Paying vendors in advance?

jmannix84 Posted: Jul 05, 2011 03:56 PM

Paying vendors in advance?

I was thinking about paying some of our vendors now because we have the cash and I dread the thought of paying everyone the week of our wedding. I also don't want to be tempted to touch the money for something else.

Has anyone done this, or are you going to just put the money aside and pay them when its due?

dmbfan36 Posted: Jul 05, 2011 04:10 PM

Re: Paying vendors in advance?

We've been paying money little by little. I feel like I booked with reputable vendors that have been around for a while. We haven't paid anything totally off yet though.

jmannix84 Posted: Jul 05, 2011 04:14 PM

Re: Paying vendors in advance?

Posted by dmbfan36

We've been paying money little by little. I feel like I booked with reputable vendors that have been around for a while. We haven't paid anything totally off yet though.

Thanks. Thats what i was thinking. We also booked vendors that i completely trust, so i may just pay most of the balance up front.

Pinkchick913 Posted: Jul 05, 2011 04:21 PM

Re: Paying vendors in advance?

Fh is taking care of the vendors & I'm paying the rh. I don't know how fh isn't tempted to touch that money, but he made a crap load of envelopes w/ all the different vendors name on each one that we booked and each week he keeps putting more & more money towards each one.

I think we are going to try and get the money together for them asap, but pay them the week before.

bride2be2012 Posted: Jul 05, 2011 04:21 PM

Re: Paying vendors in advance?

As reputable as your vendors may be, I don't think it is a good idea to pay all the money upfront if you don't need to pay it just yet. Maybe consider opening up a separate checking account that you can use until the wedding and put any money for vendors into the separate account so you won't be tempted to spend it.

halfbaked Posted: Jul 05, 2011 04:23 PM

Re: Paying vendors in advance?

I'd be very careful paying vendors up front. Just look at Flowers and Designs by Gina. She had RAVE reviews and then she went bananas and left so many brides hanging. I don't know if those ladies have even gotten their money back yet!

jmannix84 Posted: Jul 05, 2011 04:24 PM

Re: Paying vendors in advance?

Posted by bride2be2012

As reputable as your vendors may be, I don't think it is a good idea to pay all the money upfront if you don't need to pay it just yet. Maybe consider opening up a separate checking account that you can use until the wedding and put any money for vendors into the separate account so you won't be tempted to spend it.

yeah, i know this was what i was originally thinking. I don't want to take any chances. i'll just have to keep it aside and not touch it. Thanks for your input

LindsaylovesJustin Posted: Jul 05, 2011 05:13 PM

Re: Paying vendors in advance?

This!

We went to TDBank and opened a passbook savings account... that way we are not tempted to touch the money..

basically you and your FH have to go into the bank together to withdraw and you cant do anything online or at an atm... this was best for us since we are shopaholics lol

leesah85 Posted: Jul 05, 2011 05:16 PM

Re: Paying vendors in advance?

Posted by jilliibabii

I'd be very careful paying vendors up front. Just look at Flowers and Designs by Gina. She had RAVE reviews and then she went bananas and left so many brides hanging. I don't know if those ladies have even gotten their money back yet!

ITA with this - also, as little as it may be, your money in your bank accrues interest in a savings account, so you might as well get some interest on your money

i get about $50 a month from our interest and even though that's not really a lot of money, i've been engaged since 12/09 so i've basically gotten almost $1000 'free' over that time

HTH

SoonToBeEMM Posted: Jul 05, 2011 06:11 PM

Re: Paying vendors in advance?

i understand how you feel. i really want to pay the vendors now too because we have the money and im afraid im not budgeting correctly. But I am not going to do it because i jsut dont think its a good idea. You never know whats going to happen with some of these vendors closer to your wedding even though they are very reputable

Irishbride16 Posted: Jul 05, 2011 08:22 PM

Re: Paying vendors in advance?

Im doing that..i mean my wedding is in two years so FH and i are paying little by little ...its so much better b/c i feel the same way i dont want to pay everyone at the end that would be a pain to me

dunnkat Posted: Jul 05, 2011 08:25 PM

Re: Paying vendors in advance?

We have been paying them off one by one, the only one we will do the day of is hair and make up.

Jmrosa1 Posted: Jul 05, 2011 08:42 PM

Re: Paying vendors in advance?

I like the idea of the envelopes. We have the money for our main vendors already...and I'm not tempted to touch it, but I worry about budgeting correctly. So maybe putting it in envelopes will help me budget, since I am a visual learner. lol

SummerBeauty Posted: Jul 05, 2011 08:47 PM

Re: Paying vendors in advance?

Hope your envelopes are locked safely away =)

adamsgirl2011 Posted: Jul 05, 2011 10:41 PM

Re: Paying vendors in advance?

Posted by bride2be2012

As reputable as your vendors may be, I don't think it is a good idea to pay all the money upfront if you don't need to pay it just yet. Maybe consider opening up a separate checking account that you can use until the wedding and put any money for vendors into the separate account so you won't be tempted to spend it.

that's what we did... we opened a joint account at a bank neither of us has an account at. We keep putting the money there so we will have it by the wedding... I wouldn't pay anyone beforehand- you never know what could happen.

MarryingMyBFF1110 Posted: Jul 06, 2011 07:21 AM

Re: Paying vendors in advance?

Posted by adamsgirl2011

Posted by bride2be2012

As reputable as your vendors may be, I don't think it is a good idea to pay all the money upfront if you don't need to pay it just yet. Maybe consider opening up a separate checking account that you can use until the wedding and put any money for vendors into the separate account so you won't be tempted to spend it.

that's what we did... we opened a joint account at a bank neither of us has an account at. We keep putting the money there so we will have it by the wedding... I wouldn't pay anyone beforehand- you never know what could happen.

This

lisam1113 Posted: Jul 06, 2011 07:36 AM

Re: Paying vendors in advance?

We're doing the envelope thing. FH wanted to pay them all off but I told him.. 'what if one day they are not there anymore & just go out of business or something happens' I made envelopes for FH to put the money in when he feels like giving them money, so he just puts it in there..

FutureMrsGTL Posted: Jul 06, 2011 10:47 AM

Re: Paying vendors in advance?

I wanted to pay vendors in advance but FH convinced me otherwise. Even if they are reputable, they could still go out of business, etc.

We set up a budget and put away X amount of money every month into an account strictly for wedding stuff.

KristynLeigh Posted: Jul 06, 2011 12:00 PM

Re: Paying vendors in advance?

Call me paranoid but I am not giving a vendor a cent more than I have until my contract says. I've heard the horror stories and I DO NOT want to become one of them. lol

ewecki825 Posted: Jul 06, 2011 06:07 PM

Re: Paying vendors in advance?

FH and I were thinking about paying off the vendors so that we know that everything is taken care of by the time the wedding comes around but god forbid they go out of business we would lose all of our money. Also, if you give them all of the money then you have nothing to hold over their heads.