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Stay away from the spreadsheet! Here’s how to turn your expenses upside down and keep the wedding budget under control…
Top tips to keep your wedding budget under control
Planning a wedding can get expensive – and stressful – very quickly, with the average wedding costing in excess of £21,000.
With wedding season fast approaching, CouponNinja.com money-saving expert Charlotte Marshall shares top tips on how to save as much money as possible for your wedding and keep your wedding budget under control.
Be smart when choosing a date
Before you can put together a budget for your wedding, you need to know how long you have to save. Booking your wedding date as early as possible gives you more time to save money and get organized.
If possible, try to be flexible with your wedding date. Choosing months, days, or times for your wedding that are off-peak and not very busy can help save a fortune. For example, consider picking a day of the week for your wedding as that is the most auspicious, or consider moving the day to fall or winter instead of the peak months of spring and summer.
Put together a realistic wedding budget
Once you have a schedule in place, you need to set a realistic and workable budget for overall spending. Remember the basics:
If those costs add up, you and your partner might want to consider what’s most important to you and what you could potentially cut back on the big day.
Find out what matters most
Have you always dreamed of having a big chocolate fountain or getting to the church in a horse-drawn carriage? Or can you not bear the thought of a party without live music?
When it comes to managing your wedding budget, it’s better to be selective and invest more in the things that really matter to you than to include too many elements and then have to compromise on everything. Sort your must-haves right away and save on less important details.
“Sit down as a couple and list the most important elements of your wedding, then rank them in order of importance to both of you,” say Nancy and Katie, the duo behind planning company Lily & Sage.
“There’s no right or wrong answer — it’s about you as a couple, not what others have done.”
Set a monthly savings goal
Once you know how long you need to save for your wedding day, you can calculate how much you need to save each month.
If you’re sure your family members will be happy to contribute to the wedding, this is a good time to find out how much. While it may not be the easiest of conversations if you simply tell them you’d like to set a monthly savings goal, they’ll likely give you an approximate figure of what they’re willing to contribute.
Keep your wedding party small
You shouldn’t feel pressured to invite anyone to your wedding, especially as the reception (venue, drinks and food) will be one of the most important parts of your budget.
A helpful tip might be to divide your guests into three categories:
- Immediate family and best friends
- Good friends and extended family
- co-workers or casual acquaintances
When it comes to your wedding party, consider reducing the number of bridesmaids and groomsmen to save on expenses like dresses, suits, hair, and makeup.
Think about where you spend a lot
Keeping individual numbers under their ceilings is more about staying within your wedding budget than about spending as little as possible. Splashing the cash is inevitable on some aspects like photographer, venue and attire. Insurance also falls into this category. When you part with your hard-earned cash, it pays to protect large transactions.
Also, it can be economical to invest more in certain things because they save money elsewhere. A well-chosen venue with wow factor can mean you end up spending less on extras such as candle holders, flowers and lighting. Those infamous “little expenses” can really add up.
“Try not to overdo it with decorations,” says Victoria Morris of Sophisticated Weddings.
“It’s easy to get carried away, but often the scenery at your venue is stunning enough. Better spend that budget on keeping your guests comfortable.”
Reduce unnecessary expenses
Cutting unnecessary expenses is good practice every month, but absolutely essential when you’re saving for a wedding. It may be wise to look at your current monthly payments and be honest about cutting things that aren’t a priority. Netflix, coffee, Sky Sports, new clothes – you name it!
Also, make sure to shop wisely for your wedding day. Instead of going to a fancy wedding decor store, try checking out sites like Facebook Marketplace, Etsy, and eBay first — or even checking local craft and party stores can be an effective way to save on things you might need can’t buy do it yourself.
Allow guests to gift you cash
No, we’re not talking about selling shares in your party, inviting investors, or raiding Mom and Dad’s bank. We’re talking about the modern gift list services that allow your guests to gift you cash.
No matter what you think or ask, your guests will definitely want to give you a gift or gesture at your wedding. Extra money as a wedding gift can really help cover honeymoon expenses or pay off any debt you may have on the wedding day.
Asking for money is never easy, but many couples use providers like Prezola and Buy Our Honeymoon to fund their dream vacation as newlyweds. This relieves your own bank balances because you don’t have to budget as much.
The downside is that you can’t predict the value of your guests’ donations. So wait and see what you have before booking if you know you won’t be able to cover any shortfall yourself.
And if you think family members might be interested in contributing to your funding, Jennifer Granlund of Jenny Wren Weddings & Events thinks it’s best to end the conversation early.
“No decisions can be made until you know how much money you have to work with. Think seriously about what your own limit will be, what you want to spend and what you can realistically save.
“Talk to the family about what they could contribute, even if it feels uncomfortable. You can then make plans that are achievable on your budget. Finally, allow a 10 percent contingency fund to accommodate changes.”
Get your craft on
While everyone wants a professional wedding planner to take care of all the little things, these things could cost you the most in the long run. One of the most efficient ways to save money on your wedding is to make certain things yourself, such as: B. Save the date cards, decorations, centerpieces and wedding invitations.
With so much inspiration online, DIY decorations could not only help you save on costs, but also add a more personal touch to you and your guests on the day. Making the day your own is a popular way to save money and keep your wedding budget under control, but use caution.
Sometimes doing it yourself can cost more simply because you don’t have the equipment or access to commercial pricing like professional vendors do (stationery, we’re looking at you). And sometimes it can end in disaster because you take on a task that’s too big or more time-consuming than you thought.
Pick-and-mix planner Laura Devine of Devine Bride knows this well: “My customers often think that DIY details can save them money – and you can, if you put in the time. But most people don’t. You also need the right tools, and before you know it you’ll be spending a fortune on glue guns, wire cutters and washi tape!”
Plan carefully. Would you like to spend the last 24 hours before your wedding de-thorning roses and hand-tying bouquets, or would you rather relax at the spa?
And if you think it’s really viable, do a trial run, or better yet, book a workshop. Armed with the right tools, time, and techniques, your homemade budget wedding plans are better equipped to succeed.
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