As I begin looking at
venues, dresses, cakes and all the wonderful things that I would love to have
for my wedding. The only thought that keeps reoccurring in my mind is money.
How am I going to pay
for all these things?
Planning a wedding
is extremely stressful and can only cause chaos between couples. Not to mention
when the groom throws out ridiculous or thoughtless ideas of what he would like
to have at the wedding.
During last month's issue of Brides Magazine, there was an
article to help guide you through your wedding planning and stay on
budget. Here are some wonderful
tips they provided to help keep you on track of your budget.
#1 Find The Bottom Line
Before making guest list and choosing your venue, you must first
agree together on a budget. Currently couples are paying anywhere up to 70% of
the cost of their wedding or the full amount. Come up with a savings plan,
calculate a percentage of your monthly wages that will go towards wedding
expenses to avoid going in debt.
#2 Break Down Your Budget
The average wedding in Canada has 150 guests and costs around
$30,000. Creating a chart will allow you to prioritize your money and make
adjustments. Be realistic when planning for your wedding, and ask yourself
"Will I still be happy if I didn't include this in my wedding?"
If you cannot live without having a specific item that is
expensive than cut down in another area that you can live without. Negotiating
for those beautiful peonies and changing your 4-tier cake into a 3 tier with a
false 4th tier will do the trick.
Prioritizing Your Money
#3 Set Up A Spreadsheet
Keep all you receipts and create a spreadsheet in Microsoft Excel
or Word to stay on track. Doing weekly calculations of how much you have spent
will help you visualize how much you have left to spend on other items.
Just like the chart above, create categories and sub categories that are
relevant to the items you are purchasing. Ex. Bridal Attire - Alterations,
Accessories and etc. Be prepared to include additional items and additional
service fees and tips, parking, transportation and taxes.
Post the chart or money management document where you can see it
every day and remind yourself of your budget as well as your current spendings.
#4 Watch Out For These Hidden Costs
Postage for Invitations - Calculate the costs of stamps as well as weigh your
invitations.
Taxes & Gratuities - Check with your vendors & venue if gratuity is
included in with the bill or expected on the big day.
Extra Staff -
Ask the venue for a break down of the cost for additional items.
Shipping Fees - If ordering online, check for shipping fees and if you
need to pay taxes on customs.
Rentals -
When renting decor for the ceremony, calculate total cost before saying
yes.
Guest Parking - Check if there is additional costs or tips for valet
parking.
Vendor Transportation - If you’re doing a wedding out of town, check with your
vendors for prices.
Set-up and Break Down Fees - Check if there are any cleaning fees or overtime
rates for clean up.
Digital Access - Check with your photographer if there is additional fees
to view or share photos online.
#5 Find Ways To Cut
There is always an opportunity to slash costs in half and save
money. There are several sources for do it yourself decor and party favours.
Pinterest has been my personal favourite to be inspired by DIY for my wedding
and has several options for different themes. Feel free to take a look at my
personal collection and send me your ideas! https://www.pinterest.com/elizamolas/
For more helpful tips and guides to budget your wedding visit Brides Website. Sign-up and receive a Wedding Budget Tracker to kick start your wedding plans.
Elizabeth - Bride to be
Source: Image Retrieved from Google and Tips on Wedding Savings Retrieved from Brides Magazine Article, March 2015 Issue. Accessed February 8th, 2015.
Source: Image Retrieved from Google and Tips on Wedding Savings Retrieved from Brides Magazine Article, March 2015 Issue. Accessed February 8th, 2015.
