Getting married should be the happiest day of your life.
However, the big day is accompanied by a big expense and, if you’re not careful, it could lead to long-term financial problems.
Frankly, that’s the last thing any newlywed couple needs as they embark on the exciting new chapter.
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How Expensive Is The Average Wedding?
According to Wedding Wire, the average wedding in Canada costs just shy of $30,000 (1).
The pressure to keep up appearances encourages almost one in three couples to get themselves into debt courtesy of credit cards and loans.
Sadly, this can put a lot of strain on newlywed couples, preventing them from securing their dream homes or enjoying the lifestyles they wish to lead.
Given that money worries are cited as the number one reason for divorce (2) in Canada, building a more affordable wedding should be top of every bride and groom’s agenda.
The Best Ways To Cut Wedding Costs Without Compromising On Happiness
Reducing the cost of your wedding shouldn’t reduce your enjoyment.
Here are the best ways to enjoy the dream wedding without causing a financial nightmare.
Choose The Right Date
June and September are the most popular months to get married, meaning it’ll cost you more due to the simple economics of supply and demand.
Likewise, the rates on everything from venues to catering are typically more affordable on Sunday through Thursday.
A midweek March wedding, for example, could shave thousands off of the wedding bill.
Keep It Small
While every couple experiences the temptation to organize the biggest bash anyone has ever seen, it really isn’t needed.
Limiting the numbers doesn’t only reduce the costs, but it additionally enables you to cherish the presence of your nearest and dearest on the big day.
Besides, you can arrange a cheap and cheerful engagement party or post-wedding bash to see others.
Take Your Time
The average couple is engaged for around 18 months before tying the knot.
Extending your engagement gives you far more time to save money for the big event.
This helps you avoid the need for loans and credit cards, thus saving interest rates and spiralling debts.
Furthermore, it can remove the pressure to rush your wedding plans.
Take The DIY Route
A wedding venue that allows you to create your own interior setup and choose outside catering companies can save you a lot of money in the long run.
Meanwhile, ideas such as creating your own wedding invites can reduce the financial burden without affecting the big day.
You can also ask loved ones to provide services, such as baking the wedding cake, instead of gifts.
Go Small On Other Activities
The cost of your wedding isn’t limited to the day itself as there are several events that must be considered before and after the event.
Choosing local bachelor and bachelorette parties is a smarter move than expensive overseas vacations.
Likewise honeymooning a few towns over can save a lot of money. Being together is the main thing.
Taking Financial Control Today
Before starting your wedding plans, it’s important to gain a clearer image of your finances to prevent any damage to your future financial health.
For expert and impartial advice, call Bankruptcy Canada on (877) 879-4770.
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