Paying Off Vendors.

Original post by flairforfashion

Jan 12, 2009 10:21 PM

I am sitting here and as you can see, I am on nervous planning mode. THREE MONTHS! OMG I am freaking out!

Anyways, with that said- I am thinking about paying off the vendors. Most of them don't require payment 'til either a month or week before the wedding. But I have the money now. I know it's good to not pay them entirely so you have something to hold over their heads but can I pay them half of the balance and then pay them remaining right before the wedding?

What have you done? Are they paid off or are you waiting?

Sweeteey51 Posted: Jan 13, 2009 12:41 AM

Re: Paying Off Vendors.

Were paying the lasts payments when there due, i wouldnt pay ahead of time just in case they went out of business.

StefPalma Posted: Jan 13, 2009 06:40 AM

Re: Paying Off Vendors.

Posted by megsher

Don't let them make money off your money. Wait to pay.

exactly - they make money off of your money instead of you. just keep it in your account and keep the interest for yourself

plus, in this economy, you don't want to pay someone in full and God forbid have them go Bankrupt - then you lose that money

i would pay the day of, after they 'perform' whatever duties they need to perform

beram63 Posted: Jan 13, 2009 06:43 AM

Re: Paying Off Vendors.

i think you should be the one earning interest on that money, not them. set up one of those ING accounts w/ the electronic transfers. 'pay' the vendors into the savings accounts so it's no longer accessible. pay them for real when the due date rolls around.

MrsInglima Posted: Jan 13, 2009 06:55 AM

Re: Paying Off Vendors.

We had to wait because we didn't have the money until recently. But I would pay it off if you have the money. God forbid something happens you will be all set AND it's one less thing to worry about.

NikkiR515 Posted: Jan 13, 2009 08:53 AM

Re: Paying Off Vendors.

So far we have only paid the minimum required on all of the vendors.. We are probably going to pay them all when they are due but I might throw some extra money towards the RH after I get my tax refund so I don't spend it all on something stupid!

Dani777 Posted: Jan 13, 2009 08:55 AM

Re: Paying Off Vendors.

we're paying them almost off... LOL. Like, we are leaving just a small amount left to pay them before the wedding, but we are paying a large amount to all of them just to get it out of the way.

flairforfashion Posted: Jan 13, 2009 09:32 AM

Re: Paying Off Vendors.

I talked to FH this morning and we decided that we are going to open another bank account for just vendors. Right now we have an account which is holding our cruise spending money and vendor money which is kind of confusing. So splitting up the accounts would probably be better for us.