It’s wedding season! It’s so easy to get caught up in the romance of the event and not think about the costs. Here are some tips to keep you on track while on your journey to the altar.
Decide on a Budget
First, decide what you can afford and stick to it. Here are some ideas on the percentages for some elements of a wedding:
Reception – 50%
Flowers and Decoration – 10%
Photography and Video – 10%
Second, decide which elements are important to you and which you can do without. There is a lot of pressure on couples to spend money that they don’t have, and it is easy to get caught up in the moment. Your wedding can be any way you like it. Don’t like favours? Don’t have them. Would you rather just hook up an iPod and play your own music? Do it. Would brunch at your favourite venue be a more inexpensive option? Go for it.
Have a just-in-case fund
What if the dress needs extra alterations? What if your flower vendor cancels at the last minute? There are always things that can go wrong, so plan to budget about 5% in extra cash to avoid stress.
Read the fine print
If the venue charges extra if you run overtime, make sure everyone is aware of the cut off time. Are some trials with certain vendors not free? Don’t forget to take that into account. Don’t forget to plan for tips as well!
Ways to save
- Put a limit on the guest list if you are hosting a reception and invite others just to the ceremony
- Go simple! If the more expensive detail won’t add much to your day, then considering leaving them out, for example, decorative stone and candles can be used instead of fresh flowers
- Don’t even consider the vendors that are out of price range, that way you won’t be tempted
Remember, it’s your day. Having a budget set up in advance and paying attention to the costs as you go will not only save money at the wedding but also help you reach your other future financial goals!