Instructions
- 1 Save for your wedding. Certificates of Deposit (CDs) offer one option for short-term savings that offers higher returns on the initial investment. Having a regular savings plan to save as much unrestricted income as possible in the months preceding your wedding can help you to accumulate as little debt as possible. Saving coins and $1 bills in the months leading up to your wedding can add up, too, perhaps contributing a decent down payment toward the honeymoon.
2 Talk to a representative from your financial institution. Many banks offer free advice to couples about budgeting, saving and purchasing a home. Inquire about a home equity line of credit to help cover wedding expenses. For engaged couples who may already own a home either individually or together, a home equity line of credit provides a flexible option for financing along with low interest rates.
3 Set a realistic budget. Be careful of hidden costs. Dont make the mistake of going over budget. Be prepared as a couple to compromise on many of the details. Consider using a combination of savings, paying out-of-pocket, home equity and credit cards to finance the cost of your wedding.
4 Pay as you go in order not to incur debt. Even if you dont have a lot of excess cash, you can pay off many of the bills related to the wedding beforehand. Most vendors who provide wedding services require a 50 percent deposit at the time that you place the order. This gets you halfway there from the start. And remember, all costs are negotiable.
