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9009 West Loop South, Seventh Floor, Houston Texas
1-866-889-9347 |
CCCS of Greater Chicago
A Division of Money Management International |
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Regional Headquarters - 70 East Lake St., Suite 1115, Chicago Illinois |
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Saying 'I Don't' To Debt When Planning a Wedding |
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 I often find it interesting how people accumulate the debts we see at CCCS every day. One of the common culprits I see is the high cost of weddings, especially when talking to younger couples, and of course, their parents.
Clients have often said they felt it was the one area where they could justify going into debt. After all, they weren't blowing thousands of dollars on a fancy sound system or a cruise to the Bahamas. This was for a day they will remember the rest of their lives!
For many newlyweds, remembering that day won't be a problem, especially with all those monthly reminders that appear in the mailbox.
However, there are plenty of ways to keep your wedding at a reasonable cost, and still have that "day you've always dreamed of." For starters, many couples spend a fortune on the engagement ring and wedding bands.
Surely, everyone has heard that "you should spend two months' salary on the engagement ring." People never stop to consider, though, that the two-month rule is advertised by people who sell diamonds. For most people, two or three weeks' salary will buy a very nice piece of jewelry. Also, you may find that a relative has a diamond that they never wear, and that they may be willing to give it to you as a wedding gift.
Other cost-saving wedding tips include:
The wedding gown. Brides spend hundreds of dollars on a gown they only wear once before boxing it up and putting it in the attic. Wedding gown rentals usually start at about $100, and if you're willing to spend more, you can rent a much nicer gown than what you can buy for the same money.
Photography. In addition to what they charge to take the pictures in the first place, most photographers keep the negatives and charge you again for the prints. If you don't have a friend or relative who has photography experience, hire someone just for the formal shots and have friends take the candid reception photos.
Or, put a disposable camera on each table at the reception, and let your guests provide the photography. You'll get some great shots and your friends and family will have a lot of fun. Make sure you put a clearly marked basket near the door so people will drop them off on the way out.
The reception. Schedule the wedding so the reception is during the day. People tend to eat less, and especially drink less, in the afternoon than at night. Also, preparing brunch food is less expensive than preparing dinner.
Entertainment. Disc jockeys are less expensive than live bands, and can usually provide a wider variety of music. Another benefit to using an experienced disc jockey is that they've worked at hundreds of weddings, so they can truly serve as a "master of ceremonies," by making sure all the customary events happen at the right time.
The best rule of thumb, however, in planning a beautiful wedding within a reasonable budget, is to decide in advance how much you want to spend, and then be disciplined in not going over the budget. Be wary of overly aggressive sales people who may try to convince you that it's okay to splurge, just this once, because it's for your wedding.
Remember, the memories from your wedding should last a lifetime. Make sure all the feelings are positive by not piling up a mountain of debt.
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CCCS, A Division of Money Management International
Regional Headquarters - 70 East Lake St., Suite 1115, Chicago Illinois
Corporate Address - 9009 West Loop South, Seventh Floor, Houston, TX 77096
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