Ways to Use Credit Cards to Help With Wedding Costs

According to recent surveys, individuals are now spending a lot less money on their weddings than they ever did before. Even with this more conscientious spending mentality, your dream ceremony can cost you a significant amount of money. The large number of expenses involved with a wedding makes it difficult to save up that money. This is especially true if you are hoping to wed in the near future. The most common tendency in these instances is to turn towards a card to help with the payments.

Now, most people have had a rather negative experience charging large expenses to their credit cards. Many individuals feel that paying for an important occasion such as a wedding is a surefire way to get into credit card debt. For the most part, they would be right. However, there are several ways that you can actually make credit cards work for you. At the very least, you will be able to pay off your charges without incurring a loss. At the most, you may even be able to save some money. Take a look at how to use your card without getting into debt:

Cash Back Cards

Cash back credit cards are exactly what they sound like. For every dollar you spend, you are actually receiving some of that money back. This is why it such a great option for using these cards to pay for your wedding. This way, you will actually be making some of that money back. Thus, you will not be spending as much on your wedding as you initially thought you would have to. Of course, there are a few stipulations involved with such cards. For instance, they can only be used in specific locations and stores. However, as long as you stick to these specified stores, you will be able to receive a portion of your money back. In fact, most credit card companies assure their customers at least a one percent cash back reward.

Zero Interest Cards

Typically, it is not only the charges to the credit card that can drown you, but also the attached interest rates. To make sure that you are not spending any more money than you need to, get a credit card with zero interest. This way, when you are paying the wedding charges off later, you will not have to part with any additional money. Zero interest cards are only for a limited time, however, so you will need to pay off the debt within that period of time. Calculate the costs and choose a credit card that allows you time to pay back the amount. If you have already charged your wedding costs onto your current card, you will be able to transfer the amount to a card that requires zero interest.

Receive Travel Rewards

Even as you are planning and paying for your wedding, you also need to make arrangements for your honeymoon. Depending on where you want to go, you may be looking at some considerable expenses here as well. All you have to do, in this case, is to pay for your honeymoon with your wedding. You can do this by getting a card that offers you travel rewards. Therefore, for each dollar you spend on your wedding with your credit card, you will be awarded a certain number of points. This can be translated into free airplane tickets or even hotel stays. When opting for a travel rewards credit card, make sure that there are no restrictive conditions attached.

These are a few ways to use cards to your own advantage. Remember that while these are helpful tips, you are still going to have to pay off your monthly bill in a timely fashion. This is the only real way to make sure that you avoid accruing debts.

Tips for Merging Finances as Newlyweds

Newlyweds usually think of everything else but finances, and this is understandable. If you haven’t been together for ages, however, it is important to go over financial matters to avoid problems in the future.

Merging Your Finances as a Couple


Debt is the major cause of problems and stress when merging finances. Be honest about your financial situation, especially if you have multiple outstanding balances. Go over all accounts, including car loans, mortgages, consumer loans, credit cards, and so on. List all of your debts and look at interest rates, finance charges, terms, and other details. Then compare your household income with your monthly expenses, including basics, debt servicing, and others to assess your financial situation. If any of you has multiple, excessive debts, look at different options to improve your financial situation. There are different solutions, including debt settlement and consolidation and more.

Joint Accounts

It may be a bit difficult for newlyweds to merge their finances right away but it doesn’t hurt to open a joint account and use it for daily purchases. You may want to develop a monthly budget and then decide on the expenses to meet using the joint account. This can be child care, car maintenance, mortgage payments, gas, electricity, phone, internet, and other utilities, and so on. It is important to discuss whether you will contribute equally or based on your income level and other responsibilities.

Some expenses are fairly constant on a monthly basis – personal money, utilities, insurance coverage, energy, grocery shopping, car payments, and rent. The only exception is unplanned expenses and emergencies. Aim for a balanced budget that allows you to save toward long- and short-term goals. To this, all expenses and purchases, especially big-ticket items, should be planned ahead of time and as best as possible. Discuss your financial goals within a period of 6 months, 1 year, and 10 years, whether it is paying student loans, buying a new car, or saving toward your child’s college education. This way you will be on the same page when you need to make joint decisions and solve problems together.

An Emergency Fund

Emergencies do happen and it pays to have an emergency fund for a rainy day. You may want to open a savings account to meet urgent expenses such as medical bills, utilities, credit card payments, and others. Having an emergency fund can help in between jobs and in other difficult situations. This is especially important if you have small children.

Discussing Finances

Separate finances work just fine if you are still dating but looking down the road, it is best to discuss and merge your finances at least to some extent. Be transparent and learn to communicate on a regular basis. This can be weekly or monthly, depending on the issues to be discussed. If you find it difficult to work out your finances, then it pays to discuss your situation with a financial advisor to make sure you are on the right track.

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