Weddings are a celebration of love, but as every engaged couple knows, it’s a magical day that comes with a price tag. We all wish we had an endless budget, but in reality, it’s something you need to consider when planning.
No matter what your finances are like, you can still have the wedding of your dreams. Keep expenses at bay and avoid starting your marriage off in debt with our five top tips below.
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Start a Wedding Fund
As soon-to-be newlyweds, you’ve probably been saving up for the big day, but maybe the budget isn’t as big as you’d hoped. Why not ask for contributions? You’ll be surprised at how many people might be willing to chip in.
There’s no need to go hat in hand either because you can create a beautiful online wedding fund. Every little bit helps, so let your friends and family shower you with cold hard cash instead of gifts. Not sure how it works? You can find out here. Set up a page and let the contributions pour in. Just remember to do it a few months before you start planning the big day.
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Allocate Your Budget
Once you know what the budget is like, divide overheads into categories and allocate a percentage for each. The reception venue tends to be the most expensive, with food, drinks, and catering usually included in the price.
Other things like flowers, wedding attire, and entertainment are costly too. Do your research – read reviews, shop around, and ask for recommendations. This will give you a better idea of how much money you can expect to spend.
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Negotiate With Vendors
When someone gives you an estimate, whether it’s for the facilities, DJ, photographer, or the cake, ask about making a deal. More often than not business owners want you to book them, so chances are they’ll drop their rates a little.
When you negotiate a price, keep it fair but see how far you can push your luck. If you do this successfully, you could save substantially.
Keep in mind what the competitors are charging. You can bring those rates into the conversation and help persuade the person to lower the price. If they’re still unwilling to budge, make the call and decide whether it’s worth it or not.
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Track Your Spending
When you’re planning a wedding, things can become complicated quickly. So stay on top of your finances and track spendings with an online budgeting app.
Generally, you’ll enter an amount and it’ll calculate costs as you add them. This creates a clearer picture of how much you have left to spend, where you’ve saved, and if you might be going over.
Remember to add each and every small expense. These tend to sneak up on you, resulting in a massive blow to your budget if you’re not careful.
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Make a Little Room
When you’re allocating a budget, keep at least 5% of the total in a category for miscellaneous things. Having this built-in wiggle room provides cushioning for unexpected bills.
You’ll usually stumble across a few hidden wedding costs that you didn’t factor in. These can arise from beauty treatments, marriage license fees, vendor meals, overtime costs, or bachelorette parties.
Emergencies happen and sometimes things go wrong, all creating extra expenses. Perhaps your dress needs altering days before the big occasion. Or maybe the gifts for your parents, the groomsmen, and the bridal party cost more than you anticipated.
Having that bit of extra helps to avoid overspending. What’s more, if you’re lucky and don’t end up using it, that extra 5% could go towards your honeymoon or a down payment.
The Bottom Line
Your wedding day is one of the biggest occasions of your life. It shouldn’t be tainted by unforeseen debts and an overblown budget.
Make sure it’s perfect by starting a wedding fund, allocating costs, and negotiating prices. Also remember to track expenses and allow room for unexpected spending. Stay ahead of your budget and your wedding will be the happily ever after you’ve always dreamed about.