 TITLE: Should You Go Into Debt for Your Wedding? CONTENT: How to Cut Your Wedding Expenses\n--------------------------------\nCouples have a ton of choices that can help lower the cost of their wedding day. Here are a few quick budget items that could be reconsidered:\n*   **Consider a venue change.** Instead of using a traditional wedding venue, rethink your wedding space. Some couples are now opting to do elopements, such as hiking with a tiny number of guests and an officiant to a spot on their favorite mountain. There are many ways to elope, so it might be time to start thinking creatively! Did you originally dream of a destination wedding? Instead, host your wedding at a venue that embodies an aspect of the destination you originally planned to visit. Don't be afraid to look online for wedding inspiration, or reach out to newlywed couples in your life for ideas and planning advice.\n*   **Resolve outside pressures.** Communicate your financial boundaries with friends and family who may be pressuring you to host a wedding that's beyond your means. Many couples underestimate how family expectations may influence what they decide to spend and the impact it has on their household budget as newlyweds.\n*   **Host a micro-wedding.** In fact, it shouldn't surprise you that 2020 saw a number of these beautiful weddings due to the impact of the COVID crisis and the need for smaller gatherings. Micro-weddings typically have a maximum of 50 guests but are often smaller. These weddings are ideal for couples who would like to keep their expenses low or would like to pay cash for their event.\n*   **Do it yourself.** Making your own table numbers, welcome signs and even flower arrangements can save you a lot of money over getting them through a vendor.\n*   **Communicate with your partner.** Have a conversation with your future spouse about the aspects of your wedding that you're both comfortable changing. Then discuss the non-negotiable parts of the wedding day experience that you deeply care about and would prefer not to downsize or economize.\n*   **Simplify everything.** Instead of giving all of your guests party favors, provide gifts just for the wedding party. Or skip the formal, mailed invitations and opt for an online version instead.\n*   **Skip certain wedding expenses.** Do your guests really need a beer mug commemorating your wedding day? Professional photographers are often worth the expense, but if you have a couple of friends who are great at photography, you might task them with taking your wedding pictures.\n*   **Shift the season.** Hold your wedding off-season, which will significantly cut down on your venue price and may give you more room to negotiate than during the wedding season.\nWhatever you decide to do, taking the time to think outside the box and be innovative with your planning can save you from having to go into debt for your big day.  \nHow to Prepare Financially for Your Wedding\n-------------------------------------------\nAfter spending some time fleshing out your wedding plans, sit down with your significant other and review your budget. Once you have a set budget in mind, open a dedicated bank account that will be used only for wedding related expenses and purchases. Your wedding budget will be an ongoing conversation until the final invoices for your special day have been paid.\nIf you're comfortable using your credit cards as a way to finance your expenses, consider speaking with your issuer for an explanation of the different rewards programs that they may have. Also, continuing to monitor the health of your credit is an integral step of this process.\nIf you'd like to avoid taking on debt, you and your future spouse may also consider increasing your income by working overtime or taking on side gigs and allocating that income towards your wedding budget. Wedding funds gifted to you by family members can also be placed in this account. Don't assume that your wedding guests will give you enough cash to fully cover the cost of your wedding day, however.  \nThe Bottom Line\n---------------\nIt's absolutely possible for your wedding day to be a memorable occasion without impacting your finances for years to come. Plan accordingly, be proactive and set financial boundaries that empower you to make the right decisions for your wallet. END