Wedding Budget Strategies
Time is of the essence after getting engaged. That is, unless you plan on hiring someone to take care of all the details i.e. a wedding planner, which by the way runs on an average of $2,500 to $4,000. To help guide you, here are 5 ways to help maximize your wedding budget strategy.
1) Prioritize – Right away, you will want to prioritize your most important aspects of the wedding to your fiancé and you. Will the groom just die if you do not have a Hummer limo? Or, are photos more important to you? They do last a lifetime!
2) In-season / Off-season – Having your wedding during the most popular wedding months are a key indicator that your costs will reflect this as well. A wedding budget strategy here is important because you don’t want to be blind sided by the cost of a venue during certain times of the year.
3) Day of the Week- Saturdays typically tend to be the most popular day to host a wedding. However, many vendors will give deep discounts for choosing a Friday night or Sunday afternoon. If you really like a venue, but the Saturday prices are too steep, consider having the event on an “off” day.
4) Limit Guest List- This might not make you the most favored person, but friends and family whom understand that budget is a big factor should understand. Be choosy about whom you invite. Don’t feel obligated to invite people that aren’t very important to you or you have lost touch with. Just because you were invited to your friend from college’s wedding five years ago does not mean you must invite her to your event.
5) Location, Location, Location – Your location definitely impacts tax, gratuity, and other factors. If you choose a ritzy hotel in the city versus a banquet hall in a rural area you are likely to pay less just because of location alone. Take into consideration that these places also may charge for parking, valet, etc. There are many decisions to consider and finding what is most important is the best way to help figure out where to splurge and where to be conservative.
Wedding budget strategies aren’t hard but they do require work on your part. Just take it one step at a time and breathe!
- Each group contributing to the wedding financially (if you have multiple parties paying), showing their total contribution, anything they have paid so far, and the balance left over
- Each vendor showing total cost, amount paid, balance,and whether there are any refundable deposits (e.g., our venue has one)
- Miscellaneous money-related items to take note of (e.g., amount of cash needed on hand the dayof the wedding for vendor tips)
Everyone could use a little help here and there. Know your limits. If you don’t think you can handle a certain task, do not be afraid to ask your family and or bridesmaids. That is what they are there for. Remember when you asked them to stand by you on your wedding day? Well, they don’t just get to wear a pretty dress and smile. They should get their hands a little dirty too. They may not know you need help and you can’t assume someone will ask you. Don’t be a martyr.