Here comes the bride! 👰🏻♀️ After that? Here come the bills. 🧾🫣 *laughs in Swarovski crystal shoes*
According to popular wedding website The Knot, the average wedding now costs around $30,000. We know all the hottest brides and grooms ball on a budget, so we've rounded up some tips to make your big day the (budgeted) best! 💒
Here’s Five Fast Facts on how to save and pay for your wedding:
- 💸 Be A Savvy Saver Spouse - To cut down on wedding costs, set the date during an off-peak time of year to save some cash. Weddings in the winter months are usually cheaper than spring and summer, and a Friday night event often costs less than Saturday. If you live in a major city, consider heading out to the 'burbs to tie the knot. Suburban venues can be way more affordable than prime locations downtown.
- ✂️ You're Cut! - In 2022, the average wedding had around 120 guests. Many venues have headcount minimums, meaning you're on the hook for paying for a certain number of guests, even if they don't show. Another way to cut costs is to trim down your guest list. In many cases, cutting out just a few people can save you hundreds of dollars. We know you don't really like your dad's weird cousin, anyway.
- 😵 Expect the Unexpected - Once you set your wedding budget, build in a little wiggle room for unexpected expenses, like delivery fees and tips. Wedding gurus suggest adding at least an extra 10% for surprise costs.
- 💐 Borrowing Bride - If you're really strapped for cash, consider taking out a wedding loan. Similar to a personal loan, a wedding loan is fairly easy to apply for and obtain as long as your credit's in tip top shape. However, as with any loan or credit card, be sure to check the interest rate and be real about your ability to take on more debt.
- ⏳ I'll Do It Later - Another way couples are funding the big day is through "buy now, pay later" solutions. Companies like Afterpay and Affirm allow you to spread the cost of a purchase over time into several payments so it's more manageable. As long as you pay things off on time, buying now and paying later can really help in a pinch. However, just like a wedding loan, don't forget to weigh the pros and cons and make sure the strategy is a good fit for your financial situation.
🔥Bottom line: Wedding planning is stressful AF, especially when it comes to budgeting and payments. The good news is you don't have to hop on all the latest wedding trends or break the bank to make your day super-special. In fact, sticking to a budget and spending smartly lays a great foundation for the rest of your lives together. Oh, and if you need a prenup, we've got you covered in this article.
Do you have a wedding coming up?
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