Wednesday, October 15, 2008

Paying For Your Wedding (Recession Blues)

We were recently contacted by Tammy in Bristol, TN about saving for a wedding. Given the state of the economy, she is questioning if she should delay her destination wedding until the economy improves.

This is a really personal decision and we don’t feel comfortable telling people what to do. However, we will offer some really broad advice.

First, you could think of a thousand reasons to delay your wedding – finances, family drama, apathy to planning (the engagement bliss period), etc. If you are unemployed and are in financial difficulties, you might consider it. On the other hand, you could always find a reason to delay.

Second, allow us our Suze Orman moment. It’s really not worth beginning your new life together with a lot of debt. If you are fortunate enough to have parents who will pay for your wedding, congratulations! If not, you’re like most couples these days and are paying for it yourselves. If you are in the latter boat, you should try to save the money and pay for it completely – and not go into debt.

Finally, the wedding is a special day, but is only one day. Would you rather spend an extra $5,000 on the wedding, or would you rather take another vacation?

Get married, but be wise about it financially.


Tim said...

Here's a good guide for your readers who may be planning a destination wedding:

Somchit Srimoon said...

I am sorry to say that you seem to have a little bit of the blues from the fear of the economic uncertainties. Let us put things in a light that can be easily forgotten. The economy is still not bad as it was 40,50,70 or even one hundred years ago. If we spend our life worrying about what might happen, we miss out on what can be. I believe that message was meant by Benjamin Franklin in his famous quote "Do not anticipate trouble, or worry about what may never happen. Keep in the sunlight."

In truly disastrous time and in the end of our lives, it is just these special moments, like weddings, that we remember fondly and draw our strengths from.

I too am a fan of Suzie, and do not believe in wasting money but just how often does one get married? A time to look forward to and show our strengths as individuals and as a united couple or family unit. Maybe that is the reason that countries where the material wealth may not be so plentiful as in the USA, they tend to embrace the meaning of the wedding ceremony a life changing moment more than just a reason to be "the center of attention" and party with friends and family.

Isledo said...

Caribbean weddings are more affordable also you can enjoy beach weddings.

there are many wedding planer are available for Caribbean weddings.