For many engaged couples, a wedding is the most important and expensive event that they’ll ever plan. It’s only natural for some of these couples to want to find ways to spend less on the big day, so they can save some money towards a marital home or a nest egg. Here are some top ways to cut down on your wedding budget without sacrificing the important parts of your dream day.
Identify and Cut Down on Big Ticket Items
In the US, an average wedding ceremony and reception cost over $28,000, with many couples spending more to try and make the day as memorable as possible. Most of this cost goes to the venue for the rental of the location, as well as catering and alcohol. Other big-ticket items include the wedding dress, floral arrangements and bouquets, and entertainment. If you can reduce or eliminate one of these large expenses, you can potentially save hundreds or thousands on your budget.
Saving on a big item might require creative thinking on your part. Consider a free or low-cost wedding location for the ceremony, like a park or beach, instead of paying for a fancy hotel ballroom. In 2020, outdoor weddings increased in popularity by 11% and this trend is likely to keep going as people want to celebrate outside in a safe, socially distant way. Instead of hiring a band or professional DJ, think about having a friend or family member play music or set up a playlist with songs you like that can play automatically during the reception.
Spread Out Paying for Large Expenses
Certain costs can be paid well ahead of time, which saves you the stress of paying for everything at the last minute. For example, you can book any medical spa appointments you need in the run-up to the wedding months ahead of time and expect the results to last. Depending on the procedure you want to have done and the length of the associated recovery time, you may want to schedule these well ahead of the ceremony to allow yourself time to recover and give the results time to settle. According to the American Med Spa Association, millennials currently account for 20 percent of medical spa clients. These potential brides and grooms can expect to spend some money on perfecting their look before the wedding takes place.
Cut Down on the Number of Guests
Each guest you invite represents additional expenses for you, so be as conservative as you can when it comes time to send out the invitations. While it may initially seem awkward to exclude people you see regularly, you may be surprised by how many people will understand you want to stick to a budget on the big day. Work acquaintances, neighbors, and old friends you don’t see often can be left off the list and are likely to accept the explanation that you are only inviting family and close friends. If your parents or in-laws are planning to invite their guests, also let them know you’d like to keep the guest list small, so they can limit themselves to just a few people. With a smaller group of attendees, you’ll not only spend less on food and drink, but you can also book a smaller room or venue to accommodate the crowd.
These money management tips can help you save money on wedding expenses and cut down on the total amount you spend. By setting a budget and sticking to it, you can ensure that you have a great time at your wedding without being stressed out about the bill.