Lazy ‘n Frugal Guide – Finances



Along with the budgeting and the planning, you and your hubby-to-be have to think about the finances (or how the heck you’re going to pay for everything). Here are a few tips for getting your wedding finances in order:

* Open a special checking account just for wedding expenses.

* Low- interest credit cards allow you to pay the wedding off over the months leading up to and after the big event. American Express’ The Knot credit card is a no fee, low interest card that allows you to pay off your balance in full or over time. You can get extra cards for your fiancé and parents, convenience checks are included (with the same interest rate as the card) and you earn bonus points with ever dollar spent which you can use for travel, goods or hotels.  

* Many couples pay for the wedding themselves although surveys show less than 17% have saved more than $3000 towards their wedding. If you own your own home and don’t have enough cash saved up to pay for the wedding, you may want to look into a low-interest equity loan. The equity in your home gives you a flexible financing option, as you can:


– borrow as little or as much as you need, depending on your equity

– borrow at a lower interest rate than many credit card rates

–  take advantage of tax benefits

–  get the cash you need quickly

However you chose to finance your wedding, be careful to keep to the budget you’ve set out for yourselves. If you overindulge in one area (for example, you fall in love with a Vera Wang wedding dress that’s thousands of dollars more than you had planned on spending) another part of your budget is going to have to be cut back to compensate. 


My advice? Choose your indulgences wisely. Having a fabulous wedding dress but not being able to afford a good professional photographer to capture you in said dress is something to reconsider. Be sure to investigate other avenues before you splurge that ‘must-have’ dress, for example, may be found second-hand or on sale at a trunk show.




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