Many people make the mistake of going full out on their wedding even when the finances are not up to the task. Doing so lets the best day of your life ruin the rest of your life as you’ll be saddled with expensive debts.
Love is a beautiful feeling and finally meeting the one who makes your heart soar and beat a little bit faster is a dream come true. You simply can’t wait to tie the knot and let the world know of your love. While that’s all nice and dandy, going full out when planning a wedding has one undesirable side effect.
Your finances might take a beating and ruin your dream of owning a home. You will have a hard time getting the best mortgage rate in Salt Lake City if you are carrying too much debt and your credit score is too low. City Creek Mortgage cites some of the worst mistakes to avoid.
Going for a royal wedding
Sure, your wedding is a once in a lifetime affair and you do want to create beautiful memories that last forever. There’s no denying that’s a noble objective, but hinging the entire experience on the cost is missing the point. A huge wedding can cost you $35,000 to pull off, which is a good thing if you have the money.
If your purse is lean, you can have one for less than $5,000. Instead of focusing on having expensive menu items, look for a creative way to enhance the experience. Making the experience count creates beautiful memories and is easy on your wallet.
Forgetting that life goes on after a wedding
While the idea sounds romantic and all, hosting a ball for your wedding is a costly affair. Some people commit to the idea of having a dream wedding at the expense of their future. Draining all your savings and going into debt to finance your special day takes a toll later and might indeed dull the sparkle.
Struggling with a snowballing credit card debt two years down the line is bound to ruin any memories you have of that day.
Your wedding is supposed to be the happiest day of your life and many people strive to make it so. Avoid these mistakes to ensure a successful and fruitful life after the wedding.