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.
