Financial Tips

Life and Credit : Wedding Planning

Saying "I Don't" To Debt When Planning A Wedding

I often find it interesting how people accumulate the large debts we see at Credit Counselors every day. One of the more common culprits is the high cost of weddings, especially when talking to younger couples and, of course, their parents.

Clients have often said they felt it was the one area where they could justify going into debt. After all, this is the one day they will remember for the rest of their lives; and they want it to be perfect.

For many newlyweds, remembering that day won't be a problem especially with all those monthly reminders that appear in the mailbox. However, there are plenty of ways to keep your wedding at a reasonable cost and still have that "day you've always dreamed of."

For starters, many couples spend a fortune on the engagement ring and wedding bands. You may have heard that "you should spend two months' salary on the engagement ring." People never stop to consider that the two-month rule is advertised by the people who sell diamonds. For most people, two or three weeks' salary will buy a nice piece of jewelry. And many couples are opting to buy gems other than diamonds. Also, you may find that a relative has a diamond that is never worn. That relative may be willing to give it to you as a gift.

Other cost-saving tips include:

The wedding gown. Brides spend hundreds of dollars on a gown they will only wear once before boxing it up and putting it in the attic. You could, instead, borrow a gown, check the newspaper personal ads for sales of gowns or rent a gown. Rentals start at about $100.

Invitations. Many couples are printing their own invitations. There are so many computer programs available that all you need do is buy the special stationery, input your information and let the computer do the rest. And, if you are really talented, you could do your own calligraphy invitations. My niece did this, and I have saved that invitation as a keepsake.

Photography. In addition to what they charge to take pictures in the first place, most photographers keep the negative and charge you again for the print. If you don't have a friend or relative with photography experience, hire someone for the formal shots and have friends take the candid reception photos. Or put a disposable camera on each table at the reception and let your guests provide the photography. You'll get great shots and your family and friends will have a lot of fun. Make sure you put a clearly marked basket near the door so people will drop off the camera on the way out.

The reception. Schedule the wedding so that the reception is during the day. People tend to eat and drink less in the afternoon than at night. Also, preparing brunch food is less expensive than preparing dinner.

Entertainment. Disc jockeys are less expensive than live bands and can usually provide a wider variety of music. Another benefit to using an experienced disc jockey is that they've worked at hundreds of weddings. They can serve as "master of ceremonies" by making sure all the customary events happen at the right time.

The best rule of thumb, however, in planning a beautiful wedding within a reasonable budget, is to decide in advance how much you want to spend, and then be disciplined in not going over the budget. Be wary of overly aggressive sales peoples who may try to convince you to splurge, just this once, because it's for your wedding.

Remember, the memories from your wedding should last a lifetime. Make sure all the feelings are positive by not piling up a mountain of debt.