How to Get Out of Debt — Even During Wedding SeasonAug 30, 2017
Debt problems shouldn’t hold you back from celebrating the union of friends, but they shouldn’t be ignored either. How do you stick to your financial goals during wedding season — especially if one of your goals is to get out of debt?
There’s a lot of talk around how much a wedding costs for the bride and groom these days, but what may surprise you is how much guests are spending. You might be wondering…when is it okay to say no to a wedding invitation? What steps can you take — during wedding season and all year long — to solve your debt problems?
Set a budget and stick to it.
Attending a wedding can be expensive. Costs go up even more to attend a destination wedding, or if you’re asked to be a bridesmaid or groomsman.
A solid budget will help you stay true to your debt relief goals. There are all kinds of useful resources online that can help you build an effective budget, including money management apps, like how-to articles this one from the Financial Consumer Agency of Canada) and budget spreadsheets like this one from personal finance blogger Jessica Moorhouse.
If participating in the wedding will push you over that budget, it’s okay to say no. Be polite and honest about your reasons to the bride and groom and most likely they’ll understand or may make adjustments so you’re able to participate.
Build your financial literacy.
Understanding money, finances, debt and debt relief options is crucial to helping you make informed decisions when it comes to tackling debt problems. You might even discover some useful tips that can help the bride and groom save money on their own wedding, which can be a great gift in itself!
Find ways to be a wedding guest on a budget.
From recycling outfits to sharing the cost of a gift with others, there are many opportunities for you to cut down on the expenses of attending a wedding. All of these mean less money is getting spent leaving you with an opportunity to put it towards tackling debt problems. By maintaining your focus on your debt relief goals, you’re making it easier for you when wedding season rolls around next year.
Much like planning and paying for a wedding, getting out of debt problems takes hard work. Once you find your own solution for how to get out of debt, stick to it. You can be celebrating with friends, while you’re also celebrating the success of achieving your debt reduction goals!
Do you have trouble sticking to your budget during wedding season? Share your challenges. #DebtSolutions #weddings.