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Frugal Advice
for Nearly-Weds

Getting a Good Start

I've seen the different questions about how to have a "frugal wedding" and have really appreciated the advice. I am getting married in July, and on top of that, we are both college students. Obviously money will be tight. I could really use some tips on how to get an early start at being frugal. I want to have these good habits instilled before I even have a chance to learn otherwise.
Kelly K.

Stay Cautious at First

One of your major living expenses is housing, but getting married can actually help you out here if you are a student. If you live separately, marriage will automatically reduce your costs dramatically as you will go from living in two places to living in one. Choose the least expensive apartment between the two of you to begin your married life in. Eliminate unnecessary or duplicate items by selling them or giving to others with a need for them. Try to resist the urge to upgrade to a bigger, more expensive place unless absolutely necessary. My husband and I spent our first few months of married life in a tiny studio -- talk about togetherness! But we saved a bundle... If you are already living together then you can evaluate your current living situation and think about downgrading to a smaller place, something farther from school (if you will be able to carpool together or use public transit) etc.

Also, check now to see what your university offers in the way of married student housing. Often you can get a nice place for well under market value. There might be a long waiting list -- see if you can get on it before you are actually married. If you can't, think about having a civil ceremony to get the license and then having your "real" wedding later (which you should keep as small as possible).

Most importantly, don't be seduced into spending money to have what others or the media say a newlywed couple "should" have -- an elaborate wedding ceremony, lots of new furniture, a fancy honeymoon are all options, not requirements. Talk with your fiance about your financial goals and expectations before you tie the knot -- your life together will be richer and more fulfilling as a result.
Janet

Track Spending

One of the Tightwad Gazette books suggested that, when you're starting out, keep a notebook of every, single, itty bitty thing you buy for a couple weeks or a month. This will show you what you spend money on, and hopefully will show you where you can cut down, i.e., do you really have to have a soda every day? How much does that cost over a year? Are there less expensive alternatives to a 95-cent 20-oz soda per day. What about buying liters? How about a store brand? Etc. Go Girl!
F.

Don't Start With Debt

Just what you don't need when starting your life together is debt and loans. As my intended and I were on our own and working, we decided to foot as much of the bills ourself. We were not rich by any means, but we knew we could put together a wedding that we could be proud of and afford.

We planned it to our tastes, and to our budget, with no interference from well meaning family members (if you know what I mean). It was not a huge ostentatious event...it was not "what everyone else was doing" it was unique, and it was talked about for months as being beautifully done. It was outdoors, under an arch decorated with large bows and flowers.
Theresa from Wisconsin

Start With Cash and a Budget

My husband and I were in a similar situation and we are now rounding out our first year of marriage. Hopefully, you've been paying cash for as many of the things for your wedding as possible. Including the honeymoon. Many couples put everything on a credit card and spend the first year (or more) of marriage paying off their wedding bills.

Try to sit down together and look at what your expenses will be and try to budget accordingly. Since you both are students, remember to factor in books, tuition, lab fees, etc. If you have student loans you may try to pay the interest as it is accruing while you are in school instead of deferring it until you are out of school. This could cut the time you pay off the loan significantly.

Try to set aside some money each month into a savings account for emergencies. Even $10 a month is a good start.

Be extremely careful about the credit card vendors on campus. The fees and interest rates are usually pretty high or start low and then increase several years later (i.e. when you are out of school, working full time, and can afford to spend more money.) This is a slippery slope. It could pay to get a credit card and establish credit now because it will be the easiest time in your life to qualify for a card. On the other hand, it is way too tempting to use the card for that emergency pizza when it's exam time and you don't have time to cook. You might want to look into getting a Visa debt card through your bank. Every time you use the card the amount is taken from your checking account at the bank. It's impossible to run up a huge balance because if the money isn't in your account, it can't be spent.
Lisa N-W

Wedding Suggestions

Here's what we did. I bought a used wedding gown for $100.00. It wasn't as 'fancy' as I would have liked so my mom and I bought opaque sequins and pearls and sewed them on. I made my veil with a hair band, veil material and the same sequins and pearls and a little lace. All in all the cost was about $145.00 for me. My husband rented the tux for $65.00 including the shoes. We asked if we could use the facilities at his work for our reception because the church didn't have anything (they had a small hall for meetings and such). His work said yes and it was free. Here's where the trick is. I asked my relatives to give us part of our wedding as our "gift". My aunt provided the food and prepared it! (It was all cold food, so no cooking or warming was involved.) My boss bought our wedding cakes as our gift. Etc... you get the picture. I put little announcements in front of the cakes, food, etc... saying who gave them. It was really wonderful. We probably only spent about $300.00 ourselves. (I can't remember exact figure, was 8 yrs ago...)
Donna

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Frugal Advice for Nearly-Weds