Take your time saving up with a long engagement
The average engagement is 15 months, according to the 2020 Wedding Report from WeddingWire. Give yourself plenty of time to save up for the big day, and start saving money a year in advance before putting down deposits. Wait even longer if that’s what works for you.
Plan your wedding on your time frame, because in some cases, it might be the best decision to wait until you’re financially prepared. Create a budget with your fiance so you can cover your wedding expenses with cash.
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Ask your guests to pitch in
Not everyone needs or wants to receive gifts for their wedding. Instead of loading up your wedding registry with brand-name kitchen gadgets and delicate china you’ll only use a few times a year, consider asking your guests to help cover the wedding expenses.
Set up a cash registry, such as Honeyfund or The Knot Cash Fund. If you don’t want your wedding to result in more clutter, you can tactfully avoid getting gifts you don’t want by setting up a registry and adding a small note on your wedding website instead. But at the end of the day, the gift-giver is going to decide what they want to give you.
Use a credit card with an introductory 0% APR period
Putting all your wedding expenses on a credit card is inadvisable, since you’ll end up paying mountains of compounded interest by the time your ceremony is over. However, there’s an exception to the rule: You could take advantage of a credit card with an introductory 0% APR period.
Some credit cards have intro APR periods that last up to 20 months, which could give you plenty of time to plan your wedding and repay the debt before you’re charged interest. Keep in mind that if you don’t pay off the debt before the promotional period ends, you’ll end up paying interest on the remaining balance.
As an added bonus, you could try to utilize a rewards credit card to earn travel miles or cash back on all your wedding purchases. Just use caution when you take out credit card debt to pay for your wedding, and make sure you repay the balance to avoid paying interest.