Useful Debt Advice to Help You Survive Wedding SeasonAug 29, 2017
There’s a lot of online advice warning soon-to-be-married couples about the dangers of wedding debt, but many wedding guests are looking for good debt help advice, too. Wedding season can mean attending multiple weddings. As a guest that means a gift, outfits, travel, and other associated costs with attending. It can add up quickly.
Here are three tips to help you survive wedding season as a guest:
Go in on a wedding gift with a group of people.
Let’s face it, wedding gifts can be expensive — and there are really no official rules for what you should spend. If you have your eye on a gift that’s out of your price range, why not ask friends or family that are also invited to share the cost? It’s a win-win situation. You can stick to your gift budget, and the special couple receives a gift they really want. Even better, you’re less likely to use credit card debt to make it happen.
Budget for everything with a wedding.
We’ve said it before, we’ll say it again — a budget is one of your best financial tools. Creating a specific wedding guest budget helps you figure out exactly what you need and how much to save. You can pay for your costs up front and avoid taking on new credit card debt. Don’t forget to factor in less obvious wedding-guest related costs such as drinks, transportation and accommodation costs.
Your wedding guest budget should also align with your overall monthly budget to ensure that you’re not overspending. Don’t have a budget? Here’s a budget worksheet that can help get you started.
Continue to pay down your debt.
Don’t sacrifice your own debt repayment efforts in order to pay for wedding guest costs. If you’re invited to a destination wedding or multiple weddings, you may have to pick and choose what events you’ll attend. The important thing is to stay true to your debt relief goals, and also do your best to get through wedding season without taking on new debt.
If you don’t have a plan in place to pay off your debt, do your homework. There are a number of formal debt relief options that can simplify your debt repayment efforts. And there are a number of personal stories out there that detail how others deal with their debt.
These tips are just the tip of the iceberg. We encourage you to continue looking for good debt help advice, then take what you learn and put it into practice. After all, we’re only halfway through wedding season – and destination wedding season is just around the corner.
Looking for more #DebtSolutions? Join the conversation on Twitter and share some of your best ways to be a frugal (but great) wedding guest! #summerofweddings