There are many things in life which you might consider taking out a loan for, but are weddings one of them? According to a recent report in The Telegraph, the average wedding now costs more than $28,000 making it more important than ever that those who are betrothed are up-to-speed when it comes to financial planning – and that could mean loans.
Keep It Small
One of the easiest ways to manage your wedding costs is to keep it small. Of course, all the planning in the world won’t eliminate some of the costs but you can keep things within a reasonable budget if you’re careful.
Opt for a low-key event that makes use of local services rather than travelling further afield to host your big day. If you’re looking for cheap photography for your big day then why not use an independent photographer or a younger individual just beginning to get to grips with the trade? You can still ask to see a portfolio of their work to ensure you’re happy with the quality but you’ll almost certainly save a packet compared to larger photography firms.
Opt For The DIY Approach
For the bride, trips to the makeup artist and hairdressers are two of the biggest costs. You can cut costs here by doing your own hair and makeup or getting a trusted friend to do it for you. Again, independent individuals who offer these services might also be a cheaper option than heading down to the local salon.
The wedding dress may seem like an unavoidable expense but you don’t need to spend a fortune on something you only intend to wear once. Look online for bargains – even sites like eBay stock a fantastic range – or go to outlets, warehouses and even charity shops to see what’s on offer. Failing that, why not buy a normal evening dress in cream or white, or opt for a smart wedding suit instead?
Recoup Costs After The Big Day
Alongside cutting costs in the planning stages, why not recoup some cash after the big day? According to the research published in The Telegraph, 12% admitted to selling items from their gift list to get some cash back and you could do the same. Selling your wedding clothes, tiaras or other items can also prove beneficial and clear up some room in your home too!
Ask For Help
There is nothing wrong with asking for help from time to time and if you’re really struggling to pay for your wedding then cash loans or other financial products could help. You should talk through your options thoroughly with your lender or an independent advisor to make sure you’re getting the right product for your needs but with 21% using credit cards or loans to help with wedding costs and 25% turning to friends and family, you certainly won’t be alone!