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According to a recent survey by The Knot, the average American couple spends $33,900 on their wedding. This is a lot of money. A huge wedding costs. $33,900 could easily cover the down payment of a home for many people.
What’s even worse is that a lot of Americans don’t have this extra money sitting around in their bank account. Instead, they go into debt to pull off their dream wedding. Walking into a new marriage with debt can be a huge burden and source of stress for many couples.
How do you prevent wedding costs from taking a toll on your marriage? Check out this guide to learn how it’s done.
1. Have a Budget Wedding
If you don’t want an expensive wedding to place a burden on your marriage, don’t have an expensive wedding. While you may feel a lot of pressure from friends, family members, and social media to have the “perfect wedding”, remember that a wedding is just one day.
And, throwing a lot of money at a wedding doesn’t automatically make it more special. Sit down with your fiance and have a candid conversation about how much you’re willing to spend.
Keep in mind, you can always go down to the courthouse, sign the wedding papers, and then have a big party when you’re both more financially secure. It’s your wedding and your marriage, so don’t let outside influences pressure you into thinking it needs to be a certain way.
2. Find Ways to Cut Down On Wedding Costs
If you’ve decided that you’d still like to have a wedding but want to keep it low-budget, here are some tips for cutting down on wedding costs:
- Have a destination wedding (fewer people will show up, which means less money you’ll have to spend)
- Set up a buffet instead of catered meals
- Hold an outdoor wedding ceremony or an at-home ceremony
- Cut down on the guest list
- Make your own invitations
- Hire a bartender but stock the bar yourself
- Contact local universities for low-cost musicians, photographers, and entertainment
- Buy dresses on sale and rent tuxedos as a group
Also, ask your close friends and family members to help with the wedding planning so you don’t have to hire a planner.
3. Plan a Post-Wedding Budget
While most couples worry about budgeting for the wedding, very few think about how they’re going to budget their lives after the wedding. If you find yourself in some post-wedding debt, formulate a game plan to get you and your spouse out of debt.
Here are some things you can do:
- Postpone your honeymoon, or do a mini-moon until you have enough money saved again for a real honeymoon
- Send homemade thank-you cards
- Sell your wedding dress
- Publish photos on social media instead of printing them out
- Return unwanted or duplicate gifts for store credit
- Sell used wedding decor online
There are many other simple things you can do to cut down your expenses post-wedding. For example, you can cancel your monthly subscription plans or cook in every night instead of eating out.
Wedding Costs: Time to Act
You shouldn’t let wedding costs burden your marriage, so make sure to put these tips to use. Hopefully, you’ll be able to step into your marriage debt-free and stress-free with these tips.
Or, if you have a bit of debt, you can eliminate it quickly with the above tips. Be sure to check back in with our blog for more wedding-related news and tips.