Are you planning a wedding? Congratulations! Unfortunately, it can be expensive and stressful to plan a wedding. You have to choose a venue, craft your guest list, find a photographer, a caterer, and most importantly, find a dress! You require simple, practical personal finance management skills to spend wisely on these items. This helps you create a unique, memorable, stylish occasion without breaking the bank. Keep reading for other practical money-saving tips when planning your wedding.

Hire a Planner

An event planner helps you do the homework. For instance, relying on your bridal party or family members to clean up after a wedding would be unwise. According to Thimble, cleaning services typically cost about $150 per job. So, your event planner can help you pick the best cleaning service with the experience and abilities to do the task effectively.

Additionally, specific vendors can provide their pricing, but an event planner helps you understand the overall budget and how to allocate money appropriately. Rather than swimming in a sea of options, an event planner can save money and time by narrowing the list to quality, proven vendors that fit your budget. They understand your event’s budget and priorities. That’s why they recommend areas to cut costs without sacrificing the overall look or quality of the ceremony.

Trim Your Menu

You can whittle down your menu budget by inviting fewer guests or changing what they’ll eat. Most couples prefer sit-down dinners, but buffet-style service has increased in popularity over the last decades. However, sit-down dinners can be even stuffy or overly formal.

Formal is fine if you’re planning for a black-tie event, but the confines of a three-course dish may not work for a more relaxed ceremony. Here are tips to save money on catering.

• Offer cocktails and passed apps instead of a full meal.
• Bring in food trucks and give your guests tickets to use at each vendor.
• Schedule a brunch reception or breakfast instead of dinner.
• Instead of an open bar, limit alcohol to a few types of wine, beer, and liquor, or stick with two signature cocktails.
• Have a theme that embraces affordable food options like taco Tuesday, BBQ, picnic-style reception, summer fun, or comfort food (cheese, macaroni, mashed potatoes, or fried chicken).

Go Paperless

Cutting down on your wedding paper can save you a few bucks and significantly impact the environment. Remember, paper is one of the most recycled materials, according to Reader’s Digest. This minimizes wastage and conserves the environment. Plus, skipping paper invitations can save you money if you have a lot of guests. That price can increase once you add escort cards, menus, place cards, ceremony programs, etc.

In line with invitations, you might reduce your usage by opting for digital invitations from a site that offers wedding-website hosting. This helps you collect RSVPs through an integrated system.

Timing

When considering your budget, it helps to be mindful of time and dates. There is nothing wrong with picking a popular wedding date because they’re popular for good reasons. For example, historically mild temperatures, great weather, and during times when guest travel most.

Consider these factors before selecting a date. How long do you intend to plan till the wedding? Is the date appealing to your guests? Usually, venues and vendors are fully booked on popular days.

So, if your budget is tight, consider choosing alternative dates, as some venues provide weekday or off-season discounts. Selecting the time of the event is an essential consideration too. For example, a daytime brunch ceremony with light mimosas and bites is more affordable than an evening wedding where your guest expect to be served dinner with a sumptuous meal and drink options.

Budget for the Worst-Case Scenario

Your wedding is supposed to be the most unique, refined, and memorable day. But an accident after the reception can sour the sweetest wedding memories. According to CDC statistics, nearly 1.8% of California’s licensed drivers admit to DUI charges due to too much drinking.

So, hope for the best but budget for the worst. Create a weather contingency plan and cost into your budget. In case of a best-case scenario, the unspent funds stay in your pocket! If an issue strikes abruptly, it won’t be a surprise expense that unexpectedly breaks the bank.

Hopefully, these practical personal finance management tips for your wedding have been valuable and inspirational. Implement them to save cash on your big day and use it for the lifetime of new happiness that awaits you as newlyweds.

Divorce directly impacts your finances as coping with money issues after divorce is challenging as individuals try to rebuild their lives. Some of the steps a person should take immediately to get back on track include making plans to deal with debts that your divorce left you with, considering how divorce will affect your health insurance and taxes, and setting new financial goals. Below is a guide to handling post-divorce financial debt.

Rework Your Budget to Adjust to the New Financial Situation

Divorce can mean that a person has more expenses to pay with less income. A person has to solely contribute to the household and to all the debts. Ensure your budget fits your new financial reality to minimize financial disaster due to old spending habits. You have to figure out the amount of disposable income you will have post-divorce to pay for essential expenses. Make significant changes to your home if you do not have enough cash to maintain the current standard of living while saving for retirement and staying out of debt. Consider updating your home heating and cooling units to save on future repairs, downsizing, or even using medium-colored draperies with white plastic backings, as they reduce heat gains by almost 33%.

Make Plans to Deal With Debts

Divorce leaves a person in debt due to legal bills and associated costs of ending the union. Apply proactive plans to deal with such obligations as soon as possible by refinancing your debt. A personal loan or a balance transfer may help you minimize the interest you are paying on the debt if the attorney’s bill is put on a credit card with a high-interest rate. Work out your budget and send extra payments to get back on track financially and keep the total costs down. A spouse who offers 50% of child support may claim tax exemption.

Work on Building Credit in Your Name If You Do Not Have it Already

A person needs to develop their credit history as soon as possible if there are no loans or credit cards in their name during their marriage. A good credit score is required when buying or renting a home, buying a vehicle, and applying for future loans. People who have not obtained credit in the past may experience difficulties when seeking approval to borrow from a past divorce. To access credit, you have to build it in the first place to prove that you can borrow and pay it back responsibly. If your former spouse is listed on the credit card account, request the removal of their name so they cannot continue using the funds. Spouses listed on joint accounts with their former spouses should include whoever is responsible for paying them. Talk to your divorce lawyer about this facet of cutting ties with your former spouse and about getting rid of financial assets that are a waste of money. Boats, collectibles, properties, and particularly timeshares are often undesirable following a divorce. With timeshares, in particular, 41% of buyers regretted their purchase in the first place, while 30% of neutral individuals purchasing regretted their decision afterward.

Explore Health Insurance Options

Explore various options for securing a cover of your own if you previously obtained health insurance through your ex. Secure a plan with subsidies to cater to your premiums, and consider signing up for an employer plan where you work. People covering their exes should take them off their policy to avoid being stuck while subsidizing their healthcare costs. Ensure there is no gap in the coverage for you and your kids, as one injury or minor illness may further exacerbate post-divorce financial issues.

Set Some New Financial Goals

Set financial goals now that you are on your own and take the required actions to achieve them. Think about saving up an emergency fund and retirement savings, since you do not have a partner to rely on if something goes wrong. Consider setting fun goals, including saving for a vacation, and be as specific as possible while setting such goals. Start with the essentials, including ways to rebuild your emergency savings and become free of the divorce debt and consider working on your budget to meet your objectives.

Look For Ways to Increase Income

Increasing your income sources is helpful when paying for divorce-associated debt and when dealing with a downsized budget. Look for additional ways to learn new skills and consider picking up a side gig. The extra cash allows you to overcome financial struggles and become financially stable post-divorce.

Request For Assistance If You Need It

People who are unsure where to start regarding their financial life should consider talking with a financial planner to establish a post-divorce financial plan. Seek legal assistance to help you recover unpaid child support if your ex does not pay. Make use of all the available resources to rebuild your financial life.

Rebuilding financial life may seem like a daunting task at times, but it is doable. Follow the listed steps to establish a bright post-divorce future that you look forward to.