Wedding Finances – Let’s solve the problem… As quickly as the question is popped and the ring is on your finger, your coffee table starts to fill with wedding magazines. Plans, themes, songs, race through your head and the giddiness that is wedding planning takes hold. And as soon as you settle on a vintage wedding theme, the figures start rolling in, sending a cool shiver down your spine as you tap at the calculator. Is it really going to cost that much? Well, possibly. It depends on your budget; how thrifty you want to be and whether you can do without the 18 large vintage birdcages.
There is no average wedding these days with so many wonderful options open to us, but that does not stop us from remembering that weddings can cost a scary amount which can easily get out of control and knock a gaping hole in the savings you’ve worked so hard to amount. At the end of the day, weddings cost money. Whether it’s a savvy 2k or a whopping 30k, it’s up to you and your partner to figure out how to solve the very real problem that is wedding finances.
To keep track of the spiraling costs we have some tips for you to help ease the stress of wedding finances. Remember, don’t panic if you see those numbers inflate. The stress of planning a wedding is enough without adding mountains of anxiety to your plate. There is always more than one way to plan the wedding of your dreams and keep the numbers from rising out of your control.
As quickly as the question is popped and the ring is on your finger, your coffee table starts to fill with wedding magazines. Plans, themes, songs, race through your head and the giddiness that is wedding planning takes hold. And as soon as you settle on a vintage wedding theme, the figures start rolling in, sending a cool shiver down your spine as you tap at the calculator. Is it really going to cost that much? Well, possibly. It depends on your budget; how thrifty you want to be and whether you can do without the 18 large vintage birdcages.
There is no average wedding these days with so many wonderful options open to us, but that does not stop us from remembering that weddings can cost a scary amount which can easily get out of control and knock a gaping hole in the savings you’ve worked so hard to amount. At the end of the day, weddings cost money. Whether it’s a savvy 2k or a whopping 30k, it’s up to you and your partner to figure out how to solve the very real problem that is wedding finances.
Know Your Budget
At the beginning of any wedding prep comes a budget. Deciding on how much you want to spend on a wedding is a personal choice, but it is a good idea to set a figure from the get-go and keep to it, or even under it.
How much you spend on a wedding is often determined by the costs of vendors. Your best friend in making any decision is the quote. Getting detailed quotes from your top three vendors in all areas, such as reception venue, ceremony location, entertainment, wine merchant, and photographer, will help you to decide on what you can and can’t afford.
The largest expense you will have is the reception venue and the menu. Prepare yourself to allocate about half of your budget for this one expense alone. This may seem terrifying but bear in mind that many wedding venues hold a lot of the hidden extras to make your day special. Numerous venues include small details to suit your theme, such as the vintage bunting you dream of for the gazebo or the printing of the menus and seating arrangements with a rose petal design you fell in love with.
These little details contribute to make your day magical and may be included in the price. Find out everything that is available to you from the venue and if you can use that to your advantage without forking out extra for those little details, you’re on to a winner.
Have A Contingency Budget
We’ve determined that weddings are expensive and no matter how hard we try, there’s always room for error when it comes to adding up the numbers. Having a contingency budget is a good way to avoid any panic and stress when a bill is more than you allocated for or you find a dream dress that is outside of your budget. The ideal way to figure out your contingency is to take your full budget figure and take 10 to 15% of it away and hide it. Really hide it. Put it out of your mind. This is your danger money.
Say your overall budget is a frugal €10,000. Take €1000 to €1500 out of the budget and keep it aside. Work off the remaining €8.5k to €9k as your official wedding budget and if costs spiral then you have a buffer to take the stress out of wedding planning. You will be thankful you did this even if you don’t spend it when everything is booked and paid. It may become your honeymoon!
Decide On Priorities
Do you really need to arrive in a vintage VW, or have dusty pink macaroons from a beloved patisserie? Every couple’s idea of what is important on the day differs, so while we say decide on the priorities, the small details one couple could do without, may be a necessity for you. Remember, it is often the small details which can inflate a budget as its easy to lose track of how many Etsy transactions we’ve made.
Your guests may not remember the special wedding favours you imported from Germany or the silk trimming you bought to add to the floral centrepiece. While these details may feel important at some stage throughout the wedding planning, there may come a moment when you realise, they’re not essential or there could be a more budget friendly option.
What your guests will remember is how beautiful the bride and groom were, how tasty the food was, how beautiful the venue was and how much fun they had with the entertainment. So these are areas to prioritise rather than skimp on if things get tight. But this is also your day, so focus on the important details which will make it a happy, fun and memorable occasion for you.
Be Savvy
If an aspect of your wedding planning becomes too costly and you think you have no choice but to completely cut it, remember there may be cheaper alternatives. For instance, those 18 vintage birdcages you fell in love with to adorn the aisle, may be hired for a fraction of the cost or sourced online and decorated with a bit of DIY and TLC.
Doing some of the work yourself, such as decorating the room, sourcing memorable photo holders online or in an Ikea sale can really save on the budget. Call on the skills and talents of your friends and family who may be able to help with some of those all-important small details. Don’t be afraid to think outside of the box when it comes to wedding planning. As we said, there are a million ways to plan a wedding.
Be You
Planning a wedding can be stressful, heightened by the fact we are working off a budget which may have little to no leeway. But it is also so incredibly exciting! At the end of the day, this is your wedding day to plan. Every detail is about you and your dreams for your special day. You can’t put a price on being you on your wedding day.
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