Now that you are all excited about getting out of student loan debt (see last week's post), let's talk about getting rid of another big chunk of debt that you may have hanging over your head, a.k.a. wedding expenses. If you are already shaking your head and telling me that you DESERVE a big wedding because it is your ONLY ONE, and because it is your special day... I'm not here to argue with your point. I have no intention to tell you that you should not get a big wedding. Nor am I saying that your should not give your daughter a big wedding. I'm simply suggesting that you plan beforehand, that you execute during and that you stick with the plan afterwards.
From a financial standpoint, I truly believe that you deserve to have anything your heart desires. I just also believe that planning for it is the best way to ensure you don't have regrets afterwards. When it comes to your big day, your wedding day, usually you have a long time to plan - it is not an impulse buy and it is not a small chunk of change. This is why you can make the wedding account your priority when it comes to saving during the year prior to the big event, so you can pay with your money instead of the bank's money (which you will be repaying with interest).
Another suggestion for the entrepreneurs reading this post, is to check into bartering different things you need for your big day. If there are some services you can provide in exchange for photography, videography or even flowers and cake, this can be a way to lower your final bill. Many times it also helps to deal with smaller local companies - like the dress designer, the tailor for the bridesmaid dresses - because they may be willing to give you discounts, or you may be able to make arrangements for future collaboration and/or sponsorship.
If you already have a house and many of the items you need inside, you may not want to register at the traditional stores for the brides. One way to lower the price tag for the wedding, or to have more money left after your big day, is to register for honeymoon registry so you don't have to use your own money for any traveling you want to do.