Should You Pay for Your Own Wedding? – LIFESTYLE BY PS icon

Should You Pay for Your Own Wedding?

When you're getting ready to walk down the aisle, it's not uncommon for parents and in-laws to chip in. Some may even offer to pay the entire cost of your nuptials, but that can feel off-putting for many grooms. You want to provide for your future spouse, and since this is a decision you've both made together, it only makes sense that you want to pay for it together, too. Sharing the cost of your wedding can be one of the first major financial things you do as a married couple. It's as literal as it is symbolic, and it represents the first of many major investments you'll make together.

How Much Money Should Your Parents Put In?

Ultimately, the decision of how much is too much will come down to what you and your partner are most comfortable with. If one of you is okay with taking way more than the other, don't argue about it. This is perfect practice for married life where you'll be faced with finding healthy balance and compromise all the time. If your parents want to offer a large sum that makes you uncomfortable, then ask them to make one that's smaller. Rather than reject them outright, give them a way to contribute that still feels meaningful without crossing your boundaries. You are their son, after all, so giving money toward your wedding is their way of providing for you in this new chapter of life.

How to Pay for a Wedding Without Going into Debt

Americans spend a lot of money getting married, and depending on what theme suits your personality, the costs can really add up. When you think about dropping $30,000 to $100,000 or more on a single event, it can boggle your mind. That's more than you need to get your first mortgage. Rather than going all-out because you only get married once, think about where you can invest those funds elsewhere.

Lower Your Monthly Expenses a Year Before the Big Day

Anything that drains money from your bank account should be scrutinously analyzed for its ultimate value. If it doesn't bring any money back, then it's liable to be cut from your budget. A gym membership you only use a few times a year, that Netflix package you forgot about and even Amazon Prime may be worth less than you're paying. You can also look at more long-term, serious debts like student loans. Refinancing with a private lender can help you cut your bills and save hundreds. The best part is you get to keep saving even after you've tied the knot.

Meet Your Partner Halfway

Each of you should identify the three major splurges you'll have for your wedding. This could be their dress or suit, the venue and food. Once you have those three locked down, it will be easier to be more flexible on less important things, like napkins or furniture. Rather than bickering over silly little things, you and your partner can focus on the things that are most meaningful to you both. This makes the planning process more of a bonding moment than burden.

Look for Rentals and Bundles

You can rent a tux, furniture and even glassware for your event that can save thousands. There are also venues that offer packages of various sizes for couples who want to save on their wedding package. Explore all of them in-depth with your partner, and don't feel bad for not wanting to fork over hundreds of dollars for something you'll probably barely even notice on your wedding day.