If you got engaged over the holidays, or you’re hoping there’s a proposal on the horizon, one of the first things you need to do is look at your wedding budget. But where do you start? We have a few tips for those of you heading down the aisle in 2018/19.
Who is paying for your wedding? Did your parents put aside funds for the big day? Will both sets of parents contribute towards the cost of saying ‘I do?’ Do you have savings? Whatever the situation, you need to be clear about finances from the very beginning.
The best way to stick to a budget is to have realistic expectations. Research, ask for multiple quotations, and find ways to reduce costs. Write a budget and stick to it.
What does your wedding day look like? Do you want a formal candlelit dinner with hundreds of guests at a hotel or do you want something low-key? A more formal affair will cost more money. A brunch or afternoon reception is usually less expensive than an evening one. The cost of a band may be greater than a DJ. And don’t forget décor; flowers, linen and lighting. It all adds up.
How many guests will you be inviting? Some couples choose to keep their wedding guest list to a minimum, but others want to invite extended family, friends, and coworkers to join in the celebration.
The time of year you choose to tie the knot will have an impact on the cost too. Highly sought-after seasons, such as fall and spring are pricier for obvious reasons.
There are a number of pitfalls to avoid. Ask about service fees; is there a service charge? Tips; put plenty of cash aside for tips on the day (and for the honeymoon). Not all trials are free; a florist demo, a cake tasting, wine selecting, you may need to pay for some of these.
A large cost that couples often forget is postage. If you’re sending out invitations (and thank you notes) via the mail, you need to budget for that.
Don’t forget the unexpected. Weather related issues, such as providing guests with umbrellas for a rainy day or space heaters for a cool evening. Accidents also happen. Do suits need to be dry-cleaned or dresses steamed? Repairs to youngsters’ outfits are not uncommon.
Once you’ve considered all the costs, and you have your budget, look to ways to save money. Prioritize. What’s more important to you and your partner? It’s fair to say that your guests will remember the experience rather than the flavor of cake or color of the flowers. They’ll remember the vows, the speeches, and the first dance. So don’t worry too much about the pricey details. If it’s more important that everyone has a good time then that’s enough.
For information about opening a checking or savings account, using checks, or fraudulent activity please stop in at one of our branches in New Berlin, Springfield, Palmyra, or Modesto.