You may not be able to buy love, but getting married can be one of life’s major expenses. Although the economic downturn has caused many couples to decrease their budgets, the average wedding still costs between $21,000 and $24,000, according to the Association for Wedding Professionals International. Fortunately, there are strategies that can help you cut costs. “There are ways you can save, while still getting the wedding you want,” says Kelly Williams, Financial Center Manager with Fifth Third Bank.

Saving for your big day
Start by making an appointment at your local financial organization. A financial professional can help you begin saving money for your big day. It’s best to start saving as early as possible – you can even start before you get engaged. However, it's possible to save a nice amount whether you have six months or two years. Depending on your situation, a savings account or certificate of deposit may be a good option.

Financing your dream wedding
A financial professional can also help you find ways to finance your wedding. For example, if you own a home, you may be able to use equity you’ve built. Benefits with using this option include borrowing only what you need, low interest rates and flexible payments. “A home equity line is a great option when you might not know all of your expenses upfront,” Williams says. “It’s perfect for weddings because you have flexibility in how much you borrow and how you pay it back.” If you don’t own a home, you may be able to receive similar benefits by using equity you’ve accrued in a vehicle.

You may also consider using a credit card to pay for portions of your wedding. With a bit of research, you may be able to find a card that offers zero-percent interest for six to 18 months. However, you should first consider other financing options or reduce costs to limit the amount you need to charge.

Simple ways to save
If you need help cutting costs, consider the following advice:

• Network within your community. Local vendors or people you know may be able to offer you a discount on services or products. Check with family, friends and your local chamber of commerce for referrals.
• Prioritize what’s most important to you. For example, if a fancy sit-down dinner is part of your dream wedding, consider cutting back in other areas.
• Take your vows during the off season. Having your wedding during a slower time of year – typically November through April – could add up to significant savings. Also, consider the day of the week and time you hold your wedding. For example, reception halls usually cost less for Sunday brunch and Friday evening rentals.
• Exercise your creativity. Try making your own favors for guests, or incorporate them into your table place cards or centerpieces. Also, look into all of your options for invites. For example, hand calligraphed cards cost more than printed ones.

If you need help saving for or financing an upcoming wedding, visit Fifth Third Bank. Our financial professionals are available to help you create a savings plan and offer advice on which financing products are right for your situation. “We’ll help you make your dream wedding a reality,” says Williams.

To learn more about saving for or financing a wedding, contact Fifth Third at (866) 475-4201 or visit 53.com.

All loans subject to credit review and approval.