Just Engaged and Proposals

how to pay for a wedding??!! any ideas

Hello everyone

I just got engaged and already stressed out on how we are going to afford to pay for it. I am graduating college in the spring, and my husband to be owns his business with little money coming in. My parents have warned us that we are to pay for everything. With littlte money, how is this possible? Does anyone suggest taking out a small wedding loan (10,000)?

Re: how to pay for a wedding??!! any ideas

  • jagore08jagore08 member
    Seventh Anniversary 5000 Comments 5 Love Its Combo Breaker
    edited December 2012
    I never suggest taking out a loan for a wedding.  My thought is why would you want to start your married life in debt for a party?  Start a savings account and be realistic about what you can afford.  There's nothing saying you have to have a $10,000 wedding.  Visit the budget board to get some ideas on ways to save. 

    A lot of people on these boards pay for thier own weddings.  My DH and I paid for our own.  We started saving specifically for it just before we became engaged.  We saved for a year and a half and covered everything.  It can be done. 
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  • Start saving now!  We started saving before we were officially engaged because we knew we were going to have to pay for everything on our own!  It's possible!  I would not recommend taking out a loan for a wedding - why would you want to start out in debt?  If you have a longer engagement, then so be it! 

    Figure out what it is that you absolutely MUST have, and figure out how much you think a wedding will cost.  Then break it down and see how much you must save to have X amount of dollars by X date! 

    We are having a small DW and having a super casual reception in the backyard when we get home.  I didn't want all the traditional wedding stuff, so that really helped us to cut budget. 

    Congrats and good luck!
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  • Do not take out a loan for your wedding. Is it possible for you to get a part time job?  Also just back on spending money on unnecessary things like going to the movies, out to dinner and resist buying any unnecessary clothing items/makeup/ shoes etc.
     
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  • thejucheideathejucheidea East Nashville, Tennessee member
    Tenth Anniversary 2500 Comments 500 Love Its First Answer
    Loans are a bad, bad idea. Have the party you can afford, and if you have some perfect vision that's going to require more money than you have on hand, postpone the wedding so that you have more time to save.

  • In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_just-engaged-proposals_how-to-pay-for-a-wedding-any-ideas?plckFindPostKey=Cat:Wedding%20BoardsForum:683Discussion:b054b1c1-f1a1-43e4-b40e-46ba2067d865Post:b971d2ad-aade-4c37-95cc-8e20ef60c562">how to pay for a wedding??!! any ideas</a>:
    [QUOTE]Hello everyone I just got engaged and already stressed out on how we are going to afford to pay for it. I am graduating college in the spring, and my husband to be owns his business with little money coming in. My parents have warned us that we are to pay for everything. With littlte money, how is this possible? Does anyone suggest taking out a small wedding loan (10,000)?
    Posted by MeganRusticBarn[/QUOTE]

    <div>Taking out a loan for a party is a bad bad idea! Since you just got engaged decide what kind of wedding you and your FI want and then start saving now. </div><div>
    </div><div>When we got engaged FI and I decided that we wanted a large wedding where we could invite our entire families and all of our friends so that meant we would have a 2-year engagement while we saved. We have since realized that we might not have saved enough money but that just means we're going to cut things like the photobooth, get less expensive invitations, etc., to make up the difference.</div>
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  • Don't take out a loan!! Start saving up and maybe if you want a huge fancy party then put it off for a while till you can afford that. Most engagements are a year or longer.
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  • JoanE2012JoanE2012 Exit 21 (Jersey!) member
    5000 Comments 500 Love Its Fourth Anniversary 5 Answers
    Don't take out a loan, that is a terrible idea.  Instead, save money and have a longer engagement or cut back and have the wedding you can afford.
  • How about having an inexpensive wedding.  My fiance and I can't justify spending all that money on a wedding.  We'd rather save the money to buy a house.  We are going to have a DIY wedding and leave it at that.
  • I'm right there with your girl! thankfully I have alot of friends who are already married and I'm taking advice from all of them. sit down with your FI and figure out all of your current bills and see how you can and where you can put away some money even if its just 25 bucks a paycheck, saving is still saving, did you set a date yet? if not try to put off the selecting of a date for like 3 to 6 months and say to yourself in these coming months I want to save at least and decide on an amount who you want to have saved by then and make that your goal that is what I think I might do I work a full time job, but I also have a little side job so that side job i'm going to throw into savings, and keep my main pay check for all my bills and start to cut back on things  like if you eat out alot, cut back and try to cook at home at least 4 nights a week , bring your lunch to work or school instead of eating out, you'd be suprised how much that can save you.
  • thanks for all the great advice girls!
  • Congratulations!!!!

    I would strongly discourage taking out a wedding loan. Scale back the wedding or push the date out so you can save. Best-case scenario: you take out a loan and then use all your wedding gift money to pay off the loan; worst-case scenario: you take out a loan and divorce within a year and still have to pay off a loan.

    (My first marriage over a decade ago lasted 7 months only and I always said how grateful I was that we had zero debt from the wedding; I had friends who either took out a loan or their parents took out a loan/second mortgage and then they divorced within a year and STILL had to pay off the loan....talk about insult to injury.)

    Good luck and happy planning!!!
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  • edited December 2012
    Agreed on not taking out a loan!  When my sister got married, we weren't in a recession and my family didn't have the debt they do now, so we're also paying.  I have a second job, so I have been trying to cut down on going out to eat and buying unnecessary things so that I can pay bills with my first job and put my second job's paychecks right into a savings.  It seemed daunting at first, but hasn't been too bad!!  I know it doesn't sound ideal (especially since you're just graduating), but a weekend job serving or bartending is a way to make quick money!  It's usually pretty flexible with picking up/covering shifts too.  Again, definitely not IDEAL, but a great way to save!   Laughing
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