Saving Tips When You Are Planning a Wedding

When it comes to planning your wedding, the first thing that probably comes to mind is the cost. After all, it's one of the most important days of your life, so you want it to be special. So, when it comes to creating a wedding budget to pay for your big day, you need to know exactly how to divvy up your money to have the wedding of your dreams. If you’re in the planning stage, here are some of the best ways to save for your nuptials.

How Much Do Weddings Cost?

The cost of your wedding depends on a variety of things. The size of the venue, location, the number of guests, and even the type of centerpieces and napkins you choose all contribute to the final cost. The key to keeping costs low and still having a day to remember is being honest with yourself. Trying to cover the cost of a huge soirée when you can’t afford it will only lead to stress, turmoil, and possibly unnecessary arguments.

Create a Budget

Before you start booking services or putting down a deposit for a reception hall, create a wedding budget. Go over your finances and see how much you realistically can afford. Even if you’ve been saving, there’s always the possibility of unforeseen expenses. If you don’t have much money put away, you have a few options. You can push your wedding date out and continue to save, use your credit cards (not the best idea), or apply for a personal loan with a private lender. In terms of interest rates and repayment plans, private lenders can usually offer more favorable terms than your bank or credit card company.

Set Goals

Once you’ve created a realistic budget, you can start working towards your goals. For example, if you want to have the caterers paid in full by a certain date, set the date and stick to it. While this may mean eating at home more or not going out as much, it'll be worth it once you reach your goals.

Compare Prices

Money is one of the factors that affect daily living so the need to consider it when wedding planning should not come as a surprise. Before throwing caution to the wind and going with the first photographer or DJ or even venue you tour, take the time to shop around. Get several quotes and set aside time to review them. Weigh the pros and cons of each prior to signing a contract. You’d be surprised how often the excitement of getting married can cloud the bride and groom’s judgment.

Think About the Season

When you decide to tie the knot is another consideration. In general, the wedding season starts late spring and continues through late autumn. During this time, everything from wedding attire to airfare and hotel rates are more expensive. If possible, try to book your big day during mid to late winter when prices are lower. You might even get discounts simply for booking during this time of year.

Limit the Guest List

When it comes to the guest list, you need to have an open mind. Many catering companies and hotels charge by the head. That means you will pay for these people whether they show up or not. It’s better to have a smaller reception with guests who are closest to you than to invite a lot of people simply for the sake of inviting them.