Deciding Your Wedding Budget

You decide on a wedding budget during this stage of the planning process.  You’ll decide on what you can afford and what you can’t.  You’ll decide on the things you must have versus the things you can live without.  You may not be able to afford all the lavish things you want for your wedding, but I’ll show you ways to make some things affordable. 

The key to planning a wedding on a budget is deciding on what you want to spend a whole lot on.  You have to decide what things you won’t skimp on.  I’ve found a lot of couples have one thing in common when it comes to wedding planning.  They all want a memorable event.  We’ll look at ways you can do that as well.

I have determined that there are several areas that will need your concentration if you’re going to SAVE BIG MONEY on your wedding costs.  You’ll need to have what I call a sit down heart to heart with your fiancé.  This heart to heart will help you to determine what is a priority for you as a couple.

You’ll need to determine if there are certain things specific to the wedding that you must have.  It could be that you want a certain band to play or a certain color to wear.  It could be a certain location for the wedding or reception.  I know a bride who was hell bent on having her wedding at an exclusive resort.  The wedding chapel was in the midst of a garden beyond belief.  While they spent a ton on money reserving the location, they saved money because they didn’t have to buy flowers.  Once you determine your must-haves, you can then begin to incorporate them into your wedding.

EIGHT AREAS YOU CAN SAVE THE MOST

I’ve determined that there are eight areas where you can save the most on wedding costs.  Here they are.

1.       Food & Bar

2.       Wedding Ring

3.       Wedding Attire

4.       Flowers

5.       Photography & Videography

6.       Music

7.       Honeymoon

8.       Guest List

I’ve compiled a list of some hot bargains from some online stores.  You can see them over at the Resources Section at the end of this module.

Wedding Savings Trend #1   Get married over Thanksgiving       Dinner or Christmas or the Fourth of July even!  More and more couples are opting this as a way to kill two birds with one stone.   You don’t have to worry about paying for a reception hall if you don’t want to.  You don’t have to worry about paying for extra food if you don’t want to!  I believe this is the ULTIMATE wedding savings trend.

Look at these areas and start thinking in the cost saving mode.  Food and bar costs are one of the biggest expenses you’ll have.  You may decide to have a buffet or cater the reception yourself.  You may decide to have an open bar for an hour or not to serve alcohol at all.  These are all cost saving measures that you will want to think about.  

The location where you’re going to have the reception is also a big expense.  Parks, forest preserves and a home backyard are all viable options for you.  You’ll see that I added wedding attire to the list of the areas where you can save the most money.  As we go through the wedding planning process, you’ll want to keep an eye out for discounted wedding attire. 

You can also find some great deals on flowers if you know how to look and what you’re looking for.  I’ve put together a list of more than 250 flowers and plants to help you decide.   A wedding wouldn’t be a wedding without the romantic mood that only flowers can provide.

I had to add the photographer and videographer to the list of biggest expenses.  You will have to pay for a good one, there’s really no way around that!  For me, this is one of the most important aspects as they preserve your wedding memories forever.  You can’t turn back time if your videos and photos are not of good quality.  However, there are ways to skimp without missing out on the memories.  You have to capture the moment of your wedding as only these two professionals can do.

Everyone who is anyone at all in your life will want to attend your wedding!  It’s inevitable that someone is going to be disappointed because they were not invited.  However, keeping a tight lid on your guest list is very important to living within a budget.   A good rule of thumb is not to invite more guests than you can spend a minute with. 

DEVELOPING A BUDGET

The budget is important for obvious reasons.   Heaven forbid, you don’t want to end up spending yourself into a divorce before you’re even married!  A budget gives you strict guidelines to follow.  Overspending will not necessarily give you the wedding of your dreams.  The idea is to do it well without emptying out your pockets. 

This gives you and idea of what your budget should look like percentage wise.  Take a look at it.

1         Reception                                   40% 

2         Bride’s Dress, Shoes, Garter        15% 

3         Wedding Rings                            10%

4         Videographer/Photographer          10% 

5         Music                                         10% 

6         Flowers                                      10%

7         Decorations                                  2%

8         Invitations/thank you cards             3% 

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                                           100%

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