When dreaming of your perfect wedding, you might think of other weddings you’ve been to, images in your mind when you were a kid, and expectations from your partner, friends, and family. But don’t get too caught up in comparing your wedding to others or your perfect image. Average wedding costs are going up every year. And many couples get themselves into credit card debt to finance their wedding.
Avoiding wedding debt and having a happier marriage
Don’t be one of those couples! You are smarter than that. Studies show that spending less on your wedding actually correlates to reduced risk of divorce. Maybe not getting into a debt trap reduces stress. Possibly the money saved goes to a mortgage and getting out of your tiny apartment or parents homes faster. Or could it be that spending less shows the ability to compromise? Compromise is an essential quality of lasting marriages, and with a smaller budget, you can’t avoid it during your wedding planning.
If you can’t avoid debt, minimize it
But what if you want to get married and you just don’t have any savings? Try to have a smaller more affordable wedding and minimize any debt. Look to take out personal loans instead of credit card debt. Credit cards may seem easy and convenient, but don’t be surprised to see your interest rates jacked up to 30% on you. If you have good credit, you can get personal loans for as little as 8%. Use crowdfunding like Kickstarter or Tilt. I haven’t used Tilt before, but they look like a great choice as they mention they charge no fees for organizing an event.
I hope this post will help some of you keep your wedding costs down, and your marriage more stable.
Let me know in the comments if you like any of the tips, want to know more, or have used any of these tips yourselves.