Millennial Weddings on a Budget

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martinis and your money

Millennial Weddings on a Budget

Student Loan Debt is causing many millennials to delay their dreams of marriage; however, today I’m talking to Chonce Maddox from the blog My Debt Epiphany about how she married the man she loves despite her debt struggles – and did it all within her $10,000 wedding budget!

What are we drinking?

Chonce — Amaretto sour

Shannon — Organic chardonnay

Podcast Notes

  • Chonce began blogging about personal finance in college when she had to start a blog for one of her classes.
  • She graduated with about $20,000 in student loan debt and also took out a high-interest (15.5%!) car loan for about $10,000.
  • Chonce and her husband got married in May 2016 after getting engaged in September 2015.
  • They spent $7,000 between the two of them on the wedding, and their parents spent $2,000 on their wedding to help with the venue.
  • Chonce outlined the highest expenses for a wedding and figured out how she could keep them to a minimum.
  • Shannon suggests thinking about using Paperless Post instead of sending actual mailed invitations.
  • The wedding was held on a Sunday at 2:00PM, which helped with keeping venue costs lower.
  • They did not have an open-bar at their wedding, only a cash bar, and Shannon adds that alcohol at a wedding costs at least as much as the food and that was a smart financial choice.
  • Chonce spent $500 on her wedding dress from David’s Bridal.
  • She created a wedding resource guide for $20 to help brides save thousands on their dream wedding.
  • TAKEAWAY: You should never let your student loan debt get in the way of you accomplishing your other goals!

Random Three Questions

  1. What are some of your favorite blogs to follow for financial advice and help?
  2. If you could live anywhere else in the world, where would you live and why?
  3. What is a bucket list item that is very important for you to accomplish?

Connect with Chonce:

Website

Financial Conversation Podcast

Wedding Guide

How much did your wedding cost? Do you think you shouldn’t get married if you’re in debt?

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Shannon is a financial planner who left a “traditional” financial services firm to start her own company, The Financial Gym, because she felt traditional financial services firms did not have the tools or resources to help people in their 20s and 30s who are starting out and trying to build assets while also managing debt. She realized that the key to long-term personal financial success is a commitment to financial fitness and making smart financial choices. Through her blog, Financially Blonde, her book, Train Your Way To Financial Fitness, her podcast, Martinis and Your Money and The Financial Gym, Shannon is committed to making financial fitness fun, easy and accessible for everyone.

1 COMMENT

  1. Weddings can be extremely expensive! That is really amazing that Chonce only spent $10,000! I think that email invitations and not having an open-bar are really great ways to cut costs on invitations!

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