Wedding planning is stressful, but sometimes unexpected circumstances kick it up a notch
More than 200 couples–some within weeks of getting married–are currently in search of a new wedding venue after Brooklyn restaurant reBar abruptly closed in early May. If that’s not bad enough, many are out tens of thousands of dollars already paid to secure the venue, which offered full-service packages including a deejay and flowers. That leaves them little in the way of reserves to re-plan their weddings.
Good wedding vendors outweigh the bad, but I’m a firm believer that any time you’re spending more than you could comfortably lose, it’s important to take steps to protect your investment. After all, the average couple spent $29,858 last year on a wedding, according to TheKnot.com–and I can tell you, having recently planned my own wedding, that there are a lot of moving parts and “what ifs” to consider. (My husband and I were worried about hurricane season, after two years of direct hits on the New York City area.)
One option: Wedding insurance. Premiums start at under $200, and policies cover a laundry list of things that might go wrong–including illness, storms and a venue going out of business. Another? Put deposits on a credit card if possible. The Fair Credit Billing Act gives you the right to dispute charges for goods and services not delivered as promised.
Read the full story at CNBC.com, with more tips to protect your wedding budget.