If you had to guess, what do you think is the main explanation for arguments between married couples? Your mind may be drawn to the apparent: affairs, parenting, different lifestyles, cleanliness, large families, and more. The list goes on.
But the hard truth is that the culprit is most frequently cold hard cash. Money consistently take top spot with regards to marital fights. In addition, these financial problems often begin even before the marriage license is signed. The reason is quite easy: Weddings are expensive. Very expensive, in fact. In some cases, the price of a marriage can equal a down payment on a house! Everything from the dresses to the cakes to the food served at receptions is raised significantly, so much so that in some cases young couples who have not even started a life together are digging themselves a financial hole that could take years. recovered from.
As we reach the climax of wedding season, follow these three suggestions for a financially responsible wedding, and remember – it is only a party!
Consider Alternative Rings
From clothes and accessories to food and entertainment, there isn’t any law that says a marriage must follow a certain set of rules or guidelines. In particular, there’s one big expense where anything less traditional should be seriously considered, particularly if you are interested in saving money. Many Millennial couples avoid expensive diamonds that do not retain their value and go for non-traditional rings. That’s a smart idea considering the average American spends over $6,000 on an engagement ring.
“We have seen a significant spike in sales of engagement rings featuring pearls,” said Leon Rbibo of Pearl Lagoon. “Not only are they more cost effective, but they’re timeless and classic – these are truly wedding staples considering how popular they’ve been over the years. Pearls are also the official birthstone for the month of Juneso keep an eye out for those early summer weddings.
And it is not just pearls that you should consider. Modern brides are flocking to rubies, sapphires and emeralds. Find something that suits you and your style and save plenty of money while you are at it.
negotiation
Marriage tax. It’s a real thing, and it is likely to cost you a fortune when it comes time to plan a marriage if you are not aware of it.
A study completed a few years ago showed that vendors increased their prices by an average of 28 percent when they provided services for weddings. That’s 28 percent less money that could be used to buy a new home, retirement account, rainy day fund, and more. Good news? This marriage vendor openly admits to being willing to negotiate. The same study says wedding vendors are willing to offer money-saving advice if the couple is modest ask, so do your wallet a favor and begin haggling.
Choose Your Venue Carefully
The hotel is a lovely place to have a marriage. After all, what could be more magnificent than a ballroom? But proceed with caution; your choice of venue can directly determine how much money you need to spend on additional décor. Hotel ballrooms barely need a little, say, sprucing up. That can mean candles, flowers, selectors, centerpieces, additional lighting, and more. Translation: Ca-ching! Most couples end up spending between $2,500 and $10,500 at the venue alone.
When considering a place, there’s something to be said about natural beauty. Receptions at a sculpture park, arboretum, farm, beach, or lake can save you money. The natural beauty of the landscape more than makes up for it, and you will not need many of the traditional decorations that generally accompany wedding receptions and ceremonies.
The point of all these tips? Save. Every couple wants to start their marriage off on the right foot, and the best way to do that isn’t to put yourself in a financial hole early in the relationship. Think carefully about what you are need at your wedding and what are you want to at your wedding. The two aren’t one in one.
And remember, at the end of the day marriage is about you and the people you love. No one will remember the centerpieces or the type of cocktails served. Everyone will remember your commitment to one another.
