(Closed) Paying Vendors Ahead of Time – Stupid Idea???

posted 7 years ago in Money
Post # 3
Member
612 posts
Busy bee
  • Wedding: August 2010

If you have the money now, just set it aside. DO NOT PAY FOR SERVICES AHEAD OF TIME! I learned this lesson the hard way with a contractor. I am out $10k and still have an unfinished room. Lawsuit pending. 🙁

Post # 4
Member
2682 posts
Sugar bee

Most vendors will require a deposit and the balance to be paid a certain amount of days before the wedding (mine ranged from 3 days-1 month before)  I would pay your vendors the deposit requested and then wait until your balance is due to pay the rest.  At the very least I would pay all or most balances a few days before your wedding so you dont have to worry about it DURING your wedding.

Post # 5
Member
177 posts
Blushing bee
  • Wedding: October 2010

if you have the money now and are afraid of spending it but also don’t want to pay your vendors yet, put it in a 3 month CD – it’s safe and you’ll earn a little money while it’s in there. plus you won’t be tempted to spend it. if you’re afraid of not being able to access it in case of an emergency without a penalty, why don’t you look into an ING account. i came into some money and am afraid to “$20” myself broke (meaning, oh $20 here, $20 there then poof! broke again) so i put some in a 6 month CD and some into my ING savings account.  the ING is linked to my regular checking so if needed i can withdraw it or if i’m able to add to it. 

Post # 6
Member
516 posts
Busy bee
  • Wedding: November 2010

I wouldn’t pay any closer than a few days before the wedding. There is a lot of risk in that 🙂

If anything pay a good amount- but not all of it.

Post # 7
Member
124 posts
Blushing bee
  • Wedding: May 2010

I am paying all of it before hand. Call me stupid, but I am going to trust my vendors and pay them entirely before the wedding day. I am doing this for the florist, photographer, video and music. I do say, I am trusting that you will be there on my wedding day. and will do a good job. I hope I don’t have to write in after the wedding and say that it was a bad idea. I just don’t want to have to deal with any $ on the wedding day or trust someone in the wedding party to do it (after drinking, etc.) Do you take a vendor to court if they don’t show up?

Post # 8
Member
198 posts
Blushing bee
  • Wedding: October 2009

Most vendors require final payment before the wedding (our’s required them 1-2 weeks before the wedding). There really isn’t much need to pay them sooner than that.

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