A friend of mine recently got engaged and as she begins planning her wedding, she asks me questions here and there. And her most recent question for me was one that applies to every single one of you as you plan for your big day. It applies to every single vendor you book, every step of the way!
And so, I knew this was a great topic for today!
Should I pay for my wedding using cash or credit?
If you and your fiance are paying for the wedding, his parents are paying, your parents are paying, or whomever is hosting this event, this applies to you! I mean, someone has to pay somehow, right?? So even if you aren't personally the one forking out the big bucks, keep your ears open because knowing the do's and don'ts of paying for your wedding will at least be a small step in thanking the person who is!
To start out, there is not really a right or wrong answer to this question. There are benefits to both, but it depends on who you choose as your vendors! Some vendors may not accept cash and some may not accept credit. And some will just charge you more if you pay in credit.
So the first step in figuring out the best answer for you is to ASK.
Ask each and every vendor about payments and make sure you keep all options in mind!
Paying in Cash
The first question to ask a vendor is whether or not they offer a discounted rate if you pay in cash. Never will a vendor discount for paying in credit, so start with this one first! Of course, if you have the funds to pay in cash :)
Paying in Full
The second question to ask your chosen vendor is whether or not they will discount if you pay in full. Some will and some won't, and many may never have thought about it before! But just ASK - what's the worst that can happen?
Paying in Credit
Now there are two options when it comes to credit. First, make sure the vendor is not going to up-charge you for paying in credit and if not, you have some options:
1. Pay using an airline rewards credit card - This will help you get some miles for an upcoming trip...maybe the honeymoon? Just make sure to research which airlines you would like to fly on for your chosen destination, so you can put those points to good use!
2. Pay using a rewards credit card - Many banks offer credit cards that give a percentage back to you, based on the purchases you make. So in your case, you could potentially get anywhere from 1-3% back on your purchases which will definitely add up to a decent chunk of change!
Quick Tip for Cash Payers
And finally, the best way for you to stay within your designated budget (if you are paying all in cash) is to set up a debit card designated only for the wedding. That way, you can easily keep track of everything and don't have to keep asking dad for his credit card number!
Whatever you decide to do, just make sure you explore all options before putting your deposits down for each vendor. Because the more you know, the more you can potentially save!