How To Plan Your Wedding In A Recession

The recession is here and the general prospect of world economy gloomy. Is the economy forcing you to reconsider your future plans? well, the economy may suck but remember that your wedding is not some fancy vacation, it's a very meaningful ritual and a lifetime milestone.

If you've lost your job or are unsure about future employment prospect, then you may be considering postponing or even canceling your wedding, but before you take such drastic steps, read on to find some insightful ideas on how to make your wedding a success no matter the odds.

Outline What's More Important To You In A Wedding

If you haven't already filled out the newly engaged questionnaire, now is a good time. This will help you see if it's possible to cut costs while still having the elements that are most important to you.

Do you want a fancy event with fewer people? Or would you rather have a very simple event that everyone you know can be at? If both are equally important to you, consider if having the wedding of your dreams is more important than getting married soon. In that case, maybe postponing the wedding would be a good idea.

Consider Having a Two-Tiered Event

If you don't have the money for a lavish wedding, maybe you want to elope, or have a very modest wedding reception now while planning for a bigger event later on. It could just mean waiting until your jobs are more stable, or planning to renew your wedding vows on an important future anniversary.

Wedding Insurance is Important

If you still have your job, but are worried about losing it and thus not being able to afford the wedding, wedding insurance might be a good option. But be careful: Many policies don't cover unemployment, and others are very expensive. Make sure it's a wise financial decision for you.

Read and Understand Your Vendors Cancellation Policies

Before you sign a contract with a photographer, caterer, or other wedding vendor, make sure you know what their cancellation policies are. Know whether you can get back all or part of your deposit if you cancel before a certain date. Some vendors will only charge you a small fee for postponing, as long as you book them for a future date.

If you've already signed contracts, go back and read the fine print. If it's still before the cancellation date, it might make more sense to cancel or postpone now, rather than waiting to see what happens. And, if your money is already non-refundable, you may want to go ahead with the wedding in spite of money worries.

What You Shouldn't Do

Spend Your Wedding Gifts

If there is any chance that you might have to cancel the wedding or indefinitely postpone it, don't use any already received cash wedding gifts. Though it's tempting to spend cash when you have it in hand, especially when there's not another ready source of income, this is not a wise financial decision. Etiquette says that you should return all wedding gifts, and if you've already spent it, that will be very difficult to do.

Charge The Whole Wedding

Putting your wedding expenses on a credit card and not worrying about the expense until later may seem appealing at first. But unfortunately, later will come sooner than you think. Most likely, you'll be dealing with those bills and their high rates of interest long before your economic situation improves significantly.