Wedding Budget and Containing Costs
Wedding Budget and Containing Costs
While experts say that weddings will still take place in these tough economic times, savvy brides and grooms are finding ways to have the weddings of their dreams without breaking the budget. Today, it is estimated that fewer than 25% of weddings are funded by bride’s parents alone. With costs going through the roof, it’s not unusual for families to pool their resources. For that reason, the couple and their families should talk about the wedding budget early so overspending does not mar the celebration. While the time of year, geographic location and expectations will all drive the costs, weddings can be expensive. Set your budget well below what you are likely to spend because unforeseen expenses can add up.
Here are some other tips that have helped brides and grooms plan a wonderful and affordable wedding.
1. Determine which items are the most important to you. Once the wedding budget is set, and you have spending guidelines, know which costs are firm and which are negotiable. If you have your heart set on a particular gown, look at cuts in other budget items like flowers or photographs or food. Maybe you don’t need expensive out of season orchids or fabulous but out of the ball park cake.
2. If you get a chunk of cash early on - say a contribution from your parents or his - invest in a short term CD which can earn interest in the time before you need to pay vendors.
3. Establish a separate savings or checking account and start stashing away 10-15% of your paycheck well in advance of the wedding. Avoid putting much of the wedding expenses on credit cards.
4. If you have no idea where to start budgeting, use this model from REAL SIMPLE WEDDING. Use their percentage recommendations as a way to begin looking at potential cost allocations. You can always change or shift depending on your final plans. They recommend the following % as a way to begin the budgeting process. Reception - 50%, Attire - 10%, Flowers/decorations - 10%, Music - 10%, Photography/Videos - 10%, Favors and Gifts - 3%, Ceremony - 2%, Stationary - 2%, Wedding Rings - 2%, Transportation - 1%.
5. Consider holding your wedding in non peak dates and times. Getting married on a Friday night in January rather than Saturday night in June can make significant difference in costs of receptions, photographers, music and transportation.
6. If you really want an evening wedding, plan it later - say 6:30 or 7:00 pm and follow it with a desserts-only reception rather than a full sit down dinner. Wow your guests with some amazing desserts. Offer champagne and specialty coffees from an espresso bar.
7. Keep church flowers simple. It really isn’t necessary to have flowers on every pew. Keep the flowers near where you’ll be exchanging vows. Use rental greens instead of floral arrangements - Lots more show, lots less money.
8. Unless it has been your lifelong dream, revisit whether or not a limo is necessary. It is likely that you will be among the last to leave the church. By the time you get to the reception site, most of your guests will already be there inside. You’ll get their just as quickly in your own car.
Do contact us at info@bluestoneweddings.com for more ideas on how to have the best for less. Our experienced consultants have many creative ways to help you plan.
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