Your big day doesn’t have to mean big spending, even in an expensive city like London. Here we discuss the investments instead of big wedding celebration.
According to the National Wedding Survey 2019 by Hitched:
“The average cost of a wedding in London has reached £39,763, making it the most expensive place in the country to tie the knot.”
Your wedding celebration should be a reflection of you and you are beloved. No amount of money can replace a small, intimate wedding affair with close friends and family.
Plenty of couples makes the mistake of “playing all their cards” at the wedding. How much you spend on your wedding is ultimately up to you. Of course, you should still think of what you could spend all that money on instead.
If you aren’t convinced, here are 5 investments that you should consider over a lavish wedding.
1. Custom Engagement Ring
Now that you’ve saved on the reception, get personal with your engagement ring. You don’t have to go with the gaudy, giant diamond. A simple engagement calls for simple wedding rings. Create a ring that means something deep for both of you. Perhaps the gemstone is your favourite colour. The stone could be an important item to your significant other. The band can be any color besides the usual silver and gold.
Certain bands could also have inscriptions on them. The inscription could be anything from a joke to a heartfelt quote. The gemstone doesn’t even have to be a traditional shape. You could make it stand out with a heart shape. Perhaps an elaborate flower design that also minimizes the use of expensive gems. You can get more individualised ideas by heading to the high street shops for wedding jewellery in London.
There are plenty of ideas you could go with. Look back on your entire romance. Does anything stick out? Put those feelings and memories into the ring you commission. A wedding ring that means something to the wearer is worth more than any expensive gemstone. Get a free consultation at the best London jewellers for the best option.
2. Donate to Charity
There is no greater gift than one you give to a stranger in need. Donating to charity isn’t usually on people’s minds during a wedding, but why shouldn’t it be? Think of all the factors that got you and your significant other together. Give back to that good karma by spreading more joy.
When thinking of a charity to donate to, think of things relevant to both of you. Did you, against all odds, survive a near-fatal disease? Consider donating to a research centre dedicated to curing it. Do you have a dream career that you gave up on due to its difficult state? Donate to a charity that supports young professionals in that industry.
Do your due research on any organization you donate to. Only donate to trusted and established non-profits in the community. A simple Google search could save you from donating to the wrong cause. Your decision to have a micro wedding could change someone else’s life.
3. Treat Yourself
You don’t have to spend all this money on a wedding. Just spend enough to check off a few items from your bucket list. Was there a hot ticket item you’ve always wanted to own? Is there a great Canary Wharf restaurant you could never afford before? Don’t think too much. Treating yourself (reasonably) is just as important as saving money. We earn to live, not live to earn.
Besides luxury items, perhaps you need more practical or eco-friendly items. Is there an appliance that you’ve always needed but couldn’t afford? Does work require you to buy a new laptop or desktop? Practical items are also a way of treating yourself.
4. Go All Out On Your Honeymoon
Remember, a marriage isn’t to impress your family and friends. Your loved ones will love whatever wedding you decide to have as long as you’re happy. Instead of a wedding where you must entertain guests and plan for months on end, splurge on your honeymoon. A long vacation traveling the world in style is more memorable than a traditional wedding.
Talk closely with your partner about this. A vacation at popular holiday destinations won’t be as stressful to plan as a wedding. After all, your biggest worry is how much you two will be enjoying it. No guests to feed or keep entertained. You don’t even have to go out of the country. Think of places locally that you could never afford before. Treat yourself to a great honeymoon period. After all, you’re married!
5. Invest In Your Mortgage
Once the honeymoon is over, you must find somewhere to live. While one of you may have an apartment, a house is something special. Instead of a lavish wedding, use those extra funds for your first mortgage. This is a major asset on your journey into homeownership. When choosing a house, think long-term. This won’t be a temporary stay and you’ll be living in this house for a long time until you’re ready to upgrade your property.
Not having a lavish wedding also helps in different ways. In addition to the money saved, your credit is also likely much better without the expenses of a lavish wedding. Couples have the flexibility to go for a joint account or have it under the breadwinner’s name. Unlike a lot of first-time couples who find themselves struggling, you will be having an easier start.
When your future children ask you why your wedding was so simple, tell them to look around. Your small wedding paved the way for your and their future.
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