|Miss Know It All|
Monday, July 22, 2019
How to know If You Are Financially Ready to Get Married by Miss Know It All
I don’t know if some couples are trying to keep up with the Joneses or if it is instant gratification when it comes to spending money you don’t have on a wedding, especially if you are already in debt.
There seems to a trend where couples are asking parents, relatives, friends, and even strangers to pay for their wedding. Traditionally, depending on the culture, the bride’s parents were responsible for footing the bill. Nowadays, there seems to be a shift in who is actually going to pay for the ceremony. In many cases the bride and groom will pay for their own wedding or the parents of the couple will contribute what they can afford.
You will know right from the start if you can afford to have an elaborate wedding. If you and your partner have disposable income, then go ahead and plan that extravagant affair.
But if you have to do the following to plan your wedding, then you should think long and hard before making that commitment, considering fifty percent of marriages end in divorce:
· Taking out loans to pay for your wedding.
· Going on a crowd-funding page and asking strangers to pay for your ceremony.
· Asking your quests to cover expenses for your reception.
· Requesting money in lieu of gifts.
· Refinancing a home or using credit cards.
According to Money Inc., 2019, the average wedding costs $33,931. But this will depend on your budget, the location, the number of guests, and the add-ons you want to include.
Of course, you can plan a nice wedding on a shoe-string budget. Go here to find out how.