Paying vendor in advance

Paying vendor in advance

So I have about 1 year and 2 months until my wedding now and I was wondering if it is ok to start paying my vendors in advance? This way I will have little to no payments by the time the wedding comes. I don't know if it is a good idea in case something happens with a vendor and then I will be losing my money if something goes wrong. Anything can happen you know! Most of the vendors I have booked and I am pretty sure they are reliable. I would like to get some of my payments down that way it will be less stress when the week or two of the wedding comes. Is this a good idea?

Paying vendor in advance

I was just having this conversation, Pay yourself, put the money in an envelope in a safe somewhere.. I wouldnt pay this far in advance

Paying vendor in advance

Listen to Fashion Bride!! I work for a limo company and I asked my boss this, he said as soon as you pay people you are no longer a priority and if God forbid they go out of business or double booked you, you could loose the money! Put it in a safe or open a TFCU and put it in there once you have enough to pay off each vendor. Collect some interest and forget about it

Paying vendor in advance

Smart Erika!! Open a 1 year cd and earn interest (even though it's at a low rate) but then take it our next August when you need to start paying people

Re: Paying vendor in advance

Re: Paying vendor in advance

Paying vendor in advance

we've started paying off some vendors. We put 50% of the DJ down at signing and owe the other 50% a month before the wedding, we have a couple of florist payments starting in October, and we have already paid more than half of our photo/video. As far as the RH, we paid about 5k and now we are done until like a week before the wedding.

Re: Paying vendor in advance