Friday, May 19, 2017

Funding Your Wedding: Financial Tips You Need

financial wedding
Your wedding day is one of the biggest days of your life. And to make it such a special and memorable day, it often means paying out a small fortune. In fact, the average wedding can now cost a couple a staggering $32,641. And it’s leaving a lot of couples heading into debt as they start their married life. In fact, they often have to pay out for years to cover the costs of their big day. However, a wedding doesn’t have to mean financial crisis. In fact, here are some financial tips you need to fund your wedding.

Make a budget at the beginning

It’s so easy to lose track of your spending when it comes to your wedding. After all, the little things can soon add up. And you can start heading into debt territory if you are not watching what you are spending. In fact, a lot of people are left surprised when they actually sit down and work out how much they have paid out. Therefore, to ensure you don’t get into debt when funding your wedding, you need to have a budget in mind at the start. Work out exactly how much you are going to spend on different aspects of the wedding. For example, you might want to put $1000 away for the dress, while $700 might need to put aside for the car. Having a good idea of how much you are going to spend on each area can stop you overspending.

Time to get a personal loan

A lot of people end up getting into money trouble when it comes to planning their wedding as they don’t have the funds up front. And it can mean they have to make other financial cuts in their life to be able to pay out for the big day. But rather than getting into debt you should look into getting a personal loan. It can help you to pay for the wedding, and then you can just pay a monthly amount to pay back the loan over the years. Just make sure you don’t go too high with the amount, and go for the best interest rate possible. You can look online for the lowest interest rate personal loan to ensure you don’t get into debt. That way, you can pay off the loan without running up debts. 

Ask for help from family and friends

A wedding can be an expensive cost that a young couple just can’t afford. Therefore, one financial tip you need is you should get some help from friends and family. It’s likely that your family will want to make a financial contribution to the big day. And it can save you having to hunt down the dollars for certain aspects of the wedding. Even if they are short on money, they still might offer a family heirloom which could save you money. Your friends can also be a saving grace when it comes to wedding planning. After all, they might know suppliers who will do them favors so you can get a cheap wedding car or food for the big day!

And remember asking for money as a gift for the wedding is not unheard of these days. In fact, it can help you get back on the straight and narrow after the costs of the wedding!

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