It should be the happiest day of our lives when we get married. We’re embarking on a life journey with the person who we love and have chosen to live out the rest of our lives together. Only there is the small matter of taking care of the bill first. Yes, weddings are a business and they have to be paid for just like any other kind of event or purchase. Of course you would like to have a great big wedding, who wouldn’t? But our eyes must not be bigger than our stomachs or is rather our heart’s desires not bigger than our wallet. Many people aren’t so fortunate to have a large amount of savings they can both combine as bride and groom to get the wedding they really want. Slowly it dawns in couples that, they might have to settle for something they don’t want to. But, before you throw in the towel, consider the following options.
How big is big?
Be honest for a second, are you aiming too high? Indeed, everyone wants a wedding where it looks truly like a prince and princess are tying the knot, but we live in the real world not fantasy. Think about what happens after the wedding. The house and children are going to be far more expensive than your wedding, so do you really want to set yourself a task of walking uphill just for the sake of one day in the sun? Rather than having a big wedding that you know will be stretching your budget to the limit, consider cutting down the guest numbers to just close friends and family. Inevitably, this will mean changing the venue of the party to something smaller and more intimate. The other costs will come tumbling down and before you know it, cutting down half the number of guests, allows you to cut two-thirds of the overall budget.
Parents could foot it
It’s not uncommon for parents to step up to the plate and help out their daughter or son. In fact parents, both sides could step up to the plate and in some way help financially. However, you need not drag them all the way because you can link arms and pay for it together. Consider wedding loans with a guarantor, which basically means those that take out the loan are not fully culpable if the loan is not being repaid. You can take out a maximum of £10,000 and choose between 12 and 60 months to pay it back. The guarantor is the person or party that will foot the bill in case of the loan not being paid back or missing payment dates due to the party whose name it is in. essentially, the bride and groom pay it back as well as they can and if that’s not good enough, the third party i.e. the guarantor will step in for them.
There are many ways you can cut down your budget and therefore the hole that will be left in your pocket. It’s hard, but cut down the size of the wedding to the absolute necessities and plan for your future. Get parents to become guarantors in case your loan is too much to handle but you will still be able to pay for your wedding.