November 30, 2022
Planning a wedding is both exciting and stressful. There are many moving parts to coordinate – guest lists, venues, menus.
Not to mention the fact that you’re making some major financial decisions – maybe your first as a couple. Needless to say, your wedding is a huge milestone. It’s easy to get caught up in the wave of excitement. But it’s also easy to go overboard with spending. One day you get engaged and the next thing you know, you’re looking at your wedding album (along with some potentially major credit card bills).
To keep your wedding costs as reasonable as possible, consider a fresh perspective. Read on for a few pointers to keep in mind as you embark on this new adventure.
Take the time to get your mind in the game
When you first commit to walk down the aisle together, it may be tempting to rush right out and buy your fantasy dress, secure the location where you’ll exchange your vows, and get your order in for your dream wedding cake. But slowing down a little and thinking about what would really make your day special can help corral your wedding costs (so you’ll have that much more for a down payment on your first home, for example).
Set a budget and stick to it
The average cost of a wedding in the United States is more than $34,000.¹ But don’t panic. You don’t have to spend $34,000 to have an unforgettable day. You’ve probably been to wonderful weddings that cost less than $1,000 as well as huge ballroom style weddings that can approach six figures.
Spend as much or as little as you can afford. The important point is to set a budget and stick to it. So sit down with your partner and create a budget you can live with, not just for the day itself, but for your future together. Decide on your most important elements, set the costs for them, and get started checking items off your list!
Spend only on what’s important to you
One thing to keep in mind is that this is your day. Your wedding doesn’t have to be all things to all people. What is most important to you and your fiancé? Love gourmet food? Maybe you splurge a bit on your menu. Into fashion? Maybe your attire is the big ticket item. Don’t care much for alcohol? Skip it and budget more money toward the DJ.
Call in favors and use your friends’ talents
Enlisting help from your friends not only can save money on wedding costs, but it can also make your wedding feel more personal and special. Gather up your talented friends and ask for their help.
Ask close friends to participate in the wedding prep instead of purchasing gifts. Acquaintances? Ask them if they will share their expertise for a minimal fee.
Hint: If your style is more casual, skip the professional photographer and ask your guests to take pictures with their smartphones. You can save a ton of money and end up with great true-to-life photos of your wedding (instead of professional portraits that might look a bit stuffy).
Stay calm and plan on
If you begin planning without a clear vision for how you want your day to unfold, you can quickly get caught up in the frenzy. Vendors and party planners will be happy to sell you lots of extras you may not want or need. So, think carefully about your plan, know it well, and stick to it as execution gets underway.
In short, the best way to save money on your wedding isn’t about cutting corners and limiting your guest list. Like any financial matter, it’s about knowing what’s important to you, setting a budget, and getting creative. Not only can this help save money on your wedding, but it also ensures a wedding that is uniquely yours. And the best news? Having some money left over for the honeymoon!
¹ “This Was the Average Cost of a Wedding in 2021,” Kim Forrest The Knot, Feb 15, 2022, https://www.theknot.com/content/average-wedding-cost