When most couples are spending upwards of $30,000 for their wedding day, you really gotta wonder…where’s it all coming from?
Should you pay with cash, check or credit card? So much of it depends on how your wedding vendor prefers to be paid. There really is no one-size-fits-all answer on the age-old cash vs. credit debate. But if you have any say at all, remember that you can put your money to work for you, depending on your objectives.
Here, we give you the lowdown on the four best ways to handle wedding payments to your vendors.
CREDIT CARD
Rewards, rewards! Plastic is the preferred choice for many reasons. Besides convenience, the next best perk is the rewards. Since you’ll be paying a five or six-figure sum for your wedding, why not earn something off it? The 1-4% cash back can help offset other parts of the wedding. Heck, the miles earned may even score you a free honeymoon trip!
Rewards, rewards! Plastic is the preferred choice for many reasons. Besides convenience, the next best perk is the rewards. Since you’ll be paying a five or six-figure sum for your wedding, why not earn something off it? The 1-4% cash back can help offset other parts of the wedding. Heck, the miles earned may even score you a free honeymoon trip!
Track your spending. Every “swipe” of the card leaves an indisputable paper trail. Every record is a safeguard should any disputes arise (see the point below for more on this). And being able to check your statements will be a lifesaver for budgeting and reconciling purposes.
Consumer protection. Should a vendor fail to show up or deliver on their promised service or product, credit card companies might offer you recourse through their dispute resolution center. If there’s a strong case for it, you may get some or all of your money back for an errant vendor.
ONLINE METHODS
Convenience. When you have dozens of outstanding payments over the course of a few months,
you’ll find it a relief to be able to pay your vendors with the click of a button.
Convenience. When you have dozens of outstanding payments over the course of a few months,
you’ll find it a relief to be able to pay your vendors with the click of a button.
All your accounts in one place. Online payment portals like HoneyBook and PayPal give you the
option to save your bank and card details for future payments. Since your wedding vendors will split
payments into two or three installments, the portal can help you remember which card you used for
each vendor. No more fishing cards out of your wallet and typing every digit when you need to make
a transaction!
option to save your bank and card details for future payments. Since your wedding vendors will split
payments into two or three installments, the portal can help you remember which card you used for
each vendor. No more fishing cards out of your wallet and typing every digit when you need to make
a transaction!
CHECK
The convention. Most wedding vendors still request to be paid with check, so carrying a checkbook
when meeting with vendors is your best bet for sealing the deal on the spot.
The convention. Most wedding vendors still request to be paid with check, so carrying a checkbook
when meeting with vendors is your best bet for sealing the deal on the spot.
Safest by mail. You’ll probably find yourself having to mail payments to vendors all the time
throughout the wedding planning process. Our parents always warned us about sending cash via
mail, so that’s out. And let’s be honest, nobody likes to write down their sensitive credit card details
on a piece of paper and mail it off with a stranger (ehem, the mailwoman). So if it comes down to
mailing a payment, the good old-fashioned check might still be the safest bet.
throughout the wedding planning process. Our parents always warned us about sending cash via
mail, so that’s out. And let’s be honest, nobody likes to write down their sensitive credit card details
on a piece of paper and mail it off with a stranger (ehem, the mailwoman). So if it comes down to
mailing a payment, the good old-fashioned check might still be the safest bet.
CASH
Settle your balance instantly. Cash is money in its most liquid form. So handing over that $200,
for example, will settle your bill with no time lag. No processing time required. Just remember to ask
for a formal receipt for your payment!
Settle your balance instantly. Cash is money in its most liquid form. So handing over that $200,
for example, will settle your bill with no time lag. No processing time required. Just remember to ask
for a formal receipt for your payment!
Potential vendor discounts. A few wedding vendors might offer you a modest discount when you
pay with cash. However, this is a rare occurrence, so don’t count on it.
pay with cash. However, this is a rare occurrence, so don’t count on it.
More control over spending. For those with a tendency to get swipe-happy, paying in cash can
help to remind you that you’re really spending. Researchers have found that transparent forms of
payment like cash result in a greater “pain of paying” so you won’t spend more than you can afford.
help to remind you that you’re really spending. Researchers have found that transparent forms of
payment like cash result in a greater “pain of paying” so you won’t spend more than you can afford.
Source : www.blog.honeybook.com
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Whether you’re out to save time or score honeymoon flight miles, there’s at least one payment method (or a combination of them) that’ll work for you. Talk with your vendors about your payment options and explain to them what’s important for you.