You plan to get married in the nearest future and you don’t have a dime to your name yet. Now you’re thinking of how to pay for a wedding without incurring debt? The truth is that there’s never enough time to plan and the earlier you start, the better.
Well, your wedding day is one of the special days of your life which may also be the biggest party you’d ever throw.
As such, we’ll show you how to afford a wedding in healthy ways.
How To Pay For A Wedding?
Thinking of how to pay for a wedding? The first thing you should do when planning a wedding is sitting together with your partner to decide your checklist. Split checklist into the must-haves, fanciful and unnecessary.
The must-haves are things you can’t do without. The fanciful are kinds of stuff that are great to have, but not crucial. The unnecessary are things that you don’t need at all. Doing this will help you understand how much you have on your wedding budget spreadsheet. Then see the steps below that shows you how to pay for a wedding with no money.
1. Monthly savings
It’s a beautiful thing to save money for something else other than a retirement plan. One of the ways to pay for a wedding is through monthly savings. And this depends on the financial strengths of you and your partner.
Get your total wedding budget and split it into the number of months you have left before the wedding. Start saving up per month leading to that day. If it’s not possible to hit your target goal before the wedding, you can extend the time. You may also cut down on the wedding costs.
Just ensure that your goals are realistic.
2. Cut back on expenses
How do people pay for weddings when they can’t give up simple pleasures? If you’re very rich, then you can indulge. But if you’re planning your wedding on a budget, it’s time to cut back on expenses. Little drops of water they say, make mighty oceans.
- Begin with your addictive early morning cappuccino. You can cut that down to twice a week.
- Are you a Netflix regular? You can suspend your account for the period of wedding savings.
- Cancel your gym subscription and start running.
Cutting back on as little as $20 every day can do great things for your cause.
3. Get funds from other people
Traditionally, it is the duty of the bride’s parents to pay for the wedding. But today, couples are either footing their bills or paying a part of it. Getting funds from other people is a great way to save huge, cut down on expenses and have your dream wedding.
The idea is to get the family involved. Draw up your wedding budget and then meeting with the family. Everyone will pledge their contribution to your wedding. At the end of the day, you’d have gotten more than half of the things you need for your wedding. Your family foots the bills.
4. Make some additional cash
If you’ve never made money outside your day job, now is the time. Side jobs depending on how lucrative can foot the bills. And this to a large extent depends on your skillset.
- You can get gigs in your field or take a job in lecturing if you’re very good.
- You can also do other things cab driving, working part-time at a supermarket or doing deliveries.
- In the case where this isn’t feasible, you can opt for selling items you don’t use anymore. This could range from dresses to pieces of jewelry and antique materials to buyers who need them.
5. Use a credit card.
Getting a credit card is perfect if you want to start paying for your wedding essentials in earnest. But remember that you must have set up a wedding fund or account first and then start saving your money. You should only use credit cards on the premise that you will pay in record time, before interests set in.
Be realistic and don’t spend more than you can afford to pay. If there’s no plan on how to pay back the money, then don’t go spending. It’s horrible to start married life on debts because of a one-day wedding.
6. Get a loan
Taking a loan for your wedding isn’t something we will advise. But if you’re funding your wedding solo and there’s nowhere else to turn, a personal loan will be fine. Make this a very small loan that you can pay off in time.
A peer-to-peer money lending firm is sometimes preferable than bank loans, as in this case. This is because interests are generally lower than credit cards most times.
7. Cut little spending habits
There are so many unnecessary things we find ourselves buying that we don’t need. You spend spontaneously and on whims without thinking about it. This is a habit you need to cut back on if you want to be able to pay for your wedding.
- Impulsive shopping once or twice every month should take a break for now.
- Exotic dining every other day, when you could enjoy homemade meals should stop.
- Monthly vacations to see some new place and all that can take back seat for now.
Cutting back on all these impulsive spending habits will help you save.
Tips On How To Afford A Wedding
Learning the hacks on how to afford a wedding helps you get your dream wedding. Below you’ll find a few helpful tips that will come in handy for wedding savings.
- Hold your ceremony at mid-day
Holding your ceremony in the afternoon is a way to save money. You won’t have to serve the guests breakfast and dinner. Just one meal compensates for the morning and evening.
- Choose off-season dates
Getting married in months outside of August, May, June, September, and November will save you tons of cash. You get your best spots and vendors for less.
- Ditch packages
Chances are, after paying for a venue, packages get pitched to you. But as tempting as getting all your stuff in one place is, it’s not always best. There could be hidden costs popping up on you. You can also delegate instead of paying.
- Get friends and family involved
Rather than paying for kinds of stuff like setting-up or delivery, you could get your family to do it.
- Get crafty and creative
Working on a budget gives you the opportunity to leave your personal touch on your wedding. DIY as much as possible, but stick to the things you know how to do perfectly.
How Do People Pay For Weddings?
In this article, we’ve shown you how to pay for a wedding without sinking yourself in debt. From getting a credit card to cutting back on expenses or saving monthly. You’ll find many helpful saving options. And if you’re thinking of just how to afford a wedding, see helpful tips in the post.