to pay off, or not to pay off!!!

azailia Posted: Nov 11, 2008 08:31 PM

to pay off, or not to pay off!!!

that is the question...

so we have the money in our account. i would like to pay off as many vendors as possible before the wedding, so we can concentrate on the rh. do you think it is wise to pay them off now?

HotAir Posted: Nov 11, 2008 08:32 PM

Re: to pay off, or not to pay off!!!

I would like to do that but my FH thinks it's not wise to do.

azailia Posted: Nov 11, 2008 08:34 PM

Re: to pay off, or not to pay off!!!

why? my fh thinks that if we pay them off before they won't give us as much time anymore, or like they won't care because they got their money.

meli722 Posted: Nov 11, 2008 08:35 PM

Re: to pay off, or not to pay off!!!

i have a lot saved up in the bank too, i havent paid anyone off yet. i feel better paying them when everything is due. but its up to you, some people want to get it out the way early, some want to wait.

jayepyt Posted: Nov 11, 2008 08:36 PM

Re: to pay off, or not to pay off!!!

Posted by meli722

i have a lot saved up in the bank too, i havent paid anyone off yet. i feel better paying them when everything is due. but its up to you, some people want to get it out the way early, some want to wait.

me too

megsher Posted: Nov 11, 2008 08:37 PM

Re: to pay off, or not to pay off!!!

I wouldn't do it. I was in a wedding where the florist was a no show. And I've seen too many companies, especially in today's economy, go out of business. I'd wait till you have to.

egem523 Posted: Nov 11, 2008 08:45 PM

Re: to pay off, or not to pay off!!!

I would wait until due. I do not feel comfortable paying for a service way in advance.

coldasice217 Posted: Nov 11, 2008 08:50 PM

Re: to pay off, or not to pay off!!!

I definitely would not pay anyone off in full until the service is rendered. Technically, they would have no reason to show up, and I don't believe in the honor system.

dazies1011 Posted: Nov 11, 2008 08:52 PM

Re: to pay off, or not to pay off!!!

Im waiting til they are due...God for bid something happens, then I cant get my money back

CNC4eva3402 Posted: Nov 11, 2008 09:03 PM

Re: to pay off, or not to pay off!!!

I personally would wait until its due..as long as you can trust yourself not to touch it. I feel like, its not going anywhere and its more secure in your pocket then theirs..you never know what could happen these days!

chicky724 Posted: Nov 11, 2008 09:53 PM

Re: to pay off, or not to pay off!!!

I'm waiting til it's due and keeping it in my savings account so at least we're making a little interest on it before watching it all fly out the window!

gina409 Posted: Nov 11, 2008 09:55 PM

Re: to pay off, or not to pay off!!!

ok im the oddball..fh and i r paying off everything one by 1 just like the feeling of it being paid off

Gracie821 Posted: Nov 11, 2008 09:57 PM

Re: to pay off, or not to pay off!!!

Posted by HotAir

I would like to do that but my FH thinks it's not wise to do.

My FH says the same thing, also if god forbid something happens to the company you are out more money, and you want to make sure they will still give you time. Maybe just put some money in a sepoarate account for wedding only, or just start to put some of it toward the rh. HTH!!!

debzy Posted: Nov 11, 2008 09:59 PM

Re: to pay off, or not to pay off!!!

Money is always better off in your pocket than someone elses. That's Econ 101!

Pay your vendors when it's due. No reason to pay them ahead of time. Just don't spend all of the money in the meantime.

VickiR510 Posted: Nov 11, 2008 09:59 PM

Re: to pay off, or not to pay off!!!

dont pay off teh photgrapher in full until afetr u receive ur proofs. And yes FH & I paid as many vendors b4 the wedding as well. It wa the best thing!

august09bride Posted: Nov 11, 2008 10:03 PM

Re: to pay off, or not to pay off!!!

I agree with the majority of the posters....let them call you once the wedding is closer so you are not the one calling them and reminding them

some vendors cannot be trusted

debzy Posted: Nov 11, 2008 10:03 PM

Re: to pay off, or not to pay off!!!

MrsList09 Posted: Nov 11, 2008 10:04 PM

Re: to pay off, or not to pay off!!!

Maybe pay them a little each month. You don't want to give it all away in case there's an emergency or need to change vendors for some reason.

Bridezilla2009 Posted: Nov 11, 2008 10:27 PM

Re: to pay off, or not to pay off!!!

I agree with everyone else, dont pay until its due! You never know who might disappear these days.

I booked my RH 2 years in advance and wanted to pre pay a couple of my payments and they actually told me not to. They said they have seen people in the past do that and something came up and they needed that money, especially with this economy you never know when or if you will need that money. Plus, its not like you are getting charged interest for not paying them asap, let it sit in your savings account and earn some money!

geegee827 Posted: Nov 11, 2008 10:29 PM

Re: to pay off, or not to pay off!!!

my advice - keep it in your bank account for as long as possible. Even if your earning 1% interest, it's better in your pocket than theirs.
It's great that it's in your account, now basically forget it's there so you don't spend it, and leave it there until you absolutely have to pay the vendors. Just knowing you have the $$ for them and can pay them off will give you peace of mind.