Blogging for Change

Tips for cutting down on wedding expenses

by Jesse Campbell on
6/28/2015
in Personal Finance

The following article is provided by the National Foundation for Credit Counseling.

Summer may be a big season for weddings, but a recent online poll by the National Foundation for Credit Counseling© (NFCC©) revealed that many believe smaller is better when it comes to the cost of the celebration. Among those responding, 65 percent felt that it would be best to have an affordable wedding and skip or postpone the honeymoon.

“Many relationships are destroyed because of overspending and debt problems,” said NFCC vice president of public relations and external affairs Bruce McClary. “Starting with a healthy approach to financial management helps create a solid foundation for the long term success of a marriage.”

It is believed that the average wedding will cost couples as much as $30,000 this year. Lack of personal savings and costly student loan debt can make it tough for younger couples to transform plans into reality. Couples can consider the following tips for saving money and avoiding debt for their wedding and travel:

The Plan – Allowing more time before the ceremony in order to grow savings will help avoid credit card debt that will linger long after the festivities are over. Planning ahead also makes it possible to take advantage of seasonal sale prices on things needed for the ceremony and reception. Clothing and decorations can be purchased at different times through the year, making them easier to fit into a budget.

The Wedding – Nuptials that take place at beach resorts or other popular tourist destinations can drive expenses through the roof. Major cities can also make it expensive to book hotels and reception halls. There are a number of low cost venues for a wedding that can be found right around the corner. Places such as parks, art galleries, community centers, local bed and breakfast inns, or even the backyard of a friend or relative have the potential to help save hundreds of dollars. Stretch that savings even further by avoiding Saturdays!

The Party – The reception is a big deal, so it can be challenging to cut corners. Alcohol is the largest expense for most celebrations, and is an easy target for trimming the budget. One way to save in that category is to limit the types of alcohol that are available to guests at no cost, and have a wider variety available at a cash bar. Alternatively, guests could be invited to contribute by bringing their own favorite beverages for themselves and others.

The Honeymoon – Travel is a category that can drive costs through the roof just as easily as it can turn out to be very affordable. Experts often suggest taking the road less traveled in order to get the greatest value. Another suggestion for savings is to plan everything à la carte instead of booking a package deal that might include activities or amenities that could go unused. Book travel in advance and look for times of year that are considered off-season for the intended destination.

There are plenty of opportunities to save without sacrificing the fun and romance of a wedding and honeymoon. If debt is standing in the way of wedding plans, consider speaking with a certified credit counselor. They can help you budget and create a plan to reduce your debt.

Jesse Campbell photo.

Jesse Campbell is the Content Manager at MMI, with over ten years of experience creating valuable educational materials that help families through everyday and extraordinary financial challenges.

Recommended Articles

Man sitting in front of pile of bills, trying to understand his options.
Professional Budget Advice
Make the most of every dollar and start building toward your dreams! Budget counseling is FREE and available 24/7.
Learn More
Learn more
  • Better Business Bureau A+ rating Better Business Bureau
    MMI is proud to have achieved an A+ rating from the Better Business Bureau (BBB), a nonprofit organization focused on promoting and improving marketplace trust. The BBB investigates charges of fraud against both consumers and businesses, sets standards for truthfulness in advertising, and evaluates the trustworthiness of businesses and charities, providing a score from A+ (highest) to F (lowest).
  • Financial Counseling Association of America Financial Counseling Association of America
    MMI is a proud member of the Financial Counseling Association of America (FCAA), a national association representing financial counseling companies that provide consumer credit counseling, housing counseling, student loan counseling, bankruptcy counseling, debt management, and various financial education services.
  • Trustpilot Trustpilot
    MMI is rated as “Excellent” (4.9/5) by reviewers on Trustpilot, a global, online consumer review platform dedicated to openness and transparency. Since 2007, Trustpilot has received over 116 million customer reviews for nearly 500,000 different websites and businesses. See what others are saying about the work we do.
  • Department of Housing and Urban Development - Equal Housing Opportunity Department of Housing and Urban Development
    MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
  • Council on Accreditation Council On Accreditation
    MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • National Foundation for Credit Counseling National Foundation for Credit Counseling
    MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.