We may be experiencing one of the coldest winters on record, but that won’t have stopped hundreds of New Zealanders receiving marriage proposals over the last few months. With summer seemingly an eternity away, if you’re thinking about getting married when it’s warm, then it’s time to start planning now.
Weddings should be a joyful event for all concerned. Declaring your love for your significant other in front of family and friends is something to cherish, and will create fond memories for all involved. However, saying ‘I do’ can be an expensive two words, and many couples have to save for years to be able to afford the wedding of their dreams.
According to New Zealand company DIY Events, your average Kiwi wedding costs between $10,000 – $30,000. The reception alone can make up 65% of your total budget when you factor in food and drink. There’s a lot to consider for your big day, from invitations, ‘the dress’, the flowers, and the photographer, right through to the music, the venue, the menu and booze.
How are you paying for your wedding?
Most people don’t have $10,000 in the bank or under the mattress to pay for their big day. For those that don’t have the savings or can’t get mum or dad to chip in, then a personal loan is a viable alternative.
Peter Steel, Director of Yes Finance comments, ‘We receive a number of approaches from couples wanting to get hitched every month. For some people, we really are the only finance provider that they can rely on. .
We try to keep the process simple and the paperwork to a minimum. Our interest rates are also competitive. Planning a wedding can be stressful enough, without having to worry about paying for it.
After completing an initial online assessment, we can quickly let you know if your loan is approved. We structure it so they draw down the funds as and when required rather than have access to the entire amount from the outset and then find when they need to pay the bills they don’t have it any more.”
Kiwis love to celebrate
In terms of the numbers, according to Statistics New Zealand, in the year ending December 2014 there were 20,125 marriages registered to New Zealand residents – of these, 486 were same-sex marriages. There were 13,958 first marriages, 6,046 remarriages, and 121 couples (both same-sex and opposite-sex) who transferred their civil union to a marriage. An additional 2,898 marriages were registered to overseas residents.
No matter who your partner is, or whether you’re planning for a church wedding, or civil ceremony, it’s worth looking at ways to minimise the outgoings for your special day. Here’s our list of top budget busting tips:
- Don’t invite the world and his dog, be selective about who you want to share your big event with. More is certainly not less when it comes to paying for your guests to eat, drink and be merry.
- With the great weather we have in New Zealand during the summer why not consider an outdoor venue that won’t cost a thing? It could be a beach, a park or reserve. Venue hire can take up a large part of your wedding budget.
- Don’t lay on a banquet. Consider a buffet option or something more causal than a three course meal. Folks are attending to wish you well in your married life, and won’t mind if the food isn’t prepared by Josh Emett.
- Invite friends and family to bring their own drinks. This will prevent you incurring a huge bar bill at the end of proceedings.
- Consider buying a second hand dress – there are a number of second hand shops selling exquisite items, or you may want to look on Trade Me – just remember many of these frocks will have only been worn for one day!
- Ask a mate to take the photographs or video the ceremony, hiring an official photographer can be costly.
- Do you need to go to Fiji for your honeymoon? There are plenty of beautiful places in New Zealand that will cost a fraction of the price for a stay over.
Peter concludes, “For most people, you only get married once, so you might as well do it in style. Our clients often tell us that we have been instrumental in making sure they have had a wonderful day, without having money worries.”
If you’re thinking of tying the knot and are unsure about how you will pay for your big day, get in touch and we’ll talk you through how Yes Finance can help.
Apply online or call the friendly Yes Finance team on: 0508 10 50 10 who are experienced at these types of loan applications.
