Everybody wants it, and you don't always have it...and add a wedding into that mix and you can almost always kiss it goodbye.
So when the final balance reads $30,000, how do you pay everything off while still being able to go on a honeymoon? Well hopefully these tips will help you out:
Tip 1- Budget on Paper FIRST
It will cost you nothing except a pad of paper and a pen but this is the most important thing to do before you start paying deposits. Know what you need and what are the realistic prices for the items. Remember "Google Is Your Friend" and check out competitor companies to get a range on how much their services are; and if there is a major price difference, before you agree, always research as to WHY! Once you have done this and had a look around, you will go into it more aware.
Tip 2- ASK for a discount.
If you don't ask you don't get. The worse your supplier can say is NO, at best they can say yes...and a $50-150 discount is nothing to sneeze at! Some suppliers even offer incentives to you if you bring in clients.
For example- For every new wedding a bride brings to Komodo Music, she gets $100 off her wedding. For every other type of event (like birthdays, corporates, etc) they bring in they get $50 off. So if you and your friends are getting married, having a party or needing entertainment for your work function, if you get enough you can have the wedding for FREE!!!
Tip 3- Direct Debit Payments
Your internet banking should have the ability to do direct debit payments into accounts. When it is done automatically and regularly, not only will you not notice it (as studies have proven that you automatically adjust when you don't have to think about it) but by the time your wedding comes around you will start having a surplus of cash for the honeymoon.
For Example- A bride books her wedding DJ 12 months in advance and it is going to cost her $990. She has to pay a $200 deposit and the balance is due 7 days prior. If she pays equal amounts off every month, she only has to pay $71.80 per month. Otherwise she will need to find $790 the week of her wedding.($990-200=790) (790/11=$71.80per month)
Tip 4- Loan
Like the direct debit, if you take out a personal loan to cover the entire wedding, then you will only need to make one repayment per month. You should talk to your bank regarding personal loans and whether you want to go fixed or variable interest, but providing it is taken out regularly and automatically, you will hardly notice it. Also if you can, try to pay weekly or fortnightly instead of monthly as it will save you interest which in turn saves you money
Tip 5- Book Early
The earlier you book and pay your deposit, the more time you have to pay the rest off. Also this is good to ensure you get that year's price as most company's prices usually go up every few years. Just ensure that the price you book at does not fluctuate if the company's prices increase.