Avoiding Debt (Wedding)

I can remember planning our wedding, and how some people wanted us to try ‘this’ or ‘that’, which is very expensive. We had agreed that we wouldn’t overspend or get in debt for our wedding. We managed to have a nice, small wedding, and we didn’t get in to debt. Unfortunately, many young people make that mistake: they want a huge and extravagant wedding, and they are willing to spend thousands of dollars for it. I have seen couples, who have spent $10,000+ on a wedding and honeymoon, and start their life together, broke. They can’t afford a house or a decent place to live, and they end up living with the in-laws or their parents. I am going to share some tips to avoid getting into debt for your wedding:

·         Don’t go overboard; what matters is that you have joined together in marriage.

·         You can spend more on the honeymoon, instead of the wedding.

·         You can also save on the wedding and honeymoon, and use it as a down payment for a house or apartment lease.

·         Use the money and gift cards from the wedding, since they aren’t on the budget.

 

 

Here is a helpful article for avoiding debt while paying for a wedding: http://www.utdallas.edu/news/2013/4/26-23411_Financial-Expert-Urges-Wedding-Seasons-Newlyweds-t_article-wide.html

Financial Expert Urges Wedding Season's Newlyweds to Avoid Debt. The University of Texas at Dallas. April 26,2013