Should An Auto Title Loan Be Part Of Your “Big Day”?

Planning a wedding can be exciting, scary, stressful and educational. It can also be very expensive! How far do you go to achieve wedding day bliss? Should you borrow on a credit car? Should an auto title loan be a part of your big day? Making wise choices about your finances starts with your wedding. Going into a marriage with the same ideals about money will only make the relationship between you, your spouse, and your money better.

Aside from making the commitment to spend the rest of your life with the one you love, deciding on a budget is the first step in the journey of planning your wedding. The question for some is “How do I create a realistic wedding budget?” The average cost of a wedding these days is $25,000 but that number is not realistic for everyone. Looking at your finances and setting a realistic budget will ensure you and your fiance’ start the rest of your life together without financial and marital mayhem.

The first step to forming a budget is knowing how much you can afford to spend on your big day. Once you have that number you can start plugging in costs and determining how much you will spend on everything. The key to sticking to your budget is to BE FLEXIBLE! The tighter your budget is the more you need to keep this in mind. It’s doesn’t mean your day of celebration is not going to be exactly how you want it. Deciding what is most important to you is key. A rockin’ DJ who will keep your guests dancing and the day flowing may be more important than how many flowers are on the tables. If that’s the case, consider spending less with florist while giving yourself more room to spend on your “master of ceremonies”.

Keep in mind that a smaller budget means a smaller guest list. You guest list dictates a great deal of how much you will spend on food, beverages, wedding favors, etc. The average cost per guest is about $100 which means you may need to reconsider inviting that long lost relative or college buddy that you haven’t seen in several years. This day is about being surrounding by those you are close too; with whom you want to share your special day. Start with an A list of close friends and immediate family. Then make a B list of distant family and friends. Lastly, construct a C list of those you haven’t seen in a long time.You can send invitations to your A list and as the RSVP’s start trickling in, you can pull from lists B and C to invite other guests.

Utilizing a wedding planner/organizer will help you stay organized (whether you are naturally or not) by giving you a place to sort your receipts by category, design ideas, collect samples, manage vendors and consultation dates and keep track of gifts and thank you notes. You will be able to adhere to your budget when you can see where your money is going.

Consider hiring a wedding coordinator. This may sound like something you shouldn’t do when on a tight budget but it’s actually the opposite. Experienced wedding coordinators are there to help you plan your wedding based on your budget. They have their own list of vendors and already know what each one charges for their services. A wedding coordinator will can utilize their discount for things like dance floor and chair rentals as well as having plenty of ideas on decorations, cakes and caterers. There will be cost to hire a coordinator but it just may save you money in the long run!

Last but not least… don’t go overboard! Getting “caught up in the moment” happens for many excited couples during the wedding planning process so staying realistic is a must! Your big day should not equal big debt! Try and avoid taking out credit or loans to pay for your wedding. If you are considering taking out an auto title loan to help cover costs make sure you are able to repay your loan in the allotted amount of time to avoid having interest and fees tacked onto what you already owe.