Your wedding will not only be the greatest day of your life, but it will also be the most expensive party you will ever throw. The average cost of an American wedding is $33,391 and whilst it is easy to say you’ll stick to a budget, you don’t want to be overly frugal as it truly is an event that you’ll remember forever.
From the venue to the catering, to the dress to the evening entertainment, you’ll want everything to be perfect. So, how do you go about getting together the significant amount of money that it’s going to cost to put on such a memorable day?
Here are four ways to afford your dream wedding.
Cut back on your monthly expenses
The first place to start when working out how to afford your dream wedding is to look out how much unnecessary expenditure you pay out every month on luxury items you can sacrifice in order to have that perfect yet expensive wedding cake. The first place to look is at your entertainment costs. The average American forks out $1,345.55 per year on media which is a huge amount when you think about it. By cutting our Spotify, Netflix, Amazon Prime and all your other entertainment luxuries, you could have a lot more money to divert towards the wedding. Likewise, that gym membership. Stop spending the American average of $696 per year on a gym membership and start running on the roads or around parks for free rather than using an expensive treadmill.
Stop your smaller spending habits
Once you’ve got rid of Netflix and Spotify, you can look to your other smaller spending habits for areas in which you can save. How much do you think you spend buying two or three cups of coffee a day out? Or on getting lunch from that sandwich bar just around the corner from your work? All those little expenses add up, so start drinking coffee at home and making your own lunch to help afford that band you really want to play at the evening reception.
Take out a loan
Your wedding is a day that – hopefully – you’ll only ever have once in your life. That means it is worth borrowing money to give yourself a truly brilliant experience. Whilst many couples will pay for various aspects of their wedding using a credit card, it can actually be more beneficial in the long run to take out a loan such as those offered by Bonsai Finance to cover the bigger expenses including the venue or the dress. Just make sure that you will have the means to pay it off once the wedding is over as you don’t want to be beginning life as a married couple with an unmanageable debt over your heads.
Crowdfund your wedding
You’ve probably heard of crowdfunding, but have you ever thought of using it to fund your wedding? Rather than have your invited guests heap upon you a load of kitchen appliances as presents, ask them instead to donate the money they would have spent on a gift towards the cost of your wedding via a crowdfunding site. That way, they know their money is being spent on something that is truly meaningful for you and you won’t be left with 10 identical food blenders and no idea of what to do with them.