It’s been a while since I got married, but my kids will be getting married down the road. Boy, the cost of getting married sure has changed. The average cost of a wedding nowadays is $31,213, according to The Knot’s 2014 Real Weddings Survey. While this is expensive, there are some ways you can reduce the financial stress of paying for a wedding.
Get a Budget Going
When it comes to getting married, don’t just write a big fat check over to your vendors. Sit down and know what you have to spend. Debt is a real thing and you don’t want to take wedding debt lightly. According to The Knot, more than 45% of couples go over their wedding budget. You don’t have to go over your wedding budget. Instead, use tools like a budget calculator and don’t be afraid to get estimates from vendors. One of the number one tips for relieving financial stress is to PLAN!
Take Out a Personal Loan
If you cannot cash flow your wedding, your next best tip would be to take out a personal loan to help pay for the wedding. The idea behind taking out a personal loan would be that you can borrow a LOT for LITTLE. Discover Personal Loans let you borrow up to $30,000 with a flexible repayment timeline, no closing fee or prepayment penalty and a fixed interest rate. I know that having all of this cash upfront can help you make your budget more realistic!
DIY Wedding Décor
If you’re looking to save money for your wedding, think about doing some things yourself. A lot of times, when it comes to weddings, you are paying for the cost of labor. If you can buy the materials yourself and make it yourself, you will save a ton of money. DIY wedding décor is a good place to start.
Reducing the financial stress of paying for a wedding is easier than you thought. What tips do you have for reducing the financial stress of paying for a wedding?
Keep up to date on all the latest Discover news on Discover’s Facebook page.
My views are my own and do not necessarily reflect the views of Discover Products Inc. and its affiliates. This post was sponsored by Discover Card. Rest assured, this Post was written by me and was not edited by the sponsor. Read more on my Disclosure Policy.
Kristen from The Road to Domestication
Great ideas here! Sharing with my friend who is working on her wedding now. I have to say, I do NOT miss wedding planning!
This is good advice for anyone who’s not sure where to begin (with the practicality of the finances). I opted for a very simple wedding which was about the vow and commitment(s) rather than manifesting a fairytale. The arrangements came together quite easily and i’m pleased with how we went about things. Beginning our journey with wedding loan related debt would have been dreadful.
When my hubby and I got married, my MIL made the cake (she’s a professional cake decorator), my sister (an event planner) made the decorations. We got married in my MIL’s backyard (in the middle of a spring woodland dreamscape) and released butterflies. Keeping it simple with only close friends and family, we had the perfect wedding. It was one of the best days of my life.
That’s WAY too much for a wedding! I would definitely caution anyone on taking out a loan to pay for it – in debt isn’t a good way to start!