5 Ways to Keep Your Wedding from Breaking the Bank

By Dave Ramsey

Published: August 10, 2009

From engagement parties to bridal showers to wedding dresses to photography and flowers, weddings can quickly spiral out of control when it comes to money. Today the average wedding costs more than $26,000, making it easily one of the costliest milestones a couple will encounter.

Too many couples get caught up with the "dream wedding" concept and end up thousands of dollars in debt. By starting your marriage off on the right financial foot, you will avoid a lot of heartaches and arguments.

If you're one of the thousands of couples planning on getting married in the near future (or if you were recently married), here are a few tips on how to ease some of the financial stresses that a wedding and a marriage can bring.

1. Talk - No Secrets Allowed!
Discuss what each of you is bringing to the table in the financial arena. Be very open and honest with one another about your dollars. When it comes to money, never keep secrets. Your future spouse needs to know what kind of financial commitments you have.

2. Create a Budget
Once you have talked about where each of you stands financially, the next step is to create a budget. Sit down together and make two budgets, one for your wedding, and one for life after your wedding. Knowing where all your money is going will ease a lot of unnecessary stress and worry. Plus, this will unite the two of you because you will be setting goals together.

3. Set Limits - Practice Saying "No"
You must refuse to go into debt for your wedding; it's just not worth it. The average cost of a wedding rises each year, so review your wedding budget often and practice saying "no" to the things that don't work. You may have certain wants for your wedding, but always ask yourself if they are realistic for your budget. Allow yourself to dream about your wedding and then find ways to make those dreams a financial reality. If it doesn't fit in the budget, then you have to say "No!"

4. Be Realistic
Just remember that you're planning for a wedding - which is the beginning of your marriage. The wedding is not the "be all and end all" of your lives together, so you need to keep your priorities in check. Too often, couples anxiously await the wedding day and don't put any thought into what comes after the wedding- the marriage! Plan ahead by getting on the same page with money and setting financial goals together. The wedding is great, but that's only the beginning.

5. Go through Financial Peace University
Dave Ramsey's Financial Peace University program will change your life! Start your marriage off right by discussing the topics in the class together! You will learn how to get rid of debt, figure out what types of insurance you need and how to plan for your future so you can retire a millionaire. Hundreds of thousands of families have benefited from the program, which teaches couples to communicate about money, something that few couples do often enough.

Dave Ramsey is a personal money management expert, an extremely popular national radio personality and best-selling author of The Total Money Makeover. Dave is changing the face of America by helping people get out of debt and build wealth.

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