How am I Going to Actually Pay for My Wedding?
So, finally, the wedding bells are ringing!! And you are all set to embark on a beautiful journey. Ready to open an entirely new chapter of your life. But are you really prepared? Being mentally prepared to get into a commitment of a marriage and exchange those sacred vows is of course important. But are you prepared for all the expenses for your wedding yet?
Your wedding day is going to be one of the most important days of your life and if you want to make it a memorable one, you need to ensure you save enough money. When it comes to your wedding, it is going to be about the money you are willing to spend. But considering the huge number of things that you have to pay for, you often find it difficult as to how to go about doing it.
Fortunately for you, there are certain tricks that can relieve some stress and help you plan better without going broke.
Get Started by Breaking It Down
The simplest approach of accomplishing a huge task is to break it down into simpler parts and doing it one at a time. Your wedding is no exception to this rule. Considering that your wedding is also going to be huge with massive expenses, you would need to start planning for the big day well in advance. You will have to do it in a time-bound manner.
Let’s break this down into meaningful chunks and do some simple math. If your wedding is 24 months away, you should have plenty of time to figure things out. First of all, what is your wedding budget? For the sake of this equation, let’s say $15,000. Divide $15,000 by 24 (which comes out to approximately $625 per month). If that figure is too much per month to save, figure out how to cut back on some of your wedding expenses, create a new side hustle or get a part-time job and/or cut back on some of your current monthly expenses like subscriptions, phone plans, entertainment, etc.
Figure out what’s best for you and your finance and what makes sense for your lifestyle. Be practical and know your limits. Everyone has different circumstances and the time it takes to save will differ greatly.
Allocate the Budget(s)
Once you are done listing your expenses, you will need to allocate and fix an estimated amount to each of these items. For instance, major items such as venue, food, decorations, hotels, and lodging, etc. you can set an estimated budget based on the current market rates for each of these items. Venues and food and beverage are going to cost up to 50 percent of your total budget so make your estimated allocations accordingly. Having a backyard or outdoor wedding can greatly curb the venue cost(s), so consider the great outdoors.
The purpose behind doing this activity is to arrive at a tangible figure that you can work within as related to your wedding expenses. Having an estimated figure in your mind will help you achieve a comfortable savings target that you can accomplish before the day finally arrives. Moreover, knowing your estimated expenses help you to be in a better position to negotiate when you will have to eventually talk to the vendors. In your budget allocations, you will need to ensure that you keep some money aside for miscellaneous and unforeseen expenses. No matter how hard you try, there will be some items or expenses that will go unnoticed in the planning phases.
Research and Get the Best Quotes
Once you have allocated your estimated budgets, you will clearly know what your limits are and how much you can shell out for a particular expense. So, you can then start your research and get the best quotes for the venue, food and other items based on your wedding date. As a best practice, do not settle for anything that exceeds your allocated budget and do not settle for the first quote. Look around, research a bit and you will definitely get some of your chosen vendors to match your estimates or at least somewhere close.
When it comes to food and drinks, look for vendors with catering experience. Mom and Pop restaurants, delis and caterers most often offer great quality and a reasonable price. . As we mentioned earlier, food and beverages may be expensive, but it is one of the most important parts of the wedding. Therefore, you need to be very careful while deciding on the menu. Add something unique on the menu and complement it with unlimited drinks. Trust in your chosen caterer. They will steer you in the right direction according to your budget and wishes. Coming from someone raised in the restaurant business, there are tricks available to making you and your guests happy.
Save Wherever You Can
They say if there is a will, there will be away – and that stands true in almost everything that you do. Try to cut down on expenses, in every little item and expense that you possibly can. That can be anything from as little as saving on stationery by opting for DIY e-invitation cards to throwing a wedding reception party in your backyard. It is your wedding after all – so it is up to you to ultimately decide.
You can start by reducing the number of guests – remove the unwanted and unnecessary once-in-a-decade kind of people or relatives and keep your list small and simple. If you can be flexible with your dates, opt for an off-wedding season date – that will definitely cost less. Similarly, you can save on decorations by opting for DIY options. You can even save a little on your wedding cake as well – simpler the design less the cost. Transportation costs can be cut down too – hire an Upscale Uber car instead of a limo.
Get Started
Though it is certainly a challenge when it comes to planning your wedding, it is not that difficult to save all the money you want for the big day. You may not end up having that lavish, extravagant kind of a wedding after all, but if you plan your expenses wisely you can certainly have a wedding that is going to be a memorable wedding that will be etched in your hearts and minds forever.
