Weddings Are Expensive, But 321Financial Can Help
So, you’ve met the man or woman of your dreams and recently decided to get married. This is easily one of the most exciting times in your life. Your parents are head over heels and your friends are thrilled and can’t wait to celebrate the occasion with you. Bliss abounds in the early stages of an engagement until couples get into the nitty gritty of actually planning and paying a Wedding. 321Financial realizes that this is the point in which stress begins to set in for most couples.
Weddings are beautiful, elaborate events but they are also very expensive. The average wedding in the United States costs a whopping $26,444. And if you’re like most Americans, it is unlikely you have 20 grand or so lying around to pay for a wedding. Traditionally, the bride’s parents have taken on the brunt of wedding expenses with the groom’s family paying for the rehearsal dinner and honeymoon. But 321Financial knows that even well-established parents have trouble getting enough money together to pay for their child’s wedding.
By the time children marry, the best case scenario is that parents have recently finished paying off their homes and student loans. On average, parents contribute about $13,422 towards their child’s wedding, which is a rather generous sum. But still, this only accounts for about half of the average cost of a wedding.
So what options are available? Well, if you are at the point where you are ready to spend the rest of your life with someone, 321Financial believes it stands to reason that you are ready to collaboratively plan and budget for your big day. Some of this will involve being a bit frugal in spots, but overall, it should aid in securing the funds you need.
- Take Your Time: 321Financial understands that patience is probably the hardest thing to come by following an engagement. But in most cases, patience is the most prudent course of action for a variety of reasons. The first is that having a two or three-year engagement rather than one year gives you more time to save. Furthermore, you can save a ton by booking venues in advance by locking in lower rates.
- Get Married During Off Season: Peak wedding season is between June and September, but planning your special occasion a few weeks prior or after the summer rush could save you thousands. Wedding halls and hotels are in high demand during peak season allowing them to raise their rates. If at all possible, shoot for a wedding in May or, if you’re in a warm weather state, a winter wedding could work as well.
- Don’t Get Married on a Saturday: For obvious reasons, Saturday is the most popular day for weddings. People often worry about friends and family from out of town having ample travel time without missing work. And while that is a worthy consideration, 321Financial suggests a Friday or Sunday wedding if money is an issue. Your loved ones will make the necessary arrangements to attend.
- Hold Your Wedding and Reception at the Same Location: Vendors typically charge by the hour and if you are able to lock in rates at a single location, it is often cheaper than paying separate vendors. Also, you save your guests a bit of travel from the wedding to the reception.
The post 321Financial has some tips for those planning a wedding appeared first on Jeremy Marcus Finance.