YOUR WEDDING FINANCES AND COVID-19

April 20, 2020

ELLIE IS A TWENTY-SOMETHING LONDONER HELPING MILLENNIAL WOMEN SAY GOODBYE TO DEBT AND HELLO TO STRATEGIC FINANCIAL SAVING!

I recently reached out to ask the wonderful Ellie of ‘This Girl Talks Money‘ for some helpful financial wedding tips! So for anyone currently planning (or postponing) a 2020 wedding due to COVID-19, this post is for you!

“Without doubt, the wedding industry and the hundreds of couples with 2020 weddings planned, has been totally turned upside down by the outbreak of Coronavirus.
Whilst the outbreak we cannot control and our health must remain our top priority, the prospect of rearranging a wedding is enough to send even the calmest of brides-to-be into a head spin!
When it comes to all things finance, here are some tips for handling money-related wedding worries right now.”

1. TAKE CONTROL WHERE POSSIBLE!

Ask questions and don’t wait to be told what is or isn’t happening. One of the best ways to alleviate stress when it comes to money is taking positive action to either resolve or gain control over a situation where you can. The sense of feeling ‘out of control’ is something many people are finding tricky right now, especially brides, who have been excited about planning their dream wedding.
You may not be able to have the date you planned, however, if you have cancellation options then look into these and don’t spend any more than you have already committed to until you are clear on the course of action.

2. COMMUNICATE

If you’re worried that your wedding may need to be postponed, speak to your suppliers as soon as possible.
Many suppliers are being as accommodating as possible (given the current circumstances) and helping couples move their wedding date at no extra cost! So, before panicking about losing deposits, contact your suppliers and have a chat! You may be pleasantly surprised!

3. CONSUME INFORMATION MINDFULLY

There are plenty of Facebook groups full of brides panicking about their upcoming nuptials. For some, this can be reassuring, but for others, this can set off major panic and anxiety! So make sure you know which camp you’re in and if it’s the latter, remove yourself from these situations. Be mindful of who and what you allow into your mental space.

4. CONSIDER THE POSITIVES

Getting married is an extremely expensive occasion and often puts people under an uncomfortable amount of financial pressure.
So whilst this isn’t a desirable situation, one potential upside to forced postponement is; time!
Use the extra time to revamp your savings strategy/start a savings strategy!/pay-off large bills upfront/rework your budget/get creative!

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