Wedding Day Dollars

Wedding Day Dollars

People choose their wedding dates for different reasons and get choose to have their weddings every month of the year. However, January is the least popular month and October is the most popular month with September and August close behind. As we think about weddings two words come to mind, love and money. Based on statistics, you are going to need a lot of both.

According to recent statistics, the average cost of an American wedding is between $25,000 and $33,000 depending on who you ask. That is one year's salary for many people. Remember, it is the average. Average mean that some cost less and some cost more. Your wedding does not have to cost this much. However, many brides have been dreaming of that day all of their lives and have many fantasies about what the day is going to look like. Fantasies fueled by fairy tales and celebrity weddings. Unfortunately, the fantasies do not include plans to pay for the wedding.

It's so important to plan how to pay for your wedding years ahead of time, if possible, so you do not end up with a boat load of debt before your marriage even gets started. When should you start planning to pay for your wedding? Some suggest five years before your wedding day. Others suggest before that. That might sound ridiculous to some because they had not even met their husband or wife five years before their wedding. However, I think it is almost never too early to start saving.

First, set a realistic budget including reception, engagement ring, wedding dress, and flowers (the most expensive items). Second, divide that amount by the number of months you have until your wedding date (example: $15,000/60 months = $250 per month). Third, open a savings account for your wedding and automatically transfer the calculated amount.

Weddings are supposed to be joyous events with many wonderful and unforgettable memories. Wedding debt can change a wonderful day into a nightmare the next day and for years to come. Debt can wreak havoc on a marriage. To help ensure that your bliss goes beyond the day, don't fail to plan. Save for your big day. Otherwise, you will plan to fail. Click here for a Wedding Budget Calculator. All the best!

Click here to get my free eBook: Money Management 101

 

2 thoughts on “Wedding Day Dollars

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