Sunday, November 8, 2009

There's Wedding Insurance in YOUR wallet.

The holidays are fast approaching and so is the BIG day for many of you! That’s why this week’s “Words of Wisdom…” have to do with protecting your wedding investment.

What’s the average cost of a wedding today? The answer is a whopping $28,000. Wow! That’s a lot of dinero to spend on a four- or five-hour party. So it’s critical that you safeguard your investment and there’s an easy way to do it.

Every one of us carries an insurance policy in our wallet and guess what it’s called? It’s called a credit card and your credit card can be your greatest financial protection when planning your wedding. Let me give you examples. There was once a bride and groom who booked a florist and gave them a $1500 deposit… in cash. Two weeks before the wedding, the shop went out of business. The couple was totally distraught; they didn’t have money to reserve another florist--but had they used their credit card, their deposit would have been protected. Recently, a bridal salon in our town went out of business. All the brides who gave the shop cash or checks for the deposits paid on their gowns were out of luck. But the ones who used their credit cards had their deposits refunded.

And there are other advantages. Some credit-card companies refund a percentage of your total purchases—in cash or bonuses. Others offer free travel insurance and frequent flier miles. And of course, if you pay the balance due within 30 days, there are no interest charges.

The lesson to be learned is this: No matter how much money you have in the bank, use credit cards to pay for your wedding. Weddings are planned months in advance, and no one knows what’s going to happen down that long, rocky road to the altar. Credit cards offer financial protection, benefits, insurance, and may even save you $$$$.

Happy Weddings!


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