With costs for the average UK wedding amounting to £18,000, for far too many people preparation for the big day can lead to stress and debt for the sake of just one day.
What Can we Afford to Spend at Our Wedding?
When working out your wedding budget it’s essential to stay organised; make sure you plan all expenditure to ensure you don’t overspend on your big day. Take some time to list all the categories (e.g. dresses, venues, flowers, food) that you need for your wedding day. Using this list, identify the amount you can afford to spend on each.
Breaking down what you can afford to spend on each category will highlight the areas where savings can be made. Once you have gained a better understanding of your budget, prioritise the areas that are most important to you.
Start Planning Early
It’s important to keep tabs on wedding related expenditure as it can be easy to lose track of your finances when planning over a period of time. Planning early can help savings be made.
Avoid the Crowds
If you're able to pick a less popular day for the wedding (Friday or Sundays for example), it can cut the cost of the reception venue by up to half – and weekdays by even more. On these days, discounts are often also available for photographers, florists and the actual ceremonies as well. It's always worth asking.
Responsible Money Management
Personal financial planning and budgeting for your wedding day and other special events are all a part of responsible money management. Proper budgeting helps keep your finances healthy.
At MYJAR, we are determined to lead the way in responsible short-term lending. Our affordability checks ensure we only lend to customers with a regular income and our policy of no rollovers ensures that customers cannot get themselves into a debt spiral with our product..
We’re clear and transparent, our borrower agreement is displayed on the site so prospective customers can assess whether a MYJAR loan is right for them before they decide to apply. We tell you exactly how much it costs to borrow before you do, and will tell you upfront how all repayments are collected.
If you need some assistance to meet an urgent financial requirement on either a short or long term basis, APPLY NOW for one of our loans.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk