- 3 years ago
I’m the type of person who doesn’t like having debt. I bought a new car in 2009 and took out a loan. I changed my mind about having a loan… so I ended up paying it off in 8 months. I’m a little nutty when it comes to debt.
Now I’m a full time student and I don’t work. I can’t take up a part time job until April because I’m living overseas without a visa and thus unable to work. I saved up a lot of money beforehand and came up with an “in school” monthly budget for myself in order to pay for rent/living expenses until I graduate.
Well that time is soon (this Summer), and our wedding is tentatively planned for May 2015. Again, because I am nutty, every single month that I’ve come “under budget” I’ve taken the extra cash and put it towards my student loans that I’ve taken out. Right now, of the $20,000 I’ve taken out in student loans, I only owe less than $10k. I don’t even have loan payments yet because I’m still in school, this is what I’ve paid during my enrollment.
Anyway- My SO is going to be going to grad school once I finish in a few months, which means I’ll be paying for the wedding myself.
I can’t help but think– OMG WHAT HAVE I DONE? I could have saved the cash that I had and paid for the wedding instead of paying off my really really low interest student loans. I have about 18 months to save for a wedding, and I don’t know how I’m going to do it. Considering that 5 of those months I won’t be working, I only really have 13 months to save. I keep telling myself these things- I won’t have student loan payments until 6 months after I graduate. I don’t have any car payments or any other form of debt. But then I look at the numbers– I’ll need to save about $1000/month to pay for the wedding. That may not be a big deal for some, but I’m just starting my new career, so my salary expectations are not amazing.
So, how do you actually pay for it? Did you just pay for things as they came up? Did you set up payment plans with your venue? Borrow from family? Take out a loan?
My parents aren’t going to help because they took out a loan to pay for their wedding and think we should do the same. His parents won’t help either because they don’t “believe in marriage.” Another point- I’d be happy with a very small intimate wedding, but my SO wants the glitz and glamor. Including the honeymoon, I’m trying to keep the budget between 10-14K and Under 90 guests.
I’m not expecting anyone to solve my problem, but if you could explain how you did it, that would be helpful.