It’s Friday, which means Ask Team Practical with Alyssa! Wheee! Today we’re talking about budgets and weddings. Back at the beginning, the APW tagline was “Creative. Thrifty. Sane.” And we spent a whole lot of time talking about wedding budgets. But these days, we talk more about emotion, and less about the emotion of wanting to gouge your eyes out while paying for your wedding. So, I’m thrilled to dive back into budget talk today, after a week of talking about low key weddings, and surviving unemployment. Plus, Alyssa is dishing on surviving her wedding planning with a lot of debt, which is a story she’s never told before.
For someone who’s not *quite* engaged yet, I’ve been doing a lot of wedding planning these days. Without a ring on my finger, my Bearded Giant and I have already chosen a date, venue and our attendants. We’re looking forward to putting together a DIY wedding for around $7000. Thankfully, my parents are going to help chip in.
In the same vein of budgeting and money, I’m going into this marriage with quite a bit of credit card debt. (My 20s were not kind to me. Living in a big city, working for a nonprofit, and making nothing kicked my butt. I also played really hard…and accrued debt.)
Do people pay for weddings when they still have credit card debt? Am I the only one? Is it ridiculous of me to put money toward something other than my debt? I’m feeling conflicted and embarrassed by my debt, which is nothing new, but I need some help sorting this out in my head.
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CASH, honey, you are not alone. Many, many people plan weddings while still in debt. I’d even venture to say that most people who are planning a wedding have a debt of some kind already. But whether you should plan a wedding while in debt? That’s a horse of a different color.
I have to mention this, even though I’m not sure it applies to your situation. Your partner knows about your debt, right?? Both you and your partner deserve to enter your marriage with your eyes wide open and that means disclosing all the not so fun stuff. Hiding debt makes it so much worse and will ruin a relationship. Okay? Okay. (For more on marriage and finances, read this post and this post.)
What you should do is what’s best for you, your partner and your family. (As always.) Can you plan a wedding while still maintaining your current financial situation AND continuing to pay off your debt? If paying for all the things that come with a wedding will cause you to cut costs to a point that is uncomfortable, you might want to consider other options. Because let me be clear: here at APW, we think that anyone with any amount of money can get married. But if planning a wedding now will cause you to do without some important element to your ceremony or reception that breaks your heart a little, you might want to consider waiting. If you are considering planning a wedding and using the money you’re paying towards your debt (or opening another credit line) then we will be in a serious fight.
I’m gonna say it again – You should NOT go into debt just for your wedding. Nor should you go into further debt. It is bad news bears in so many ways, I can’t even tell you… You might have a stunning wedding, but when your credit score keeps you from being able to secure an important loan, that perfect wedding is going to look mighty bad in hindsight. Don’t do that to your wedding, it’s not nice.
However, a debt-free wedding is part of how things will work when I am czarina of the world, along with mandatory 2pm Twizzler breaks and the banning of jeggings. Continue reading Ask Team Practical: Wedding Planning While in Debt