Wedding Planning During the
Recession: What Happens if You Get
Laid Off?
If you've been laid off or fired while planning a wedding, your stress levels probably go
through the roof. The US recession and generally terrible state of the world’s economy
has many people questioning their future plans. But getting married isn’t some indulgent
vacation – it’s an important ritual and milestone of your life. If you’ve been laid off, or
you’re worrying about the potential of future unemployment, you might be thinking
about postponing or canceling your wedding. Even if you’re sure about going ahead,
you’re probably wondering how everything’s going to get paid for.
Before you panic and cancel the wedding, here are some ways to make your wedding
work in spite of the economy.
THINK ABOUT WHERE YOU CAN CUT WEDDING COSTS
Of course, the most obvious solution is to just have a cheaper wedding dress . But since
that’s easier said than done, read Cutting dress Costs and Cheap Wedding Fridays Tips.
OUTLINE WHAT ABOUT A WEDDING IS MOST IMPORTANT
TO YOU
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.
LOOK INTO WEDDING INSURANCE
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.
MAKE SURE YOU KNOW YOUR VENDORS’ CANCELATION
POLICIES
Before you sign a contract with a photographer, caterer, or other formal
dress and Mother of the Bride Dresses designer, 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.
see also:
WEDDING RECEPTION DOS AND DON’TS
HOW TO GET THE CHEAP WEDDING DRESSES
WEDDING PARTY DRESSING TIPS