For Visa Inc.
(703) 683-5004, ext. 133
Don't Let Your Wedding Marry You to Debt
Visa Offers Tips to Have the Perfect Big Day Without Going Perfectly Broke
With the average American wedding costing $25,000, this joyous celebration runs the risk of saddling happy couples with relationship-crippling debt for years to come.
To help couples make the most of their wedding budget and prevent them from derailing their long term financial goals, Visa offers some useful budgeting tips as part of its Practical Money Skills for Life (www.practicalmoneyskills.com) financial literacy program. They include:
- Make a budget, prioritize the parts of the wedding that are most important to both of you and cut back in other areas.
- Limit the guest list to close friends and family.
- Hold your ceremony and reception in one spot – it will cut travel time for vendors you pay by the hour.
- When shopping for wedding attire be sure to check outlet stores.
- Have a photographer you love but can't afford the prices? Ask them if they have an associate who will do your wedding for less.
- Substitute less expensive seasonal and local flowers or use more greenery.
- Order a small one or two-tiered cake to have on display and then supplement with a larger sheet cake served from the kitchen.
- Consider a weekend honeymoon nearby and then have a more elaborate one for your first anniversary.
"For most couples, the wedding is the first major financial decision they will make together and can set the tone for how they deal with money for the rest of their lives," says Jason Alderman, Personal Finance Expert and Senior Director of Global Financial Literacy, Visa Inc. "To be sure that perfect wedding fairy tale doesn't turn into a financial nightmare, it's important that couples are willing to sit down and have 'the money talk' long before heading down the aisle."
Visa's Practical Money Skills for Life financial literacy program reaches millions of people around the world each year. Launched in 1995, the program is now available in 10 languages in 30 countries. At Practical Money Skills for Life, educators and parents can access free educational resources including personal finance articles, games, lesson plans, and more. The program also includes a comprehensive section to help consumers prepare for important life events. The marriage section can be found at: http://www.practicalmoneyskills.com/personalfinance/lifeevents/marriage/.
CONTACT: To arrange for an interview with Mr. Alderman, please contact Hugh Norton at (703)683-5004, ext. 133 or firstname.lastname@example.org.
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