Personal Finance

Finance Your Wedding

 Finance Your Wedding

The average American wedding now costs almost $30,000. If you're planning to get married in the near future, you'll need to budget carefully to get the most for your money. Here are five tips that will help you save money without compromising too much on the happiest day of your life.

1. Decide whether you want to plan the wedding yourself or hire a wedding planner. The DIY option is more economical but, arguably, more stressful, especially if you don't have a lot of free time. If you trust the wedding planner, you can save yourself a lot of hassle in finding a great photographer, caterer, florist, etc.

2. Set a wedding budget and stick to it. It's very easy to get carried away in the excitement of planning your wedding, but it can wreak havoc on a couple's finances. It's important that your wedding is everything you've always dreamed of, but is it worth taking on a large amount of debt?

3. Your budget should include venue rental (ceremony and reception), flowers, catering, attire for the bride and groom (and the wedding party, etc.), rings, beauty treatments, a photographer and a videographer, transportation, stationery,and gifts for bridesmaids and groomsmen.

4. Decide on a venue for the ceremony. Not everyone wants to get married in a church. Churches are usually cheaper than hotels. The most popular ones must be booked months (if not years) in advance.

5. If you're on a tight budget, think about where you can cut costs without giving up too much. Can you make your own invitations, centerpieces and gifts? Do you have a cousin who can do your hair as well as any professional salon? It's time to call in those favors.

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