Over here at Dinks Finance HQ, we’ve previously talked about the costs of getting married. It goes without saying that every girl dreams about the perfect wedding.
Unfortunately, studies have shown that a frightening number of couples have gone into debt all because they wanted to throw their dream wedding.
Being an expression of love and a once-in-a-lifetime (usually) affair, it’s easy to see why some folks want to splurge on the one magical day. However, from a financial standpoint, it’s not exactly prudent to get into debt just for a celebration.
Most of the time, your guests won’t remember the wedding and will usually have nothing but bad things to say about it. After the big day, couples would be left with a staggering amount of debt to repay just as they’re about to start a new life together.
Unless you’ve got some serious cash saved up in the bank, chances are you’re better off hosting a simpler, more meaningful wedding with the ones that actually matter.
It may seem insane to some, but when examined objectively, going into debt just to get married is one of the biggest mistakes that one could make. While we’re not against the idea of holy matrimony, we are against irresponsible financial planning.
So, if you’d still like to host that dream wedding but don’t want to break the bank, here’s a list of tips for hosting a wedding prudently.
1. Trim out the guest list
Weddings are a celebration of a couple’s love and while you may be tempted to include everyone you know; you’d be better served keeping the guest list small.
Each additional guest you invite is an extra expense that adds up over time. Don’t feel obligated to invite people just because you have to. Your wedding should be an intimate affair involving those who mean the most to you.
Apply the 20/20 rule and whittle down your initial guest list by 20% then re-reviewing it and reducing it by a further 20%. At the end of the day, you’ll be spending less on food and spending more time with friends and family.
2. Forget the gifts, get help instead
When my friend Jamie got married, he received a deluge of nice yet rather useless wedding gifts.
Who on earth needs to use 5 coffee makers and 3 rice cookers (his wife is from Malaysia)?
Instead of accepting gifts, why not ask for help from your friends instead. Forget hiring a band, why not get some friends and family with musical talent to provide the entertainment for the evening?
Your cousin has a side hustle taking photographs? Why not get him to lend a hand and save some money on the wedding.
When everything adds up, you’ll find that you’ve saved up quite a fair amount on additional services.
Of course, you shouldn’t cheap out when it comes to saying thank you. Organize a get together after the wedding with those who’ve lent a hand or offer your own services at their own weddings.
3. Pick a simple venue
Whether you’re renting out a hotel or a hall, the cost of booking a venue can be prohibitive, more so if you’re holding your wedding in a hotel. Picking a venue for your wedding is like making picks on NBA on BetAmerica.com: you should go with your instinct and avoid overthinking.
Forget all of that and instead opt for a simple ceremony at home or at the park. Home weddings are often much cozier and more intimate due to the smaller space.
Of course, before doing so, check with your neighbors to see if they mind. At home, you’ll be able to save on accommodation as friends and family can easily bunk with you.
In Malaysia for example, weddings were traditionally held at the home of the bride where everyone got together to cook the meals and prepare the decorations. The communal atmosphere of everyone getting together often made weddings homelier and more memorable.
Holding your wedding outdoors at a park can be equally special but you’ll need to have a backup plan in case of bad weather.
4. Prepare your own alcohol
Having an open bar wedding can be a costly affair. Typically, hotels and function halls are absolutely cutthroat when it comes to booze.
Instead shop around outside and supply your own alcohol. Oftentimes, you’ll be able to get better quality alcohol at much more affordable prices.
Getting married is one of life’s most memorable events. With proper planning and preparation, you should have no trouble hosting your own dream wedding.
Author: Benjamin Lee