Getting married is such a euphoric moment, but remember that a wedding celebration also entails a major expense. In fact, in a 2023 national report, the average cost of a wedding in the US is $29,000, and in larger US cities, that expense can soar up to $35,000 and beyond. Indeed, you’re not imagining things—weddings are expensive, especially if you want a grander one!
So if you plan to wed this year or in the next couple of years perhaps, then don’t make the same mistake that many newly engaged couples did—saving until a wedding proposal. Stay focused on what’s important, don’t get overwhelmed by the pressure, and most importantly, give yourself enough time to PLAN and BUDGET.
How to Budget for a Wedding You Will Love
Effective budgeting is the key to staying within your means for your wedding day because the last thing you want is a wedding that would make you anxious after the celebration. Fortunately, there are many ways you can save big on your dream wedding without sacrificing quality, and we’ve put together the five best ways to achieve this.
1. Map Out Your Wedding Day Funds
Wedding planning includes various expenses, covering everything from the venue and catering to the dress and decorations, and this can feel really overwhelming because you need to be proactive and meticulous with all the details.
To spare yourself the stress of financial planning, start by mapping out your wedding day funds. This means breaking down your budget into categories, and deciding how much you want to spend on each. Consider what matters most to you and your partner as you plan, as this sets the foundation for a budget that mirrors your values and the ideal celebration you envision.
But here's a helpful tip: Make your budgeting even easier by using a tool like a wedding budget binder. It’s essentially a day planner for your money that makes the whole process more streamlined and tangible. Or, if you want to tuck away your cash in labeled envelopes for real-time tracking, then a budget binder with envelopes is a more compelling option.
2. Prioritize Must-Haves Over Nice-to-Haves
The excitement that comes even by just imagining the big day can make couples decide impulsively to incorporate every idea (although not essential) into the celebration. But you know what, you don’t have to spring for every traditional expense other couples are doing.
Instead, develop a clear list of must-haves in the early planning process, so you can resist the urge to make decisions on the spot.
Remember that some of the most expensive wedding features aren’t necessarily essential ones, such as wedding favors, reception entertainment, or a photo booth. You don’t have to jump on the bandwagon because a dream wedding doesn’t have to drain your finances.
3. Opt for Off-Peak Wedding Seasons
Does the time of the year help bring trim down wedding costs? The simple answer is yes! Wedding season, as they call it, is that time of the year when most weddings happen and you know what that means—venues and vendors may charge premium prices due to high demand.
Wedding season typically falls between May and October, so consider scheduling your wedding away from these popular months to secure better deals on venues, catering, and other essential services.
4. Compare Vendor Prices and Negotiate
Clearly, some wedding features are more expensive than others (e.g., the wedding dress and reception venue), while others are much cheaper (e.g., the cake and invitations). However, regardless of their associated costs, it would save you big if you could get the best deals on both. How? Learn to negotiate with the vendors!
Each vendor offers a unique set of services, and their prices can vary. It’s a good practice not to settle for the first option you come across. Instead, take the initiative to explore different choices and pay attention to the details of what each vendor includes in their packages to make accurate comparisons.
Once you have a few quotes in hand, don't be shy to negotiate. Vendors are often open to discussion, especially if you express genuine interest in their services.
5. Curate A Manageable Guest List
The more people you invite, the more services you'll need – it's simple math. From venues and rentals to catering, vendors often charge per head for these services. So while it would be amazing to invite everyone, keep it practical to ensure a comfortable and enjoyable celebration for all.
If faced with a tight guest list, consider an A and B list strategy. Start with your must-invite A-list, consisting of those near and dear to you. Focus on close family members and friends who have been a significant part of your lives. If space allows, gradually extend invitations to your B-list.
Key Takeaways
Would you prefer celebrating your wedding day lavishly, only for it to last one day and then face accumulated debts afterward? Or would you choose the path of carefully planning your finances?
Your peace of mind is just as important as the success of your wedding. So avoid the stress of an unexpected expense—plan with precision with our wedding budget binder with zipper and envelopes. It’s yours to customize according to the details you want for your wedding.
We’re sure you’ll love it!