Is It Worthwhile to Elope for Financial Savings? – MaybeMoney

Is It Worthwhile to Elope for Financial Savings?

Is It Worthwhile to Elope for Financial Savings?

The proposal moment often ignites not just exhilaration but also the daunting task of arranging a wedding. Organizing a wedding usually demands substantial time and financial resources. After all, your biggest day should undoubtedly be unforgettable – shouldn’t it?

Yet, not every couple desires a grand and costly celebration. In some instances, their budget might not accommodate it. This brings us to the emerging trend of eloping.

Elopement, once a choice of a handful, now entices increasingly more couples. The desire to reduce the strain associated with the wedding ceremony and economize for the future is appealing for many. If you’ve ever pondered eloping, you might wonder if it’s a worthwhile choice. Will it genuinely save money or would it be wiser to invest extra for a grand event? Let’s look at some impacts elopement might have on your budget.

YOU’D ELIMINATE A LARGE PORTION OF THE COSTS
Weddings are inherently costly. Dresses, food, flowers, photographers, and venues can accumulate and reach astonishing sums. The larger the guest list, the higher your expense on each of these aspects becomes. Larger venues come with a bigger price tag and call for more decor spending. Food and cake already carry considerable costs. Therefore, entertaining a hundred guests with dinner and dessert will inevitably involve a hefty sum. Eloping, however, reduces or even eliminates these expenditures. A small ceremony is significantly cheaper, even with a humble venue and a meal for a handful of guests.

DON’T FORGET THE COSTS OF SETTING UP A HOME
Gifts are often a side bonus of weddings. Unquestionably, your special day is about more than just presents. For couples starting their lives together, gifts can play a crucial part to help establish their home. Traditionally, gifts from the wedding registry can offset the cost of household items. But elopement might mean spending more on these needs due to reduced generosity from guests who don’t attend a wedding ceremony.

ELIMINATE THE THREAT OF POST-WEDDING DEBT
Regardless if your ceremony is scaled-down, wedding expenses can skyrocket before you know it. Even with budget planning, it’s challenging to keep everything under control, which may lead to surprising debts down the line. As opposed to this, eloping could cut down your wedding cost significantly, helping you enjoy the special day without the looming burden of debt.

LAYING THE FOUNDATION OF A FINANCIAL FUTURE
As newlyweds, you may foresee numerous financial and life goals ahead. Saving for a house, a car, dream vacation, education, or retirement entails considerable expenses. Your wedding is an unforgettable day, yet it’s not the only thing to set money aside for. Elopement could set you on a promising path to achieving these financial goals earlier. Instead of a lavish wedding, invest in your shared future.

STRESS LESS AND SAVE TIME
An entire year of planning might go into organizing a wedding. Complete with decor decisions, garment fittings and bookings, it’s an elaborate process. While there’s no harm in this, it may lead to added stress and time commitment. Elopement diminishes these concerns, freeing up your time and energy for your life as a couple.

THE FINAL TAKEAWAY
Your choice between elopement or a extensive wedding depends on what’s best for you as a couple. Every decision requires a balance of pros and cons. Whether you prioritize saving for different expenses or if your budget doesn’t allow a grand ceremony, eloping might be a great choice for you. Regardless of the scale, your special day will be memorable.
Your thoughts are welcome, would you consider elopement as a means to save? Reasons why you might not consider this option are also welcomed.