I have a few dear friends getting married this year and it dawned on me that you might be wondering how to have a beautiful, love-filled event that won’t stress your bank account.
Even if you aren’t “there yet,” I bet you have a Pinterest board a-brewin’ <wink,wink, nudge, nudge> OR, at the very least, it's crossed your mind.
Here are 6 simple ways to financially prep for the BIG DAY.
CREATE A WEDDING SAVINGS ACCOUNT
First, document where your funds will be coming from: current savings, savings you can build over the next few months, family contributions, selling unwanted items you own, etc.
Then, calculate your total available funds. Now you have your approximate budget.
Next, create a wedding savings account, ideally one that will earn you interest over time. You want your wedding funds outside of your normal spending accounts so that you can make sure don’t use any of it “by accident.”
CREATE A SPENDING PLAN
Of course you’ll want to have everything on the big day, but one day is not worth years of financial hardship and frustration. Build a list of everything you want and list each item/service in order of “must have” to “that would be nice.”
Consult with other couples who have recently been married or find a wedding checklist online to make sure you don’t miss anything. Be sure to add a buffer for unforeseen expenses. This is where a lot of couples are caught off guard; they don’t account for things that did not anticipate.
MAKE SOME DECISIONS
Now that you have the amount you can spend and what you want to spend it on. See what items and services will fit into your budget. This is hard, but try not to be attached. Your wedding can still be amazing even if you don’t give a party favor engraved with the date and your initials.
ASK FOR HELP
You might have contacts, friends, and family that know great photographers, own venues, and could potentially help you cut costs with a deal. It never hurts to ask. The worst that can happen is they say no.
STAY AWAY FROM SOMETHING BORROWED
Borrow a handkerchief but not mounds of cash from your credit line. If you can stay away from using credit to pay for your wedding you will enter into marriage with a cleaner financial foundation.
In previous blogs, I have discussed that one of the number one reasons for divorce is disagreements over money and financial strain. Don’t start your partnership off with this pressure.
If you know certain close friends and family that plan on gifting you cash, perhaps ask them to gift to you early and use that money to cover expenses.
REMEMBER WHY YOU ARE GETTING MARRIED
If you just wanted to throw a big party, you could do that at any time, anywhere. It's easy to get caught up in a Pinterest board/Instagram fantasy. However, you are getting married because you found a partner you want to move through life with. Try not to narrow your focus on one day, on one event, but remember that LOVE is what made this all possible.
You can start preparing now for an event like this, so you can stay in wedded bliss rather than be weighed down by debt.
Now I’d love to hear from you:
What wedding planning tips do you have? I am sure our readers would LOVE to know!
Remember, share with abundance and truth. Your sharing may be THE thing that inspires one of the other beautiful souls that read this blog.
Huge thanks for joining me here, sharing YOU and being a Financially Wise Woman. Every interaction makes a difference.
If you know of anyone that can benefit from the tips and tools here, please spread the word...
My love to you and your beau!