Monday, February 11, 2019

Wedding Committee, personal savings or wedding loans

Image from Google search

How did you finance your wedding? How will you finance your upcoming wedding? That's a topic I'd like to tackle today. Many people have great ideas but how do you embark on financing the various aspects of your wedding.....

Image from Google search

If you decide to go the wedding committee way, there are a few things to consider that can help save on cash or basically the expenses involved in organizing a large committee. First: many people are busy today and have a schedule that might not be suitable to them attending meetings in town weekly. How about you use technology to your advantage? You could form a whatsapp group, add everyone that might be of help to you in raising the money, open a paybill account in safaricom and have people send money to it.

Second, I'm of the opinion it's your work to source for vendors, interview and select your choices. In the past, the committee would help you with that, now that life is busy for more people it's best you do your own work and update people online on the progress. Third, please be sensitive. Its your wedding and expenses are all yours. Its expensive raising cash with budgets that keep going up. If the committee raises for you 40% of the cash, find a way as the wedding couple along with your parents or close family to fill up the 60% or alternatively, adjust the budget to meet the amount raised.

The most ideal way to raise money for a wedding would be personal savings. Two people dating and planning to get married should slowly start keeping savings aside for the big day and honeymoon. Many places and wedding vendors allow that you can pay a deposit way in advance, build monthly payments and by the time the wedding month is approaching the amount left to pay is a fraction that is not overwhelming to clear. This way, it's less pressure on family and guests when they chip in last minute. Few people go this route however. It can either be due to lack of stable income, no saving culture exists for both couples or even reasons best known to the couple.

Finally, it's easy to get loans from kenya today. Its not only banks that can issue loans. There are many organizations that do this through mobile apps. Just make sure you both have an impressive credit history to be able to get from as many sources as possible. This can help those who might not have friends, that can even help you reach half your budget and the cash you have raised is minimal still needing more money to finance your big day.

After all is said and done, how much debt and strain would one want to go through  just to finance a wedding? That's a question that only the couple can respond to well and choose to live by the outcome of their choice.

1 comment:

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