Something Borrowed, Something Blue
The average American wedding these days costs a whopping $20,000! Unless you have won the lottery or have been really good about saving money, this price tag is likely going to take a big bite out of your credit cards. Luckily, there are easy ways to cut back on costs without sacrificing your wedding day dreams.
There are a lot of places where you can cut costs without anyone taking notice. Make smart budget cuts where you can so you’ll have more to splurge on the things that are really important to you. These ten cost-cutting ideas can help you save as much as $10,000 on you wedding!
Total savings: Around $10,000!
Stick with the plan
Now that you have reduced the cost of your wedding, you should create a detailed budget so you’ll stay on track. Avoid "budget creep:" if you’re not careful, you may find yourself adding small yet unnecessary costs to your wedding expenses.. Little charges can add up to major budget busters. Use an online budgeting tool (like the one available for free at www.theknot.com) to track your expenses from the ceremony through the honeymoon. If something ends up costing more than you thought, try to negotiate the price or find a way to cut costs somewhere else.
Putting it on plastic
If you are going to charge wedding expenses to your credit cards, there are few things you should do to prepare. First, you might want to open a credit card that has a 0% introductory rate for 6-12 months. Since you know you’ll be carrying a balance for a few months, this 0% rate can reduce your interest costs. Just be sure that you pay your bill on time each month (or your rate will skyrocket) and have a solid plan for paying the debt off before the end of the introductory term. Next, check to see that your credit limits are high enough for the charges you have planned. If your credit card balance goes over 35% of your limit, your credit scores could drop dramatically. You can call your creditors to request a credit limit increase if you think you may need one.
Most people are so preoccupied with planning the wedding that they forget to make a few key preparations before they head off on their honeymoon. Don’t forget to ask the Post Office to hold your mail while you are away; an identity thief could steal your mail if it starts to build up. Send in your bills early, or set up automatic bill payments online for bills that may be due while you are away. Also, make copies of your credit cards, ID cards, and passports to leave with a trusted relative back home. If your wallet is stolen while you are traveling, you’ll need this information to report the crime.
Most importantly: don’t forget to have fun! You only get one wedding (let’s hope!) so make sure that you have a good time. If sticking to an impossibly low budget is making you miserable, it may be worth upping your expenses a bit. Just try to keep your spending under control, and only indulge in things that really matter. Remember: a wedding is about love and commitment, not about gold chivari chairs and five-tier cakes.
A high credit score often equals savings on loans and credit cards.
/life of loan
/life of loan