The Financial Rules for Our Debt-Free Wedding

by Debt Hater on May 16, 2011

Once upon a time, when I was young, dumb and deep in debt, I actually thought about borrowing money to pay for a wedding — $40,000 no less.

I shudder to think about how naïve I was.

I seriously thought about eloping, my guy asked me about it last month. I thought I wanted to avoid the hassle of wedding planning. I thought I wanted to spend little or no money at all. I thought I would be perfectly happy going down to the courthouse and calling it a day.

I may still feel like that before the big day arrives. But not today.

Why We’re Having a Wedding
I don’t put ALL my business on the blog ☺, but my guy and I have been through a lot and come out on the other side a stronger couple – a team – and I just love him to pieces. I want to share this moment with the people we love and who love us and have been our shelter and shields through tough times.

And, of course, we both LOVE our mommas. I’m the oldest and only daughter. Roy is the baby. We couldn’t elope on our mommas. If we did, they would live. They would accept it. But deep down, we all know they would be sad they didn’t get to see us tie the knot.

So there you have it.

The Financial Rules
What’s my name? That’s right.

There will be no borrowing or future mortgaging to pay for this wedding. I am not adverse, however, to asking our folks who can help to help, but that’s something to discuss with my guy.

Here are the financial rules for the wedding:

Pay cash. There will be no debt accumulated from this wedding. We’ll use credit for deposits and payments, but the cards MUST be paid in full each month – in other words, pay cash for the wedding.

Stick to financial goals. I want to have six months of living expenses saved, in full, by the end of the year. That means, I can’t spend it down to pay for the wedding. I am saving for my half of the wedding right now (six months is in the bank already). There are other expenses that are coming up too (hi, I have to move), so I still need to pay cash for the wedding and all other expenses and still have six months of living expenses in the e-fund at year end.

Talk about everything. I am running this show (sorry hubby-to-be), but will be up front and transparent with him about every item and every penny. We may decide that we won’t split the costs right down the middle (there may be things we both pay for – venues, hotel, food, cake; and items that I only pay for – hair, shoes, makeup; or that only he pays for – suit/tux, gentlemen’s shave and haircut. Don’t know yet, but we will discuss.

So, what does a Debt Hater actually plan to SPEND on a debt-free wedding? I’ll get to that in my next post.

{ 1 comment… read it below or add one }

Margie May 17, 2011 at 2:26 pm

Congrats on the upcoming wedding! My DH and I got married last October – our parents paid about $10K and we paid cash for the other approx. $7K. My only regret is that I charged the honeymoon flights/hotel as well as make-up/hair stylist. I really wish I had either gone without, adjusted my expectations on these things, or saved more! I think you are definitely on the right track with paying only cash – and if I have advice for you I’d just say don’t let yourself get sucked into making it perfect . . . because it already WILL be just be nature of the fact that you are marrying your best friend! Extras won’t change that at all! :) Looking forward to reading your journey!!

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