Even if you’ve been dreaming of your big day since childhood, there’s one nightmare you want to avoid. Overspending on your wedding and starting your marriage in debt is a surefire way to stress yourself out, cause tension in your relationship, and lead you into a cycle you will struggle to get out of. While you can and should have the wedding you have always dreamed of, it cannot come at the expense of financial stability.
The good news is that there are ways to spend on a wedding without coming up short on other commitments or ending up in debt. The 4 following strategies will help you save money for your wedding.
1. Take advantage of others’ generosity
Everyone hates the idea of being a charity case, and I wouldn’t advise taking donations when you don’t need them. It feels terrible and can cause ruptures in relationships. However, people are particularly generous when it comes to the wedding day of a loved one, and you shouldn’t feel bad taking advantage of this. Firstly, certain family members will want to pay for parts of the ceremony. Don’t let your pride get in the way of taking their payment for what it is: a gift.
Secondly, make the most of your wedding registry. If you have not yet moved in together, a wedding registry can save you a lot of money on your basic home needs. Wedding registries are not particularly romantic, but they are a whole lot more practical than forcing people to guess what you need. Wait until after your wedding before spending more money on those things you might receive.
2. Take out a wedding loan
It is possible that you have no way of paying for your wedding without accruing some debt. Even if you budget perfectly and put aside extra money, you may well not have enough to cover everything. Most people simply end up maxing out their credit cards or taking from their mortgage.
However, this type of debt comes with high interest rates. Rather think about it proactively and take out a low-risk personal loan. The best wedding loans come with relatively low interest rates. You also don’t need a particularly high credit score, although bad credit will affect your rates.
3. Work overtime
This is not an option for everyone, and some people will hate the thought of this. But many individuals end up working overtime after the wedding in order to pay back the debt they accrued. If you foresee this happening, rather choose to work overtime before the wedding. This way, you are better informed on what you can afford to spend. Plus, you won’t have to spend precious hours away from your new spouse just when you want to see them most.
Some companies also allow you to cash in on unused leave days. If you have enough available for your honeymoon, use the remaining days as an additional way to fund your wedding.
Alternatively, try finding some freelance work that you can do at night or on weekends. If you can write, you can find writing jobs, no matter how much experience you have. If you can code, many startups are looking to hire web developers on contract work. You can do these jobs in your own time and from home.
Freelancing is a great way of making extra income – for many people it is the perfect primary source of income. Spend a few months before your wedding making that extra money and you’ll be set for your special day.