Jumat, 30 Mei 2014

A Better Wedding without Breaking Your Budget

A wedding will probably cost the happy couple
and their parents more than they expect, even if
they’re used to sticking to a budget.
There are so many things which have to be paid
for!

I’ve put together some tips to help you keep
control of your spending. Otherwise, you will
start your life as a married couple with a financial hangover that it
could take months or even years to recover from.
I can almost guarantee that your expenses will be more than you
thought. It’s like a “Parkinson’s Law” for Weddings; instead of “work
expands to fill the available time”, you get “expenses grow to
swallow the available budget!”.

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Your Budget.

1] Decide what you must have, list what you would like to have and
be ruthless about trimming what you can do without.
2] Never assume that anyone will give you some money or pay for
a particular item or service. Ask them, if you feel that is
appropriate. Otherwise, plan to cover it yourself.
3] Keep talking to everyone. Even when someone has committed to
paying for something, keep in touch. Remember that people’s
circumstances may change rapidly through an accident, a change in
their employment, unexpected medical expenses or just a change in
of their priorities. Keep in touch, and try to be as understanding as
possible if they cannot fulfill their promise.
4] Some people put conditions on their “help”. That might be to add
“How to Have a Wonderful Wedding” by Maureen Parnell Page 11 of 70
more people to your already bulging guest list or to sing at the
reception. You must decide with your partner how important the
financial contribution is to your budget and whether you will
accommodate the “request”, and possibly disappoint other people,
gently insist that the help is unconditional or decline the gift.
5] You, or your parents, may consider getting a loan to cover some
major wedding expenses. This is a personal decision which I can’t
advise about.

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I suggest that whoever is looking at this option, consider the longterm
effects:
1) Will this extra burden put a strain on your other financial
goals?
2) Will this debt put a strain on your relationship with each other
or your parents as you start married life?.
3) Can you comfortably meet the repayments?
4) Have you compared loan options, read all the fine print and
selected the best terms available?
5) How really important is the loan to making your wedding day
a happy one?

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