There’s no doubt that a wedding is the most significant event that can happen to anyone’s life. And yet, planning a wedding budget can be a pain in the wallet.
A ceremony, along with the reception thereafter, doesn’t come cheap. In fact, Business Insider found out that people across the United States spend an average $33,391 for a wedding, a huge portion of that amount would go to the venue itself. Add in the gown, logistics, the catering, and other expenses and expect to cut your bank account by two-thirds.
That being said, planning your wedding budget has to be done carefully. It’s not like saying you won’t be having the wedding of your dreams, but it’s very much possible to experience one without actually ending the day with a few dollars left in your account.
Here are a few important tips for planning your wedding budget.
Consider your financial capacity
As much as possible, you may as well look at your current finances and see if you have just about enough to fund your wedding. With that, you will also need to look at your current reserves or savings. Whether you’re planning a year-long for the wedding, it’s best to know your current financial situation.
A good rule of thumb is to never plan a wedding budget that’s extravagant when you’re bound to debt obligations. Settle these obligations first and stabilize your credit standing.
- See if you can get contributions
You don’t have to worry about planning the budget for the wedding of your dreams. Your parents as well as your in-laws can also help in shelling out extra funds for both the ceremony and the reception.
Your friends, meanwhile, can cover certain aspects of the wedding. This allows you to have the peace of mind to hold a wedding you don’t have to pay a great deal of money for.
- Be practical with your venue
If you opt to hold the wedding and the reception in separate venues, expect to spend more than when you’re in a location that’s suitable for both. One thing’s for sure, holding a beach wedding is relatively cheaper since it allows you to avoid added venue costs. Not only is it great for your wedding budget, but formalizing your union by the sea allows for a sentimental feel to the ceremony.
- Get the right catering and staging
What’s a momentous event without great food and especially great catering and staging? When it comes down to choosing a caterer, opt to find a company that allows for a wide variety of exquisite menu options. You will also need to find event rentals that will supply everything you need for the reception, from tables to silverware to a mini-bar.
- Know your priorities
Which aspect do you want to spend the most? How about the least? This is important since you also need to maximize the available funds you have in organizing an enjoyable and memorable wedding. You can either scale down your venue spending and make up for it with the catering. Having an economical mindset will definitely help you organize a truly memorable wedding for less!