Avoid Going Into Debt for Your Wedding, It’s Not Worth It
Weddings are significant and important milestones in every society and culture. However, due to Disney movies and celebrities, society has managed to create some majorly unrealistic expectations when it comes to weddings. Sure, your wedding is that special day where you make a lifelong commitment to your partner, but is it worth going into debt for just that one day? According to reports, the average wedding in the U.S. costs between $25,000 and $30,000. Most of us couldn’t possibly handle this type of expense without taking on some debt. Between the towering cake, multiple courses of food, a good DJ and extravagant floral arrangements, it’s easy to see how it’s possible to go into debt for your wedding.
Why Do People Choose to go into Debt on This Big Day?
People throw a spectacular wedding because they feel they must and/or built expectations in their minds that the day must go perfect regardless of the expense. You’ll have to pay for the basic necessities like food or plenty of chairs for guests, but there’s no need to pay for extravagant things that serve no purpose. This doesn’t mean that you shouldn’t have fun or treat yourself. Instead, you can plan ahead and budget for things that you’ve always considered a must-have at your wedding, like a custom-made gown that you plan on passing down to your daughter one day. You should pick and choose your must-haves and consider if it’s actually worth the expense or you can live without it.
Planning Ahead and Budgeting
If you focus on every little detail and plan ahead, you will save yourself the headaches later. Start off by listing all your expenses in a spreadsheet and keep track of what you’re spending. This will help you keep an eye on the details of your wedding you plan to pay for and the related costs. It can also help you decide where you stand and whether something on your list is out of your budget so then you can change it for a less expensive alternative. Another way to avoid debt is by looking for deals and selecting cost-appropriate items for the wedding.
Good Debt that’s Worth Taking On
Couples should think long-term into their future. Is it really smart to get into debt just for one day of fun with family and friends? The money that you plan on splurging on this ONE special day can be used for other financial needs like buying a house, paying off student loans, replacing cars, setting aside money for retirement, or saving for your children’s college education. If you have the money for it then that’s a different story, but if you don’t, is it really worth it? When you’re getting caught up in unnecessary expenses, put your credit card away and take a moment to step back and think. What is getting married really about? Celebrating your love in the company of your favorite people or fancy embossed place cards? Most of your guests won’t even notice these minor details so it’s not worth going into debt for.