Sooner or later, most people who decide to create a family of their own face a challenge even before they even make it official: the wedding. The relatives, the planning, and, most importantly, the expenses - all this can drive even the sanest person to the brink of madness. So, how do you plan a wedding without going broke in so many senses? Let’s find what we can do about it and approach this event as if it was a battle for your own sanity (and your bank account).
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You need a plan.
All the great campaigns start with a meticulous plan. You would definitely need a list of things for your wedding day, starting from the essentials like wedding rings and reception expenses. And don’t forget the small things: how are you going to get there? What are you both wearing? Will there be any greeting gifts for the guests?
The best way to get every single detail is to write down your wedding day in as many details as you can, down to every minute. This way, you can make a list of necessary purchases and expenses.
Pro tip: make a plan B. It’s always a good idea to write down several plans: your perfect wedding you both have imagined for you and a backup one, where something might go not exactly as planned. Your strength lies in planning, so it’s better to come fully prepared!
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Define the amount you are willing to spend.
The average cost of a wedding differs from country to country, even the town you live in matters. Depending on the amount of money you have saved up for your big day, you can adjust your wedding plan and see what you can and cannot afford.
All over the world, many future families decide to take loans to organise their perfect day. Depending on your previously constructed plan, you can review this option with your future partner and decide whether you need it or not - together, as a future family. But remember that using a loan to pay for your wedding calls for more planning: how are you going to pay that loan back? Can you both afford it in the future? Be ready for long talks and endless planning to come to a compromise.
Pro-tip: while planning a wedding budget, it’s best to leave a margin of about 10-15% of the cost for extra expenses. Better safe than broke!
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Comparison shopping.
Once you have your list of necessary items and your budget, it’s time to decide where to buy all those things. Buying everything right away to spare some stress might sound enticing, but you need to fight that temptation if you want to spare your bank account.
Creating a spreadsheet with prices and shops could be a great idea to really see the difference and choose the better option. Find the perfect balance between the quality and the price - and here you are, one step closer to victory!
Pro-tip: Buying things for your wedding during major sales throughout the year might be a great idea, especially if you plan far ahead. Work smart, not hard!
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Set your priorities.
No battle is won without sacrifices. The same goes for weddings - you can’t have a cake and eat it too. Choose what’s more important for you: your outfits, your venue, catering? Get your list of necessary purchases (now complete with prices) and sort it by importance. This way, you can find something less important for you which you can cross out of your list completely or at least find another, less expensive option for.
Pro-tip: see if some less important points in your plan can be DIYed or thrifted. That can sure add some charm to your wedding - depending on your vision of it.
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Keep your wedding budget safe.
It’s always a great idea to separate your wedding budget from your daily expenses. Wedding plannings can last for many months, and it wouldn’t be wise to risk spending your precious funds on your daily expenses.
It’s always a good idea to make a separate bank account for your wedding budget, where you can keep the designated amount and add more if necessary. Consult your bank for such options, and don’t forget that your future spouse should get access to it too.
Pro-tip: pay attention to maintenance fees and interest rates on your wedding budget account to ensure that every deposit and withdrawal will go according to your initial plan.
Planning such events can take a toll on a future family, but remember that you are in this together now. Make sure you talk to each other, think one step ahead, and be patient. And now that you are armed with this knowledge go and make this wedding a great memory for both of you for many years to come!
