Weddings in a Time of Financial Uncertainty
Tuesday, November 11th, 2008[If you are interested in finding out more about our digital camera hire service please contact us.]
Brides and Grooms planning a wedding in Australia this year might be excused for being a little confused on the financial side of things. Early in the year we were told to expect interest rate rises to dampen inflation, which would have worried those planning to borrow to cover their wedding expenses. But as the year has unfolded and the global financial crisis has hit, interest rates appear to be beginning a downward trend. While theoretically this makes the decision to borrow more palatable, growing fears of a recession and job losses provide added reasons to exercise caution when deciding to borrow. As if planning a wedding wasn’t stressful enough!
Despite the stories of financial doom and gloom that dominate the nightly news, there are a few golden rules about planning weddings that remain true, regardless of what’s going on around us. And if you stick to these rules, no matter what’s happening at the national or international level, you should be able to avoid your own wedding-related financial crisis.
First of all, decide on a budget and stick to it. It’s easy to go over the top with weddings, in light of the fairytale images and emotional investments that surround them. But beautiful and meaningful weddings don’t have to cost the earth. Have a cold hard look at your own finances and what you can realistically afford to spend – especially if you are planning to borrow to fund the big day. The last thing you want to do is to dampen the period of post-wedding bliss with concerns about how to meet new financial obligations.
Once you have decided on a budget and enter the planning phase, give yourself the time and space to shop around to find good deals on the services you’ll be paying for (such as venues, cars and accommodation). Attending a couple of bridal expos is a great way to see what’s on offer and to compare service providers – and to find excellent special deals that could save you lots!
And finally, think about alternative ways of achieving what you want on the day. For example, if an official photographer is beyond your budget, why not consider hiring digital cameras for your guests and a memory card copier to capture all of the photos that your friends take on their personal digital cameras (www.myfriendsphotos.com.au).
It’s easy to get caught up in concerns about the state of the economy and how it might impact on our own personal plans. But thinking clearly about your own financial situation and making sensible planning and purchasing decisions will ensure that the doom and gloom that currently surrounds us doesn’t impact on the joy of planning your big day.
If you are interested in finding out more about our digital camera hire service please contact us.
1300 307 828