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myFICO: How to Save Money on Your 2022 Summer Wedding – Business Wire

SAN JOSE, Calif.–()–Many couples who delayed their weddings during the pandemic have their eyes set on 2022, and they’re being joined by the newly engaged in creating one of the busiest wedding seasons in years. According to The Wedding Report, a research company focused on the wedding industry, there will be about 2.47 million weddings in 2022 — an increase from 1.93 in 2021.

As many couples are already experiencing, increased demand, supply chain issues, and inflation are driving up costs and making wedding planning more difficult. There are many listicles of money-savings wedding tips online (e.g., choose off-peak days, use in-season flowers, and forget the formalities you don’t care about), but a 2022 summer wedding is going to be a little different. And here’s what you might want to consider, from myFICO.

For more loan and credit education, visit myFICO’s blog at https://www.myfico.com/credit-education/blog

Collaborate With Other Engaged Couples

With so many weddings coming up, there’s a good chance that you know (or know someone who knows) another couple who’s getting married in the next few months. If you have similar visions for your weddings, you may be able to combine forces and save money.

In some cases, a brand-new item will be nearly the same price as the rental. And even if they’re close to the same, you could buy the items and only pay half the cost. While you’ll have to deal with storage, you may also be able to recoup part of the expense by selling whatever you buy after you’re all married.

Get Used Decorations and Supplies

Similar to working directly with another couple, keep an eye on online marketplaces where you can search for used items. While this has been an option for years, there may be more items available (but also, more competition from buyers) this year.

People may create a single listing after their wedding to get rid of everything they no longer need. You can often find things like vases, candle holders, signs, and lights, which are often bought rather than rented, and most have only been used for one or two days. You can also search item-by-item if you’re looking for something that’s not wedding-specific, such as a cake stand or picture frame.

Additionally, search for a Buy Nothing Project group in your area. While you might have less say over what you get, it’s hard to beat free. There are also apps that automatically search for free items on multiple websites and marketplaces. You can set these up based on your desired keywords and then get notified when something is listed.

Consider Hiring a Wedding Planner

While a wedding planner likely won’t lower your overall budget, they may be able to offer savings in several ways.

First, they can take some of the planning, organization, and communication work off your plate. If you’re turning down work (perhaps you have a side gig) and don’t enjoy the wedding planning process, hiring someone else could be a win-win.

Wedding planners may also offer direct savings because they often receive discounts from vendors. For example, you might be able to get 10 to 15 percent off your rental order if you’re going through a wedding planner.

Additionally, planners can suggest vendors that align with your budget and let you know what’s a reasonable price. They may also have location-specific savings tips based on their experience in the industry.

Get Started Right Away or Decide to Delay

Many couples are feeling the squeeze of a tight budget and limited time. If your heart is set on a 2022 summer wedding, try to reserve as many things as you can right away — especially if there are free cancellation options.

However, if you’re open to holding off on the wedding or getting married this year and having a large celebration next year, waiting might not be a terrible idea. While there is no guarantee prices will go down later in 2022 or 2023, you’ll have more time to set money aside, search for the perfect vendors and collect inexpensive wedding decor.

About myFICO

myFICO makes it easy to understand your credit with FICO® Scores, credit reports and alerts from all 3 bureaus. myFICO is the consumer division of FICO– get your FICO Scores from the people that make the FICO Scores. For more information, visit https://www.myfico.com/

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