Let's put this into perspective. Picking what the average minimum payment would be and what a general average percentage rate might be...if you can only afford to pay the minimum on your credit cards it will take you 8 years and cost you an additional $3800 in interest to pay off your $7000. Your 15K wedding is actually a 19K wedding, and that's assuming you don't need to put anything else on the credit cards in the next eight years, like emergency car repairs or a hospital bill. Even if you were able to make payments of $250/month, it's still going to take you over 3 years and around 2250 in interest.
Are you really prepared to start your marriage an additional $7000 grand in debt that will likely loom over you for years? And not paying your student loans isn't an option if you want any sort of job where you have access to personal identifiable information of others, government work, or financial work - defaulting on those loans will haunt you for a good long time.
Do not go into debt for a party. If there's familial pressure then they can either pay for what they want or you can be an adult advocating for your future financial health and stand up to them to explain that you can only do what you can afford. Credit card debt is a slippery slope and interest starts piling up. Start making cuts asap and go hang out on the budget board if you need help figuring out what to cut and how to make your $8000 stretch farther.
I highly recommend NOT putting anything wedding related on a credit card if you can't pay it off immediately. Lines of credit and loans should really not be used for frivolous things like parties.I'm really sorry you've felt pressured by your family to have a wedding you can't afford. This is a good time to take a step back, figure out what you CAN afford and draw the line. I highly doubt your family wants you to go into credit card debt. All you have to say is "I'm sorry, we can't afford (insert thing you think they expect), and we don't go into credit card debt to do it."My guess is that the pressure is mostly because they expect a large amount of people to be invited. If you haven't already sent invitations/save the dates or verbally told these people they're invited, then rethink your guest list. It's probably the biggest way to save money. Good luck!
The bolded is a very important thing to do, not only for your current financial situation, but for your future marriage. You don't want family pressure dictating the way that every major life event will go. Learn now to just say no, like an adult.
There are many ways to cut back on your wedding. If you have your ceremony/reception at a non-meal time you can skip serving a meal, which will drastically help with costs. If you have your ceremony at 2 PM or 8 PM, you can follow it with a light appetizer and dessert reception or just a dessert reception. You can still have dancing and other traditional things, but you will save money not buying each person a full meal.
Also, limit or eliminate alcohol. That too will save you a lot of money.
Ditch favors, limos, super fancy stationary, and other non-essentials. Look into Vistaprint.com for invitations - they have sales and groupons you can use (although not together) frequently.
There are many ways to have a dignified and etiquette approved wedding while sticking to your budget. If it was so important for your family to have this big wedding, then they should be paying for the entire thing. Not forcing you to have a big party they want, but you need to put on a cc. We always advise to never go into debt for a wedding.
There was a bride that posted on here once complaining that the gifts people gave her and her H were not enough to cover their costs for the reception. She thought that the reception would be paid for by her gifts, that was not the case and she was very bitter. Please don't take the mind-set that any gifts given will allow you to pay off your portion of the wedding quickly, you will be sadly disappointed.
Hi all,I started off wanting a simple wedding but due to family pressures and my naiveté about how much weddings actually cost, we are spending much more than I imagined. It will end up being about a $15k wedding in total. We are blessed to get 8k in help from family, but we will realistically end up putting the rest on credit cards. Between that and my student loan debt, I'm starting to feel panicked--how did I get in this situation? Maybe if some guests give checks for gifts we can start to pay off some of the debt.At this point it is what it is. I'm wondering if anyone else has been in this situation and got their finances straightened out after the wedding? I go back and forth between being excited and wishing we would have eloped lol.
You have to figure out where you can cut cost. I save about $400 on only ordering 105 invitations (my wedding party won't be getting formal invitations).
Really a lot of the things you can do yourself
I saved $300 on ordering silk flowers instead of real ones.
I found someone on Etsy to make a replica of a Vera Wang dress for $600 instead of paying $1400 for one dress.
There is a lot you can do to save first I would cut down you guest list
Thank you to those who provided helpful tips for cutting down budget. We are re-examining to see what we can do.I appreciate everyone else's advice that it is not worth going into debt, but I do feel quite judged. I regret posting the initial post. Lesson learned.
I just thought people telling me I was too young to get married (without knowing my age) and to cancel my wedding was harsh.
I disagree about postponing the wedding. It is absolutely possible to have a wedding for $8000. Keep the guest list down, rent a church hall, decorate it with some streamers, have it catered by a local restaurant (NOT a "wedding caterer"), and rent a couple kegs of beer. I think those weddings are really fun, honestly.You also for $8000 could have it in the private room of a restaurant if you keep the guest list really small.
It's SO hard and stressful saving for a wedding - I feel your pain. I'm making my own invitations which will cut $500-600 off our budget. I will also make any other paper products if I decide to do them but I'm thinking programs aren't necessary. Rather than do menus I'm writing ours on a chalkboard that goes with our venue and I'm thinking about reusing décor from the ceremony space in the reception space and returning our centerpieces.
I'm not doing floral centerpieces to save $$, only bouquets and corsages etc. Unfortunately, our food and alcohol cost can't be cut any further and is the majority of the wedding costs. Try to cut on things you don't care about and just have faith you'll get through it!