Even Staff

2015-09-27

Cutting Costs, Not Corners

Your engagement is a heady time, filled with love, romance – and too often, an overwhelming amount of financial stress. It seems like as soon as the question’s been popped, you’re worrying about trimming the guest list and how you’ll afford all the vendors, food, and venue you want. So what do you do? Wake up the morning after the proposal and decide to start saving now, in the hopes you’ll be able to afford your dream wedding three years down the road? Max out your credit cards for the sake of having a martini bar? Take a loan on your 401k to pay for your wedding dress? These are serious questions for a lot of couples, especially if they’re not particularly well-off. But there are better ways to deal with the financial burdens of what’s supposed to be one of the happiest, not most stressful, days in your life. You can always take the personal loan route, but there are plenty of ways to reduce wedding costs before you reach that point.

 

1. Get creative and DIY.

 

Limited funds doesn’t automatically translate to limited wedding options. Pinterest, Etsy, and the countless wedding blogs out there are filled with fun, beautiful ideas that will keep you well within your means. And if hand-crafting your favors or learning calligraphy to write your invitations seems like too much of a time-suck, remember that you’re not in this alone. Most people are eager to be involved in the wedding planning, so take advantage of their talents. Your crafty mom can make centerpieces, your college roommate can apply her accounting skills to tracking the budget, and your sister will be thrilled to show off her  culinary prowess by baking you a unique and delicious cake. Let people know that you’re looking for quality wedding deals, as well. You’d be surprised at who in your network is related to a great hairdresser or can hook you up with a solid DJ at a discounted rate.

 

2. Crowdfund your honeymoon.

 

With so many people living together before tying the knot, many already have all the appliances, flatware, and bedding they need. But they don’t always have the savings to cover their dream weddings and their dream honeymoons. If you’ve got all the bath towels and wine glasses you can handle, consider asking loved ones to help you pay for that first trip as a married couple. Credit Sesame recommends using a site like OurWishingWell.com to encourage guests to give money instead of household gifts. Honeyfund.com was built specifically for this purpose, and it offers a breakdown of honeymoon packages so people can chip in where they’re able. For instance, the registry for an Italian getaway includes a set of rail passes at $45 a piece, a $90 candlelit dinner, and airline miles. The cost for bigger ticket items, like the flights, is broken down into several smaller gifts of $60 or so each. This allows a group of guests to contribute toward the cost, instead of making the bigger ask of several thousand for the entire plane trip. Marketplace lending is another option. 

 

3. Rent your wedding gown.

 

This can be a tough one to swallow if you grew up envisioning yourself in a custom white dress that you’d pass down through the generations in your family. But wedding gowns are a huge expense, especially for a single day’s use. Brides on a budget often find themselves stuck between spending outside their comfort zones to have their perfect dresses or settling for a less costly (and less exciting) gown. Rental and pre-owned options give brides a much wider range of possibilities that won’t break the bank. Rent the Runway’s bridal collection includes a number of designer pieces for a fraction of the retail cost, and BorrowingMagnolia offers rentals that fit a number of budgets. And when you’re not shopping to own, you can likely afford a nicer dress or a more exclusive designer brand than you would if it was a permanent purchase.

 

4. Nix the frivolous traditions.

 

Sit down with your future spouse, decide on your must-haves for the ceremony and reception, and feel free to eliminate anything that doesn’t feel authentic. People often assume they need to include all the traditional elements, such as a religious service, a sit-down dinner, elaborate printed programs, and a multi-tiered cake. But each of those details costs money that you could spend on more important priorities, such as the band, or the cocktail hour, or a swanky suite for your wedding night. If you’re going by the Facebook albums your old high school classmates are posting, it’s easy to assume your wedding has to be an over-the-top affair that puts you tens of thousands of dollars in debt. But if you’re willing to do a little leg-work and let your loved ones lend a hand, you can have your perfect day and keep your savings in tact, too. 

Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content

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Even Financial Partners with Figure to Add Blockchain-Enabled Personal Loan Products to its Financial Services Marketplace
EVEN
Even Financial Partners with Figure to Add Blockchain-Enabled Personal Loan Products to its Financial Services Marketplace
New York, New York – June 2, 2021 – Even Financial (“Even”), the leading search, comparison, and recommendation engine for financial services, has announced a new partnership with Figure to launch the company’s personal loan products on the Even platform. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services acquisition by seamlessly bridging financial institutions and channel partners via its industry-leading API and embeddable solutions.   Figure is a fintech company that leverages AI, blockchain, and analytics to deliver innovative consumer financial products with speed and ease. Figure has dramatically decreased the time it takes for consumers to secure loans and has significantly reduced the costs associated with loan origination, servicing, financing, and capital markets execution. The company was founded in 2018 to unlock new access points for consumer credit products that can transform the financial lives of its customers. In addition to personal loans, it provides mortgage refinancing and home equity release solutions, including home equity lines of credit, home improvement loans, and home buy-lease back offerings for retirement.   Figure is an exciting, advanced provider that is driving transformational change in consumer credit,” said Phill Rosen, Founder and CEO of Even Financial. “We’re thrilled to welcome them to Even’s unparalleled network of loan products.”   Shwetabh Gautam, Director of Financial Institution Partnerships at Even added: “We continue to see a strong resurgence in the demand for lending products across the millions of consumers Even surfaces offers for each month. The addition of cutting-edge partners like Figure strengthens our ability to connect consumers with the loans best suited for their unique needs.”   Even offers the largest network of premium, API-connected loan providers. Enterprises and established publishers such as MoneyLion and TransUnion partner with Even to power financial product offers for loans and other financial services including insurance, credit cards, and savings. Within loans, Even continues to expand its vast offering, recently launching products for secured lending, line of credit, and auto refinancing.   The launch of Figure on the Even platform enables consumers to get matched with personal loans of up to $50,000. Figure offers a 100% online application that allows applicants to apply and see their rate in minutes and access funding in as few as two days.   “Phill and the team at Even share our vision of leveraging blockchain technology to make financial services simpler, faster, and personalized. Through the Even platform, we will be able to reach a broader and more diverse set of consumers seeking our innovative credit products,” said Brad Simmons, CMO of Figure.   Even has continued its rapid growth trajectory in 2021, facilitating over $3 billion in consumer credit issued through its API and expanding its platform to over 400 partners. Earlier this year, Even was named one of “America’s Best Startup Employers'' by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.    About Even Financial Founded in 2014, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. As the leading search, comparison, and recommendation engine for financial services, Even seamlessly bridges financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as MoneyLion and TransUnion) via its simple yet robust API and embeddable solutions. Even turns any consumer touchpoint into a comprehensive financial services marketplace with full compliance and security at scale. The company is backed by leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, Fidelity’s F-Prime Capital, Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Learn more at www.evenfinancial.com.  About Figure Figure is transforming the trillion dollar financial services industry using blockchain technology. In three short years, Figure has unveiled a series of fintech firsts using blockchain for loan origination, equity management, private fund services, banking, and payments sectors – bringing speed, efficiency, and savings to both consumers and institutions. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar business under his leadership as CEO. Learn more at www.figure.com.   Media Contact media@evenfinancial.com
PYMNTS: Even Launches Embedded Finance App on Salesforce
PYMNTS
PYMNTS: Even Launches Embedded Finance App on Salesforce
Now, financial advisors and other businesses will have a way to leverage Even’s platform for their clients. ‘Financial Products for Salesforce’ - Powered by Even, a plug-and-play app available on the Salesforce AppExchange, matches consumers with real-time, personalized financial product offers.   Click below to read more at PYMNTS.com.
Even Named to Forbes’ List of “America’s Best Startup Employers” for 2021
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Even Named to Forbes’ List of “America’s Best Startup Employers” for 2021
After evaluating 2,500 American startups with at least 50 employees, Even has been named in the Top 500 of Forbes’ second annual list, which recognizes companies that stand out in: employer reputation, employee satisfaction, and growth.   Click below to see full listing.