Planning Your Dream Wedding on a Budget

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Wedding

Wedding

Are you preparing for your wedding but wondering how you’ll pay for it? There are many ways to plan and afford a wedding such as:

  • Keep the change – One way to start saving is by making an ‘old-fashioned’ change jar. Every time you spend money, take the leftover change and put it in a jar.
  • Skip the joe – Instead of grabbing a coffee every morning, take that money for 3 months and set it aside. Saving that $5 five times a week over three months, you will save around $300.
  • A safer I.O.U. – Financing your wedding with a personal loan is a popular and often times overlooked method for affording your dream wedding.

When it comes to the last option, there are many online lenders to choose from. “Personal loans are paid back through monthly installments and usually carry lower interest rates than credit cards or cash advances,” according to TransUnion. There are many of perks to taking a personal loan for your wedding costs, one being you can plan your dream wedding while taking the burden off of close family relatives.

Curious about your options? With no obligation, you can easily compare offers on Bankrate’s Personal Loans page.

Not sure what exactly your budget is or unsure what things cost? There are ways to help calculate your wedding costs to figure out your budget and give you a realistic idea of what things cost in your area. Dream Wedding has a tool for you to fill in details such as contact info, number of guests, and if you’re having a ceremony and/or a reception to give you a proper estimation.

Another important part of budgeting is to talk with anyone who might be helping pay for the wedding to figure out how much money you will have to work with. From here you can make a list of specific wedding must-haves such as the dress of your dreams, a great local dj, or fresh flowers.

You can start making a list of your wedding must-haves in order to save money ahead of time. From here, cross out anything you definitely don’t need. Having a cute barn rustic wedding? Ditch the cost of chair rentals for bales of hay covered with colorful  blankets for the ceremony. Secondly, consider shortening the guest list. Inviting only immediate family and good friends can lower the cost by a lot. Another way to help save money is avoid having an open-bar. Some alternatives to this can be having an alcohol-free wedding, or opting for a cash-bar instead.

To start saving for your wedding, the best time of year really depends on your wedding, however there are, “lower-priced packages in every area of the wedding industry,” according to Brides. “If you can wait until the best weather passes, you might be able to get off-season prices while the weather is still fair,” says Leslie Hunt of Bankrate.

Remember, there are lots of ways to save and budget for a wedding. Take the time to do some research, call around to get quotes, and most importantly, figure out a plan that works best for you and your sweetheart even if that’s waiting an extra year to have your dream wedding.