Weddings are an occasion many people dream about for years. Let’s fast forward to the big day. You’ve finally found the person you want to spend the rest of your life with. You’ve diligently planned your wedding budget, only to realize that – you’ve overspent significantly. This is the case with 74% of American couples, all of whom go over their wedding budget by an average of $12,000 dollars.
We’ll show you six ways to stick to your budget and avoid this common wedding mishap.
1. Know what matters to you
Talking through what is and isn’t important to you and your future spouse ahead of crafting the budget is crucial. Spend big in significant areas, but be wary of overspending in areas that will be of little value to you. Consider, what aspects of your wedding are you really going to remember in 15 years? Then consider what aspects won’t be that memorable to you. If you’re overspending in important areas, you should also allocate less to these areas to balance your budget.
2. Don’t fall in love before cost checking
It’s only natural for you to fall in love with a certain venue or catering company and become attached to them without considering costs. Overspending in one or two areas will lead you to either overstep your wedding budget or have to skimp in one or several other areas.
3. Keep in mind that sometimes simplicity beats extravagance
Keeping things simple can keep wedding day headaches to a minimum as well as keeping your budget slim. Know your preferences and stick to your budget. Trying to copy someone else’s vision will only leave you unfulfilled, and be of any competitive tendencies. Don’t try to match the elegance of a relative’s or friend’s recent wedding.
4. Don’t invite more guests than you actually want there
The amount of people at a wedding is inherently correlated with the total cost of the event. It may be tempting to invite that 3rd cousin or every single member of your volunteer group to your big day, but be mindful of the implications this can have on your budget across preparing more food, purchasing more centerpieces, and in extreme cases, having to move to a larger, more costly venue.
5. Don’t overspend on seemingly minor items
You may think spending on miscellaneous wedding items here and there won’t make much of a difference when it comes to the total cost. However, these costs tend to add up rather quickly and can be what causes you to tip over budget. Items such as dress alterations, service tips, and bridesmaid gifts are often neglected as minor expenses but don’t be surprised when they have a major impact on your final cost.
6. Always track your expenses
Tracking all of your wedding expenses, albeit small or large, is vital. A wedding is an event that calls for you to hire several outside companies. Keeping track of payments and receipts related to the companies becomes crucial as you never want to have to double pay for something that the company claims you haven’t yet paid for. For this reason, it’s smart to make expenditures using a credit card rather than cash.