Wedding Debt: to be honest I think this is madness. I have yet to hear a plausible explanation as to why a couple would wish to start off married life in debt. I have also yet to meet a bride who has a legitimate excuse for her parents taking out a mortgage, or a second mortgage, on their house. It is selfish to ask, even more so if they are retired. Incidentally, has anyone heard of “interest rates”? I am assured they are the same the world over, they accumulate in the same way and you end up paying back more than you initially borrowed.
So, I wish to make a personal plea now – DON’T DO IT! Why burden yourselves, or others? All the sayings, “cut your cloth according to your means”, “learn to live within your means”, “know your limit”, spring to mind.
How to Avoid Wedding Debt:
Here are some ideas for you to consider and discuss with your partner.
– discuss with your partner and parents the type of wedding you would like
– obtain quotes and draw up a rough budget for your wedding, allowing 15% on top
– identify those who are able and willing to contribute to your wedding kitty
– work out how long it will take you to save the money yourselves
– work out what you are prepared to sacrifice to save money, e.g. giving up smoking, cutting down on alcohol consumption, etc.
– are you able to take on a second job short term, or a part time weekend job?
– is there the opportunity for you to work a few hours overtime at your place of work each week?
– discuss with your boss the opportunity for a pay rise, bonus payment, or commission
– what are the opportunities for promotion at work
– consider looking for a more highly paid job, or working towards qualifications, which will allow you to do this
– click on my shoe string budget.
– click on more ideas for a shoe string budget.
– be prepared to make things yourself, e.g. the wedding favours, decorations
– to have the wedding you want be prepared to cut down on the number of guests
Wedding Debt v Dream Wedding:
I am not trying to rain on your parade, or get you to sacrifice having your dream wedding. I am simply suggesting that you are realistic. If you are determined to be the last big spender, then you may have to be prepared to wait a little longer. Alternatively you may:
– have your dream wedding, but postpone your honeymoon
– become a “DIY” expert
– have a small wedding and then when you can afford to do so splurge on a lavish blessing
How to Avoid Your Wedding Debt:
This I cannot condone. However, my husband read a hilarious book called “How Not To Pay Your Debts”. Click here on: http://www.how-not-to-pay-your-debts.com He assures me it is well worth a look should you find yourself in this predicament.
Wishing you a debt free wedding.