Wedding Budgeting

23 Jan

dollar-sign.jpgI’ve started doing the math.  I’ve started looking into the total cost of the wedding and I’ve got to say, people are nuts.

It never even dawned on me that people would take out a loan for their wedding. Then I found this article which suggests you’re CRAZY to pay for your wedding without a loan.

Really?  Am I really supposed to take out a loan for my wedding and keep the savings account flush?

I started thinking about it and have decided that it actually, in these times of $30,000 weddings, makes sense to do what we’re doing.  It makes sense to start planning ahead and thinking about how to spread those big expenditures over time.

I feel rejuvinated.  I feel like I’ve finally found my purpose in this wedding planning.  I think I’ve actually figured out how I can be of use.

Listen, guys, if you know you’re going to marry her, get it out there.  Get to work on planning it.  One way or the other, it’s going to happen and you can do one of three things:

1) Pay a ton of money at once.  This will require dipping into savings or ringing up the credit card.  Both bad.

2) Take out a loan or other debt.  Personal loans are bad news.  If you don’t have the money now, you won’t have the money later.

3) Spread the big expenses over time and take your lumps.

For us, taking the lumps makes sense.  I don’t want to touch my investments and she doesn’t want to take on debt.  We both know where this is going, so we’re starting the planning now.  So, we’re working on paying for some things now and are making our plans for what we can take on later.

A perfect example is the rings.  We’re buying the engagement ring now, but we’re getting the bands later.  We’re booking the wedding location now, but saving the “moderator” and food for later.  Photographer now, music later.

Is there another method for people whose parents aren’t made of money?  Has anyone taken a loan and not regretted it?

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