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business Saturday 14 May 2022
How guests can honor their budgets in peak wedding season

By AMANDA BARROSO of thing you can to share
NerdWallet a close friend's or fam-
It's a banner year for wed- ily member's special day
dings, with industry experts — even if it stretches your
at the Wedding Report budget.
predicting that more than Appel doesn't advocate
2.5 million couples will tie going into debt for a wed-
the knot — a 40-year high. ding. But, he says, "I also
But you might find your fi- don't want people to miss
nances aren't quite ready out on those memorable
to take on the costs associ- experiences." He suggests
ated with being a wedding trying to reduce spending
guest. or temporarily increase in-
Half (50%) of Americans say come to cover extra costs.
they plan to attend a wed- If those strategies aren't
ding in 2022 — but less than enough, you might con-
a third (31%) have built at- sider putting your wedding
tendance into their bud- guest expenses on a credit
gets, according to a new card. However, make sure
survey. you have a plan to pay off
"I think guests are going that debt — the debt ava-
to start looking at all the lanche or snowball meth-
things that they never really ods are popular. And use
looked at before and de- In this Tuesday, May 23, 2017 file photo, a bride and groom pose for wedding pictures at the credit cards strategically.
termining, 'Is it really worth Bethesda Terrace in New York's Central Park. Moving charges to a card
me attending this event?'," Associated Press with a low or 0% APR for
says Sheavonne Harris, a balance transfers gives ex-
wedding planner based in Airfare or driving costs plus ting a vacation rental with Clothing rental services like tra time to pay without run-
New York City. In some cas- lodging can add up. Us- other guests. Rent the Runway or Nuuly ning up a lot of interest.
es, they may just decide to ing miles or points you've Appel also suggests mak- help you cut costs and still IF YOU HAVE TIME, SAVE BE-
send a nice gift in their ab- earned can help reduce ing the trip do double duty feel special. FORE GOING
sence, she says. travel expenses. Getting if you have nearby family or And don't let expectations If you know there are wed-
Before you RSVP, weigh im- around town once you ar- friends who you were plan- to spend outrageously on dings in your future, start
portant factors — from air- rive is another cost. "Each ning to visit this year. gifts hold you back. planning now.
fare costs to your relation- wedding is a few hundred SET REASONABLE SPENDING "Just because we know Build guest expenses into
ship with the couple — and dollars to rent a car when LIMITS FOR GIFTS AND OUT- the person well doesn't your budget with a sinking
consider these ideas for fit- you're there for a week- FITS necessarily mean that you fund — a savings account
ting attendance into your end," says Elliott Appel, a Getting to the wedding is need to spend a signifi- dedicated to a planned
budget. certified financial planner only part of the cost. You cant amount of money on expense. Consistently sav-
THINK ABOUT SAVING ON in Madison, Wisconsin. Con- also want to bring a gift a gift," Appel says. He sug- ing smaller chunks over
TRAVEL COSTS sider sharing rental-car or and look presentable. Af- gests a gift with personal time is more manageable.
Among the top factors ride-share costs with other ter more than two years meaning behind it, some- Also, cutting costs across
Americans consider be- guests to save some cash. of pandemic living, formal thing "that maybe reflects your budget not only helps
fore attending a wedding Most couples are still pro- clothes hanging in your back on an experience or you afford wedding atten-
are how far it is from home viding hotel room blocks closet might not fit the way a shared memory." A group dance but also respond to
(47%) and the cost of travel at a discounted rate for they used to. gift is another way to give a rising inflation in general.
and lodging (43%), accord- their guests, Harris says. "If you can duplicate outfits higher-priced item without Think about buying store
ing to a NerdWallet survey Make sure you don't miss as opposed to doing mul- busting your budget. brands, renegotiating bills,
of more than 2,000 people the deadline to catch that tiple different outfits for ev- STRETCH THE BUDGET STRA- canceling subscriptions
conducted online by The deal. You might also con- ery wedding, I always rec- TEGICALLY and trimming discretionary
Harris Poll. sider sharing a room or split- ommend that," Appel says. You're likely to do every- spending.q

U.S. fishing haul fell 10% during first

pandemic year

By PATRICK WHITTLE mospheric Administration Liddel, NOAA's commer-
Associated Press said. The early months of cial fishery statistics branch
PORTLAND, Maine (AP) the pandemic posed nu- chief.
— America's commercial merous challenges for the NOAA made the an-
fishing industry fell 10% in U.S. fishing industry, which nouncement as it unveiled
catch volume and 15% in has remained economi- its "Status of the Stocks" re-
value during the first year cally viable despite the dif- port, which provides details
of the COVID-19 pandem- ficult year, NOAA officials about the health of the na-
ic, federal regulators said said. tion's commercial fishing in-
Thursday. "It was fishery closures, dustry. A scallop fishermen heads out at dawn Saturday, Dec. 17, 2011,
The 2020 haul of fish was boats not going out due The report said there were on opening day off Harpswell, Maine.
8.4 billion pounds, while the to COVID, border closings 51 fish stocks on the federal Associated Press
value of that catch was due to COVID, lots of dis- government's "overfished
$4.8 billion, officials with the ruption in the flow of goods list" in 2021. That list includes pleted by excessive fishing crease of two from the pre-
National Oceanic and At- and services," said Michael stocks that have been de- and the number was an in- vious year.q