Bride’s Magazine reports that 69% of couples pay for part or all of their wedding. If you are one of those couples this article will provide you with some wedding budget 101 tips on how to create a wedding budget and start planning your wedding.
Where will the money come from?
- Your savings
Do you have a nest egg saved up for a rainy day? This money may be where you start the wedding fund. Ask your fiancé what money they have to contribute also. Just don’t get into your emergency fund for your wedding budget. This is not a true emergency! - From your monthly income
Say you got engaged in January but won’t get married until November. Realistically, how much could you save from the day you got engaged until the day you were married? Look at ways to cut your monthly spending. Do you have an online shopping habit, or belong to a monthly wine club, or go out to eat way too much? If so, these places may be where you can save additional money each month. - From other people
Once you tell your family you are getting married, they may ask if they can help you. Accept their financial support and specifically ask them how much they want to contribute. I like not asking for financial support, but letting them volunteer to help you out. It sometimes puts family is awkward spots if you ask them up front if they want to give you money for your wedding.
The average wedding costs $30,000. If you don’t have that kind of money here are somethings that you shouldn’t do:
– Don’t go into credit card debt
– Don’t take out a loan
– Don’t get sad
Your marriage is about making a commitment to each other in front of friends and family, and not about going into debt to throw a big party.
If the money is not growing fast enough on your money tree:
Reprioritize the important things
What things are important to spend money on and what things are not that important?
For example, maybe you want a name brand dress, or maybe you want an expensive bridal bouquet. These could be things you don’t want to save on. But, you may be open to e-vites instead of paper ones or a DJ instead of a live band or take Uber car instead if a limo.
See what items are pushing you over your budget
Does having a no host bar add an extra $12 per person? Do away with it and have 1 signature drink per person that you pay for. Are the bridesmaids bouquets almost as much as yours? Shrink there flowers to be smaller and cost less. Is your photographer charging more since you want them there for 6 hours? Find a less expensive photographer who will stay the whole day. Could inviting less guests help balance the budget? Consider who you want to invite to your wedding.
Shop around to avoid hidden fees
Don’t settle on your first option for the wedding ceremony and location. Take the time to shop around and see what services other venues are offering. Some packages have hidden fees or extra charges. Try to avoid these fees by asking what is extra. Extra fees include taxes, service fees, parking fees, charges for bartender or bar service, set up and delivery fees, cake cutting fees, or postage.
Think creatively with spending
Some places offer discounts or specials. Our indoor ceremony location gives a room price break if you book the reception there. Some venues offer lower prices for Sundays or mid-week weddings. Pay once for an item and use it twice – this can be done with arch flowers where you use them on the arch and then take them to the ceremony.
See what you can sell
This sounds silly, but it’s a great way to come up with a little extra cash. We had a yard sale before our wedding and got rid of things we really weren’t using. Plus, we were able to make an extra $500 for our honeymoon.
If the budget is still not adding up, consider having a small, intimate wedding or elope with a few close friends and family.
Budget benefits of a small wedding or elopement:
- Financial freedom for your future
- By not going into debt, you and your spouse are able start your life out debt free and have a good financial foundation for your marriage.
- You can spend more on an amazing honeymoon
- Spending money on the important things about the wedding
- More money in your pocket
- You are still getting married, but for a lot less
Let CoastalCaliforniaWeddings.com plan your small wedding or elopement.
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