How to Finance a Wedding on a Tight Budget

Maybe you and your significant other have been getting more serious lately. You might be dating exclusively, or perhaps you have moved in together. If so, you may envision what the rest of your lives will look like as a couple.

At this point, you should probably start thinking about paying for the wedding. You must ask yourselves how big and elaborate of a wedding you want. 

We will discuss how to finance a wedding on a tight budget right now. You have several options open to you, so you’ll need to consider each one and its viability.

Wedding Loans

You might decide that you want to get a wedding loan. These are generally loans that you get from lending entities like credit unions and banks. You can approach a lender and tell them you want a wedding loan. They’ll ask how much you need. They will also look at your credit score and ask you about your employment situation.

You have a better shot at getting the loan if you have at least a decent credit score. You should try getting a loan with as low of an interest rate as possible. You should also probably only go through with this option if you have a steady job and you’re sure you can pay back the loan on time.

Trimming the Guest List

When you’re having a wedding, you can invite as many or as few people as you’d like. If you have a larger wedding party, though, it’s more expensive.

The more people you have, the more you’ll spend on food, the cake, the open bar, etc. If you have a smaller wedding, you can keep those expenses to a minimum. 

You might think twice about inviting those third cousins you barely know. Keeping the wedding party small can lower the budget quite a bit.

Your Needs vs. Your Wants

You might want a big, blowout wedding, but do you need one? You may feel like you need a DJ, but you can just as easily set up someone’s phone with a playlist and a set of speakers. You may want a brand-new, custom wedding dress, but you can also look for cheaper versions at bridal expos.

You must consider what you need for your wedding and what you merely want. There’s a difference. Certain items might need to drop off your list if you realize the cost is going to be too prohibitive.

The Venue

The venue you’ll use for your wedding is potentially a huge expense, but it doesn’t have to be. If you have a relative with a large backyard, you might have the wedding there on a nice day. You can do that if you trim the guest list to a number that can easily fit back there.

With this option, you can avoid renting out a wedding venue that will cost you hundreds or thousands of dollars.

You Can Have an Inexpensive Wedding

Financing a wedding on a tight budget is always possible. You might get a loan from a lending entity if you need one. If you have at least decent credit and a reliable job, you’re more likely to get the cash you need.

You can save up for your big day and put it off till you have enough money. You can also ask any relatives to chip in if they are in a position to do so.

You might trim the guest list so that only the people you deem essential are there. You probably don’t need to invite some distant relatives. That way, you’ll pay less for catering, and you can get a smaller wedding cake.

You can skip hiring a DJ and other unnecessary expenses. You can also have the ceremony in a relative’s backyard or a public park if the weather is nice.

These adjustments should get you into a great position to have a pleasant wedding experience that doesn’t break the bank.