A wedding is one of life’s major events that seems to require a larger and larger budget. Today’s post is a guest post! There are some great tips for you on how to save big on your wedding budget.
Catherine Burke is a financial writer for https://www.onlinepaydayloanconsolidation.com/. She provides information on successful cash loans and payday loan consolidation to help people get over a difficult patch. She lives in Kansas and has earned a frame in the matter of payday loans.
Planning a wedding budget is not as easy as it seems to be. You have to be cautious that you should not overspend. Otherwise, you will be unnecessarily stressed.
The Knot data reveals that the average wedding cost in the US is about $35,329. The amount is not negligible, and it doesn’t include honeymoon expenses.
Though we all have a dream about a lavish wedding, you should not go into debt just for making your wedding a splendid one.
That is why creating a wedding budget is so essential.
LET US DISCUSS HOW TO FORMULATE YOUR WEDDING BUDGET
In the pre-wedding period, discuss with your parents and close ones and estimate your wedding expenses.
You can look at these wedding categories and estimate how much money you will need to spend on each of them.
A. THE WEDDING CEREMONY
You should allocate 10% of your wedding budget for the wedding ceremony.
B. THE RECEPTION PROGRAM
Maybe, the reception will take out the biggest fund from your wedding budget. You should allocate 50% of your wedding budget for the reception program.
C. PHOTOGRAPHY
Photography is one of the necessary items in the wedding ceremony. The wedding still pictures and videos will help you to remember your wedding ceremony forever.
For photography, you can spend 10% of the money from your wedding budget.
D. THE WEDDING DRESS & MAKE-UP
The wedding dress is an integral part of your wedding budget. You need to allocate a minimum of 10% of your wedding budget for buying a sober-looking wedding dress and for your make-up.
E. THE WEDDING PLANNER, IF YOUR WEDDING BUDGET ALLOWS
You may consult a wedding planner if your budget permits you to hire one. A wedding planner plans and manages the client’s wedding.
The wedding planner, with its professional touch, can make your marriage perfect. The point to remember is you can only consult a wedding planner if your budget permits you.
However, you should not allocate more than 10% of your wedding budget for consulting the wedding planner.
F. THE MISCELLANEOUS EXPENSES
After allocating all the expenses from your wedding budget, there will be only 10% of the amount remaining in your account.
You can designate the remaining 10% amount for spending in the miscellaneous section.
FIVE FRUGAL WEDDING TIPS THAT MAY HELP YOU AVOID OVERSPENDING
1. INVITE A PARTICULAR NUMBER OF GUESTS THAT YOUR BUDGET PERMITS
In your wedding’s zeal, you should not make an unlimited guest list and don’t think about inviting people you don’t know very well.
Maybe the best way to create a perfect guest list is to reduce the 20% guest number from the list you have prepared. It will help you make an ideal guest list permitted by your budget.
2. CHOOSE YOUR WEDDING VENUE CAREFULLY IN REGARDS TO YOUR WEDDING BUDGET
A wedding venue is another important factor which you should consider after looking at your budget.
Statistics reveal that the average wedding venue cost in the US is $12,000 to $14,000. So, it would be best if you are careful about choosing your wedding venue.
Apart from it, take care that your wedding venue’s cost does not exceed your budget limit.
3. KEEP WEDDING VENUE DECOR SIMPLE
You don’t need to spend your hard-earned money to make gorgeous decorations at your wedding venue. A simple floral decoration is sufficient to ornate your wedding venue.
Now, you can have a look at the three simple ways of decorating your wedding venue.
- The economical way of decorating your wedding venue is by making arrangements of greenery with some floral accents.
- You can use small plants or flowers while decorating your wedding venue.
- The mirrors with tealight candles are also a great way to decorate your wedding venue economically.
You can use other ideas to decorate your wedding venue in a budget-bound way.
4. RESEARCH & BARGAIN TO SAVE YOU FROM GOING OVER YOUR WEDDING BUDGET
The article won’t be complete without mentioning a key point. It will help if you do not forget that you have to do thorough research about every matter attached to your wedding. For instance, compare a shop and select a suitable wedding venue that fits your budget. If you can organize your florist, it will cost you less than the wedding venue’s florist.
Along with researching, bargaining is essential too. You can save some dollars for sure if you buy the wedding things after negotiating the price. By doing so, you can avoid the debt burden.
Many people take out payday loans for their wedding. It is better to avoid it. You are getting the money quickly, but it has an astronomically high, nearly 300% interest rate. You have to repay the entire loan amount with an interest rate with your next paycheck. It is not always possible.
However, suppose you have already taken out a payday loan. In that case, you can take help from a debt specialist to negotiate with your payday loan company about a payday loan settlement offer to repay the debt.
Otherwise, you can be a victim of harassment by the debt collectors.
5. DON’T’ OVERSPEND ON THANK YOU CARDS & INVITATIONS
There will be no benefit if you spend unnecessary money on your wedding invitations and Thank You cards.
You can save money by sending the invitation cards online. Thus you can save some dollars as well as you can reduce paper waste too.
Final words,
You should remember one crucial point that is marriage is all about being happy. Even DIY (Do It Yourself) wedding ideas are not bad either. You can find it out on Pinterest about innovative DIY wedding ideas.
Marriage is about cent percent happiness. Spending unnecessary money is a secondary matter here. So, rather than thinking about a lavish wedding, keep your wedding ceremony simple and not shell out more than your budget.
“The highest happiness on earth is the happiness of marriage.
William Lyon Phelps
Next week I’ve got some more wedding related money advice on the five money discussions to have before you say those vows. Have a great week and stay frugal my friends!