Hey guys, this is Jeffry’s wife, Sarah. I manage a blog about weddings, and Jeffry asked me to write a post for him today. Since I don’t know as much about managing money as I do about weddings, I figured I would stick with what I was good at. Weddings can be a huge and costly endeavor, and if you’re not careful, you could wind up spending a whole lot more than what you had intended. Statistics show that the average American wedding costs around $28 k. Crazy huh? That’s like a brand new (nice) car for the festivities of one day. I remember when we were planning our wedding, Jeffry was astounded at the costs some of our wedding vendors were wanting to charge. Most couples today wanting to get married can’t afford to spend that kind of cash to pay for their wedding. Whatever the case, it is advisable that every couple create their own wedding budget to help manage their spending while doing their wedding planning. Coming up with a wedding budget can be difficult, and here are some pointers to help you get started.
Determine Your Available Funds
Perhaps the first step in determining your wedding budget is to consider how much money you will have to spend on your wedding. This includes any money from parents and other family members, as well as any money you are planning on spending yourself.
Determine the Type of Wedding you Want
This is something that I cover extensively in my blog. If you only want to have a wedding with close friends and family, then you will not be looking at the kinds of costs that you would if you were planning a larger wedding. Also, another great piece of advice is to determine where you want to spend the bulk of money that you have allotted for your wedding. If you want to have a totally elegant and beautiful wedding ceremony, then spend the bulk of money on your church decorations, flowers and dress, and only have a small snack reception, or cake and punch reception.
Determine Your Costs
This step in creating your wedding budget can be a bit tricky, and will require some work. You’ll need to start getting initial pricing from such vendors as your wedding location, your caterer, florist, photographer, the dress you want and more to get an idea of what everything is costing, and adjust your budget accordingly. Don’t be afraid to negotiate, and get your pricing in writing, with how long the pricing will be good for. Talk to as many vendors as you can, and look for ways to cut cost.
Adjust Your Wedding Budget Accordingly
Once you have all of your pricing, you’ll have an idea of what kinds of funds you’ll need to get the kind of wedding that you want. If you find you’ll need extra funds, then you can look for ways to cut costs, or just look for a short term loan at a low interest rate. With the Fed lowering rates, you’re sure to get a great interest rate on a loan.
I can’t tell you how easy it is to go over your wedding budget if you aren’t careful. I remember I had a really difficult time staying within my budget, and even went over my budget a little bit right at the end. There are lots of tips and tricks that you can use to cut costs at your wedding, so take advantage of all the information that you can to help ensure that you have the wedding of your dreams, at a cost you can afford.