Paying deposits in advance?

we are dealing directly with the resort for our wedding buy-out and we have a schedule of big deposits (the next one is due June 1st) and the a huge balance due right before we leave. here is the thing, we have most of the money for the June deposit sitting in the wedding account, do you think there is any downside to paying in advance?

i like the idea of paying now and not being tempted to spend that money on anything else wedding related. i tend to spend a lot of $$ and have really expensive taste and keep coming up with more and more things we should

buy for the wedding. but i am scared that i will regret paying in advance - i am not even sure why?

what do you all think?

My FI is hesitant in paying in advance cause he likes to make interest on the money in the meantime.

I say pay it now and get it off your mind.

Is the money sitting in a high interest bearing account? If so, the longer you keep it in there the more money you can make on it. You just have to discipline yourself not to spend it.

However, my FI is the same way and we paid our deposits well before they were due. He just likes to get it out of the way. One less thing to think about.

alyssa, i too have the money sitting in the bank to pay off several things as of today. im considering doing it. the only reason im hesitating is that we are moving this coming weekend, and in case we need a large sum of money to be available for an emergency or something, i'm paying only for the invitations this week. the money for the photographer and the videographer, i moved into my savings account that's attached to my checking, so if i need to move it around quickly, i can. when im done moving and am all settled in in a few weeks, im going to pay the balance on one or both things. not sure if that helps. but i see no downside to paying things off early when you can!

I'm nervous to pay everything in advance 'cause (bad me!) I don't like to count my eggs before they hatch. When I get stressed I have a hard time staying positive, and I start worrying about all kinds of things. Like what if (Good God forbid) a natural disaster happens and my venue is no longer available. I would lose all my money! (I know I always worry about totally stupid things because like this because our contracts say things like "except in the event of acts of God blah-blah-blah" so of course I freak out about it.)

I would agree to pay it off now. Like you I have the tendency to buy other things. I think it would reduce the stress to have that paid off. Congrats on saving all that!!

I would pay it. I too go crazy buying stuff all the time. Matt wouldn't pay it, he likes to wait til the last possible minute. It's nice to let it gather interest, but it's only a few months, if paying it and not worrying about spending the money will relieve some stress for you, then by all means, pay it early!

I'd sit on it until it was due, you may as well have the interest rather than the hotel, they're already getting a shed load of $$ off you why give them more lol