Wedding Planning 101
Due to unforeseen circumstances, you may have to postpone your wedding date, use these ideas to announce to your friendsRead More
I’ve accumulated a LOT of tips over the past 20 years of being a bridal editor. But the one that is perhaps the most important in light of all the financial horror stories I’ve been hearing about brides and COVID-related cancellations and postponements is this…
ONLY pay your vendor or venue the deposits that are specifically stated in your contract. For example, if your contract requires an initial deposit, 40% due six months before the wedding date and the additional 40% due a week before the wedding, ONLY make these payments exactly as your contract states.
DO NOT ask to write up a new contract and have your deposits spread out over a year- or two-year period, which is what I see many brides do, thinking they will be able to better afford it this way. While this may seem a financially prudent step to take, it’s actually not. Keep reading to find out why…
INSTEAD: Pay yourself!!! Take the cost of the venue/vendor and divide it by how many months you have until your wedding. Deposit this amount into a separate bank account of YOURS and do not touch, except to make payments according to your contracts.
WHY?? Some contracts are written to categorize ALL payments as deposit monies, so brides who have chosen to cancel are now losing ALL monies paid versus just their initial deposit amount. And if you pay by credit card, you can get your credit card company involved with any disputes.
Carefully read ALL contracts. And if you’re confused or not clear on what they say, ask your venue. Or consult a contract attorney for a quick review so that you understand all of the stipulations.