How Can I have a Great Wedding on a limited Budget?

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Getting married can be a really big occasion for many people. Some people will have thought about their wedding from when they were a child. They may have ideas about the venue, dress, car, cake and all sorts of other things. The main problem with weddings is the cost. If you have a limited budget then you may feel that you cannot get married as you do not have the money to pay for everything that you want. However, It is possible to have a great wedding even if you have limited funds.

Concentrate on the commitment

It could be that you are putting too much pressure on yourself to make such a big day out of it. It could be best to just concentrate on the commitment that you are making in your relationship rather than the big party and celebration. A wedding is really just an opportunity for a couple to commit to each other and if you feel that you want to make the commitment does it really matter if you have all of the other traditions which surround it that cost so much money. Consider whether you really want them or are just thinking that you have to have them because that is the expectation.

Have a small wedding and plan a big wedding anniversary

If you really want to have a big celebration then you could delay it. If you have a ceremony to get married that is cheap and cheerful but then plan a big party and celebration with lots of guests for a future wedding anniversary. This could give you time to save up without having to delay the wedding. It could avoid the problems of not being able to have the dream wedding without delaying things. If you feel it is time to make that commitment and you do not have the money for a large wedding, then this could be a useful compromise.

Take time to save up

If you are happy to wait then you could take time to save up for the wedding. It is worth bearing in mind though, that due to inflation meaning costs will rise, the longer you take to arrange the wedding the dearer it will be. You will also need to be committed to saving. It could be wise to save a certain sum of money each month so that you can see the savings accumulating. Have a savings account especially for it and work out how much you can afford to put by. If you set up a direct debit then this will be even better as you will not need to remember to transfer the money. Make sure that you transfer the money just after you are paid so that you know the money will be there and available to put into your savings account. You will have to make sure that you budget carefully so that you manage everything else that you have to pay for as well. It is important to make sure that you do not save so much that you cannot cover your essentials. It is therefore worth taking some time to calculate how much you need for essentials so that you can decide how much will be the right amount to save.

Find items at sale prices

It is always worth looking at for sales. You might find that the dress you want or the decorations might be reduced at some point and so make sure that you are always looking out. It is unlikely you will get a reduction on the venue, cars or things like that, but there will still be places you can save money and it is good to check. Compare prices though, as even if you cannot get the products at sale prices there will be some places that are cheaper than others and by looking at the different prices you will be able to see whether you can spend less if you choose particular places to shop in.

Borrow the money

Many people do decide to borrow the money to pay for their wedding. This is a solution that will mean that you will not have to delay the wedding until you have saved up as you will get the money right away and pay for it afterwards. It will also mean that you are less likely to have to compromise as you will be able to get the amount of money that you need. There will be restrictions on borrowing of course and if you have a poor credit record you may not be able to borrow at all. A lender will look at your credit record and take you income into consideration when deciding how much you can borrow. It is important for you to make sure that you are confident that you will be able to repay the money that you have borrowed. You need to think about the monthly repayments and how you will manage those. You will be able to compare lenders and they will have different repayment schedules and so it is wise to pick one that will suit you. Make sure that you can afford the repayments and that the costs of the loan are competitive.

Is Being Scroogelike the only way to Rid Myself of Debt?

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If you are trying to get out of debt you might feel like you will be having to scrimp and save every penny and never be able to give to charity or treat friends and family to anything. This can feel very wring to a lot of people. It is natural to want to be generous and help others but it is important to get a balance so that we do not increase our debt more or so that we are unable to repay it.

Set a budget

It is possible to set a budget so that you can still afford some generosity while you are paying off your loans. It is up to you. If you carefully work out how much money you have coming in and how much you need to spend on necessities you will be able to see what is left. Some of what is left you will want to pay towards repaying your loan but you might want to allocate some of it to other things. It will depend on how much you have left and how quickly you want to repay the loan. If you do not mind repaying it more slowly then you can use more to pay towards charity and giving gifts. It may mean that you will have to give up spending in other areas so that you can still do this or that you will need to spend a bit less than normal on this sort of thing. You will have to work out how to balance it all so that you can repay the debt and still be able to give the money that you want to.

Explain to people

It can be a good idea to explain to people that you will be repaying your debts and so will not be so well off. If they have come to rely on you to help them out financially or have got used to you treating them, they will understand that this will not happen so much while you are repaying your quick loan. Most of them will completely understand and this will mean that they will be happy to ask you for less or to expect less for a while. If they do not understand then it may indicate that they are not really grateful for the help that you are giving them. It might be the case that they are grateful that you are going to be doing less because they may feel that they have to normally reciprocate and it might be something that they cannot afford to do. They might feel guilty anyway and decide that this is a good time to stop so much gift giving.

Only temporary

It is also worth remembering that the situation is only temporary. Once the debt is repaid then you will be able to afford to give more money again. In fact, because you will not be paying interest on your debts, you will actually have more money to give away if you want to. It could therefore be better to pay out less money and concentrate on repaying that debt and then you will more quickly have more money available to be able to pay out even more. It might seem like although it is temporary, it is still a long time. It might be that it will take years to repay the loan. However, it is important to make sure that you do not let your debts go out of control and so allocating some money towards repayment is really important. You need to make sure that you do not feel guilty for doing this as it is very likely that those you are helping would not want to think that your generosity to them has led to you being in debt. Most people would not want to think that they have caused this.

So, whether you decide to be Scroogelike or not is really up to you. If you cannot bear to stop giving money to charity and things to others then you should be able to budget for it. However, the loan will not last forever and so you should be able to soon be able to start giving money again if you want to. It may also be that you want to be able to treat yourself to things and you might still be able to do this to some extent. However, you will need to be careful with this as well, because you will need to use as much money as you can to pay off the loan. It is good to give it some thought and decide whether you would rather concentrate on repaying the loan and adopt Scroogelike behaviour or whether you would like to not do this and repay the loan more slowly. It will really depend on where your priorities lie and only you will really know this.