How to avoid wedding debt in the age of debt
Wedding debt is a reality for many couples, but it is not limited to them.
A recent survey by the financial service provider Trello found that about half of respondents were in debt as of last March.
Here are the 10 ways to avoid marriage debt: 1.
Get married early.
While a $30,000 wedding is not a large amount of money, getting married early is vital to keeping your finances in order and avoiding the financial drag that can come from a long wait for your first big day.
You’ll need to spend a lot of money on your wedding to make it worth it.
A few of the best deals include a pre-wedding hotel stay, a free day at the beach, and an optional private reception.
This may sound obvious, but getting involved with a local nonprofit can be a great way to help others with a similar situation.
Many churches offer programs for the poor, including free tutoring and mentoring.
It’s also worth giving to your local church to help spread the word.
Pay off debt.
A simple and cheap way to get out of debt is to pay off your student loan debt.
If you have a good credit score, you can defer payment until you graduate and start paying it off with a little extra help from your bank.
Paying off your debt with the help of a good lender can also help keep you from going into default.
Stop living paycheck to paycheck.
It is no secret that the traditional American family budget is a lot smaller than what many millennials are living in.
To keep your finances stable, make sure you cut back on spending in the year you’re married.
Pay your bills on time.
A big part of paying off debt is paying off the bills.
If that’s not happening, you’ll need some extra help to keep your bills down and keep your home up-to-date.
You can find free credit counseling from a local credit counseling agency or online.
Pay a bit of extra to make your wedding more memorable.
While it is a common idea to spend your wedding budget on gifts for your bridesmaids and honeymooners, many couples will find it hard to get to that point.
Some couples also want to get away from the stress of the wedding planning process and get married early, as a way to save money and time for your children.
Here’s how to do that.
Get more of what you want.
This can be an expensive option for some couples.
It may not be as practical as a wedding venue, but there are some great wedding ideas that are more affordable and can help you get a lot more out of your wedding day.
Take a look at the list below to find out which of the most popular ideas will work for you.
Make sure your spouse and children are on time for the wedding.
If the wedding takes place on a weekend, you might need to postpone some of your plans for a few days.
If not, there are plenty of other ways to make sure your family gets to see your wedding.
Learn more about your wedding expenses.
If your budget includes a premarital honeymoon, there is an option to find a honeymoon partner for your wedding that will make the wedding extra special.
This is a great option if you already have some friends who have a similar arrangement.
If a honey-moon partner doesn’t seem like a good option for you, you may have to consider getting someone else.
Some of the options for wedding expenses include renting a hotel, attending a hotel reception, buying an additional room, or buying extra decorations.
Do your research before your wedding planning.
If there are any wedding-related debt items you need to pay, it is wise to research the issue ahead of time.
It can be tempting to start with the most obvious options and work your way to the more esoteric ones, but be careful.
Take your time to research wedding planning before you get married and save yourself some unnecessary stress and debt.
The most important thing to remember when planning a wedding is to make the best possible choices for yourself and your family.