Creating a budget for your wedding will help save you from unexpected costs and over spending on your special day.
Weddings are wonderful events that bring new families together and serve as reunions for old friends. Aside from having all of the people you love most gathering in one place, the ceremony, the reception, the music, the flowers and everything else also make a wedding memorable.
However, weddings can also be a bit of a burden financially speaking, regardless of who is actually paying for them. So far in 2015, the cost of weddings is at an all-time high averaging around $31,000! Whether you or your son or daughter plan on spending $5,000, $15,000 or $50,000, the costs of a wedding can add up quickly if you don’t budget where your money will be going before you start spending.
If you or your son/daughter is getting married this wedding season, Peoples Bank & Trust wants to help you take control of those wedding costs. Here are some things to consider when creating your budget:
- Who’s paying for what? Discuss how much you and your future spouse would like to spend, then have that conversation with your folks to determine how much total money will be allocated towards the wedding.
- Decide on what’s most important. Explore what type of wedding you would like to have compared to what you can afford. Want that grand ballroom or a professional photographer? Examine these areas you want to “splurge” on, so you can distinguish the areas that you are willing to save on to balance out your budget.
- Stay on track! You, your future spouse, and your families created a budget for a reason, try and stick with it! Weddings can be notorious for having hidden costs, so be prepared to cut back in other areas of your life to stick to your budget and to be prepared for those hidden extras.
Don’t let the cost of a wedding scare you. As always, you can turn to Peoples Bank & Trust if you need extra financial guidance. Our financial experts are great resources to help you budget and finance for the big day!
Don’t hesitate to contact us for more information.
Peoples Bank & Trust Co.
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