Choosing the right budget for your engagement and wedding can be overwhelming. Between the engagement ring, wedding dress, venue and catering, you may feel stressed about your financial situation and need a plan. Creating a detailed budget for your engagement ring and wedding will help you find ways to save money while making your wedding extra special. At Mark’s Diamonds, we’re here to help you plan your budget and save money. Here are some tips on how to finance your wedding and engagement.
Budgeting for Your Engagement Ring
If you are on a tight budget but want to propose to your significant other, it can be difficult to find the perfect ring at the right price. For many, saving for an engagement ring is difficult, which is why budgeting for the perfect engagement ring is so important. Here are a few ways you can save money and budget for a ring while staying true to your partner’s style:
- Thoroughly look through all your expenses such as gas, groceries, shopping or utilities and see if there’s anywhere you can save money.
- Depending on your situation, discuss different ring styles with your partner to make sure you can accurately plan your budget to buy the perfect ring.
- Start saving small amounts of money each month to prepare for purchasing the ring. This strategy prevents you from spending too much money on a ring that does not match your partner’s style.
- Talk with your jewelry specialist about setting up a payment plan for your engagement ring. At Mark’s, we offer financial planning to help you stay on track.
Financial Planning for Your Wedding
Having the perfect wedding can cause a lot of stress and put you and your partner under pressure. Wedding expenses can easily add up quickly and put you in debt. According to a survey, the average American wedding costs over $30,000 and that doesn’t include engagement or honeymoon expenses. Luckily, there are ways to financially plan your wedding and have it be exactly what you and your partner want. The first step is to discuss the type of wedding you want. Deciding if you want a traditional church wedding, a casual ceremony on the beach or something else will help you determine a lot of other expenses such as venue and design. Choosing your wedding type will also allow you to figure your guest list and food expenses. The next step is to divide up your budget into categories to help prioritize your spending. Categories can be broken down by ceremony, reception, clothes, event planners and musicians. If relatives are helping you finance your wedding, consider dividing up expenses based on their wishes. Once you prioritize your spending, you can also discuss which aspects can be negotiated if you start to go over budget.
If you are on a tight budget for your wedding, there are a few easy ways to save money for your big day:
- Have your ceremony or reception at home or a relative’s home.
- Rent or buy clothing secondhand.
- Keep the guest list reserved for family and close friends.
- DIY decorations and flower arrangements.
- Keep the food and beverage menu limited.
- Prepare a food menu instead of catering.
- Eloping or having a City Hall ceremony.
These tips will help you save money while also helping your wedding to feel more personal and representative of your style. It will also allow you to have more control over your wedding to make sure everything goes smoothly.
Financing Options at Mark’s Diamonds
In addition to providing you with the highest quality diamonds and ring settings, our experts at Mark’s can also help you save money. If you’re a would-be bride or groom on a budget, Mark’s Diamonds can assist you with financial planning for your wedding and jewelry. If you want to save up for the perfect engagement ring, we offer an interest-free layaway option so you can plan ahead. We also offer a six-month interest-free loan program through Wells Fargo that can be used for any piece of jewelry. Whether you are looking for an engagement ring, anniversary gift or wedding band, we can help you find the perfect piece of jewelry at the right price. If you have questions about jewelry financing options, contact us today on our website or visit our Denver showroom by appointment. If you want to maintain social distancing, feel free to give us a call or schedule a virtual meeting with any of our experts. At Mark’s Diamonds, we strive to provide a customer-driven experience that highlights our passion and dedication to jewelry.Book your appointment with us today!