Wednesday, February 29, 2012

Wedding Etiquette: How to Finance Your Wedding

The wedding budget is a very important issue that needs communication between all parties involved – the couple and their respective families. Gone are the days when the bride’s family bears the burden all alone because they are giving out their daughter. The wedding seems like the last thing you are doing for your daughter, so you want to spend your last dime. In recent times, things have changed. It’s common to have the bills for the wedding split between the two sides.
However, settling the wedding bills is a grey area, there is no black or white. Personally, I am of the opinion that communication lines should be kept open. An agreement should be reached as to who pays for what, and not just leaving the burden to, say, the richer party. Honestly speaking, responsibilities should be shared. There are three ways you can source for funding for your wedding; each has its pros and cons.
The Bride’s Parents
Since, they are giving out their daughter in marriage, the mother-of-the-bride and father-of-the-bride would not hesitate to spend on their daughter’s wedding. The bride’s parents solely contribute each kobo to finance the event.
Good – you have enough money to spend after the wedding. You live your married life debt free and you don’t get to touch your personal savings
Bad – he who pays the piper dictates the tune, you would have to compromise a lot. For instance, if you want a hundred guests at your wedding, they may insist on inviting three hundred. What can you say? It is their money after all! If your parents are retired and living on their pension, it could rip them off their pension or life savings.
Everyone
In this scenario, there is a shared responsibility in financing the wedding. The groom’s family, the bride’s family and the couple contribute.
Good – you get the kind of wedding you want since there is no scarcity of resources. You do not have to expend all your savings or go bankrupt. There is money left for you to spend after the whole event.
Bad – since every stakeholder contributes financially, you do not have total control. You may have more guests than you personally want present at your wedding.
The Couple
Good – you have total control and make decisions your own way. You get the kind of wedding that you want; you don’t have to dance to anyone’s tune. Your parents get to keep their pension if they are retired.
Bad – like I always say, this is Naija! When the couple fund their wedding themselves, it could be an offence to the parents, especially the bride’s. She is their daughter and they always want to contribute to the success her big day. Also, since you are the sole financier, you may run into debts or go bankrupt. This is because you are likely going to dip your hands in your savings.

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