Weddings are (hopefully) a once-in-a-lifetime experience and you want to do everything you can to make the day a memorable one. When the economy was racing along, spending on weddings got out of control.

The good news is that it is possible to have a wonderful day without breaking the bank.

Here are some suggestions to help you keep costs down:

1. Go Back to Basics

When you get down to it, all you really need for your wedding is your beloved and yourself, a couple of rings, someone to officiate at the ceremony, and two witnesses. Anything else is really just window dressing. Do you really need to have a full formal wedding with a large wedding party? Make a list of the things that you “must” have and be flexible about the parts of the day that would be “nice to have.”

2. Think Out of Season Dates

The prime wedding season runs from Easter to September. If you are prepared to be flexible about the date, you can make your wedding budget go further if you decide to get married in the fall or winter. (The slowest time for weddings is January, by the way, and holding the ceremony then is one way to get your New Year off to a great start.)

3. Keep the Guest List Small

If you haven’t seen or heard from someone in five years or more, then don’t think that you are obligated to invite them to your wedding. The same rule applies to your boss, your co-workers, and the bowling team. You get the idea here. Invite only your nearest and dearest to share your wedding day with you; it will help to keep costs down.

4. Rethink the Formal Reception Idea

While your dream wedding may include a reception at a hotel for a few hundred guests and a multi-course sit-down dinner, that may not be in your budget. No problem; you just need to be a bit creative. When you are looking at possible wedding reception locations, ask to see a range of options for the meal. A buffet may be less expensive than a sit-down dinner, or you may choose to have an evening wedding with a cocktail reception afterward.

You may want to re-think the idea of an open bar all evening, too. One option is to have an open bar before dinner and serve a wine of your choosing with the meal. You could choose to serve beer and wine only if the alcohol will be on your tab to keep costs reasonable.

A wedding reception doesn’t necessarily have to take place in the evening. You can also choose to have the ceremony earlier in the day with a brunch or luncheon following. Menu prices will be lower with this option.

5. Avoid the Words “Wedding Cake”

Here’s a way to save on the cost of the cake for your wedding. If you plan to serve the cake at the reception, buy a sheet cake instead of a formal “wedding cake.” Those two words tend to drive up the price. If you want a cake “for show” and will be serving a different dessert at the reception, then order a small one or ask about the cost of having one or more layers being “fake.”

There are many ways that you can save money but still have a lovely wedding. With a little creativity, you can have a wonderful celebration and keep some green in your pocket.

Current economic conditions have made life challenging, to say the least for many families. At the same time, the recession has created some interesting opportunities for people who are interested in getting into the housing market. Mortgage interest rates are low, and the federal government is offering tax credits for buyers. What do you need to consider before you decide to take the plunge?

Here are five tips you need to keep in mind:

1. Consider Housing Costs

With interest rates currently at historically low levels, it may be tempting to put in an offer on a home that is a bit of a financial stretch for you. Along with the mortgage payments, you will also need to budget for property taxes and utilities. There will also be expenses connected with maintaining the property, even if you are not planning on doing any renovations right away. Consider these costs carefully before you make an offer.

2. Making a Long-term Commitment to a Home

While right now may be a good time to consider buying a home, keep in mind that prices may drop further in the short term. If you know that you will be staying put for several years (at least five), then now is a good time to think about buying a home. On the other hand, if you see yourself moving in the next couple of years, you may want to hold off on committing to home ownership for the time being.

3. Think of Your Needs First

If you have checked your budget numbers and you decide that you can afford a home and you will be staying in one place for the foreseeable future, you can start figuring out what features are more important to you in a home. Some home buyers want to live in a certain area or close to shopping and recreational facilities. People with children will want to find out about day-care facilities, schools, parks, doctors’ offices, etc., in relation to the house they are considering. These kinds of the things are “must-haves” when you are looking for a home.

4. Your “Wants” Are Not Needs

Just about everyone has a list of things they would like to have in their “dream” home. As long as you are willing and have the means to pay for them, it’s not a problem. You may want to keep in mind that it’s perfectly all right to get into the housing market with a starter home, build up some equity, and then move up to the big honking house that you really want. You may “want” the home theatre, whirlpool tub, and granite counter tops, but do you really “need” them?

5. Shop Around for the Best Mortgage

There are many options available to home buyers who are looking for a mortgage. Not only are there many lenders offering financing, but there are different kinds of mortgages offered by the same lender. Consider the interest rate, payment options, and amortization period, and any required fees before you sign any mortgage documents.

The recession may translate into a buyer’s market, but you still need to be smart about it. Consider your budge, how secure your job is, and separate the things you must have from the stuff on your wish list to make the right choice for you.

This week American Express (AMEX) let the cat out of the bag on their strategy for dealing with the imminent spike in credit defaults: entice people to pay off their credit card balances BEFORE they lose their jobs.

Of course, American Express is not spinning it in quite those terms. Their PR firm decided it would sound best to say they are helping people “simplify” their finances.

According to the LA Times:

“American Express Co. is paying some cardholders $300 each to close accounts so the lender can reduce the risk of defaults as the recession deepens.”

“What AmEx is trying to do is move to the front of the line in terms of getting paid back” by customers who owe debts to multiple lenders, said Michael Taiano, an analyst at Sandler O’Neill & Partners.

In the meantime, the ability to get an American Express credit card seems as easy as ever with thousands of online credit card affiliate sites still featuring the Blue and Platinum cards.

Perhaps American Express strategy here is to replace the card holders who carry a balance with card holders who will actually use their card a lot and pay it off in full every month.

In the future will our cell phones be our credit cards?

The New York Times recently featured an article asking us to imagine “a technology that lets you pay for products just by waving your cellphone over a reader”.

That’s not a new idea. It’s been around for a while. In fact, a while ago, the idea of using an iPhone as a credit card emerged out of a real world situation.

The benefits are obvious: why carry around lots of things when you could just carry around one thing – your cell phone?

But, the New York Times argues that there are too many separate entities with competing interests involved in the process required to turn cell phones into credit cards. Until there is a unified and concerted effort to make this happen, chances are we could be in the same position ten years from now. It’s going to take a leader. A pioneer.

Our bet is that if anyone does it, it will either be Apple or Google. Two companies that know how to make things happen.