ARE YOU ABLE TO AFFORD YOUR DREAM WEDDING? For many people, getting married remains a life goal. And if you’re looking for stability and commitment in your life, you might have met the person you want to do it with. There is only one issue: how to pay for it. No one can dispute the fact that even more personal, small weddings can be pricey. So how can you prepare financially for marriage?
CHECK OUT YOUR BUDGET It all begins with figuring out where you can cut costs, which brings us back to your own budget. Map out all of your monthly key outgoings using a budgeting program. After that, consider discretionary spending. What could you put on hold to begin setting aside money for a wedding? Do you have any subscriptions left over that you may cancel? Examine your mandatory bills as well. Is there a method to cut costs by comparing prices on things like utility bills and insurance premiums? Though some short-term modifications might be necessary, keep in mind that the more you can change, the closer you’ll be to reaching your goal.
HAVE A FAIR CONVERSATION Due to the strong emotional connections we make between our income and our self-worth, talking freely about money can occasionally be awkward. However, being married requires you to be able to openly discuss this matter with your spouse. Openly discuss what you both can afford to save, what you both need to save, and any potential help from other family members.
THINK ABOUT YOUR OPTIONS Determine the general costs for the wedding and exactly what type of wedding you both want. Which requirements must be met and which requirements must be sacrificed? For instance, knowing exactly what has to be planned is helpful if you want a destination wedding. This infographic might assist you in comprehending the components that must be planned and paid for in order to successfully host a destination wedding.
Infographic created by AA2