Marraige

Whether you are getting married on a shoe string or with no expense spared, our tips will help you manage your finances closely so you can keep track of your spending and avoid paying for your big day for years to come.

Budget

The first thing you should do is sit down with your partner and discuss what both of you may have already saved and what you can afford to put aside on a regular basis up until your wedding day. This will help you set a realistic budget and priorities for your wedding day.

Keep track of your ongoing spending

Once you know how much you can afford to spend on your wedding, create a budget plan. It gives you a breakdown of items you will spend money on and helps you to figure out if your plans are within your overall budget. If not, you can reduce your spending in certain areas until you have an overall plan for your wedding.

Get the best value loan if you need one

Even with your savings you still might need to borrow some money. Establish how much you need and  how much it will cost plus how long it might take to repay a loan, depending on the amount you want to borrow. Borrowing money comes at a cost as you will have to pay interest back on the money you have borrowed. Check the latest offered by the main providers in Ireland, this will help you get the best deal. If you have to borrow to help pay for your wedding, try not spread the payments too far into the future. This will cost you more in interest and could affect your future plans.

Insurance cover if things go wrong

Unfortunately, when planning your wedding there are some things that can go wrong - such as cancellation or failure of traders to deliver a service. You may want to consider wedding insurance to cover you from any financial loss as a result of unexpected events. Many insurance providers offer wedding insurance so compare what each policy covers and the charges, as they will differ.

Use your credit card for large purchases and deposits

Paying by credit card instead of cash or cheque offers you some protection, in the event a firm goes bust – such as your hotel or bridal shop. If you pay by credit card your card provider may reverse the transaction, depending on the circumstances and the type of card you have. This is called chargeback

Buy travel insurance for your honeymoon

It is important you take out travel insurance to cover you against any losses, such as illness or injury, damaged or delayed luggage, cancelled flights, delayed or missed departure and loss or theft of money or passport. Always check the policy details before you buy, so you don’t duplicate cover you may already have with any other policies such as your health insurance. See www.insuranceservicesireland.com