Financing your wedding
At the very beginning of your wedding planning journey, it is important to identify how much money you are able to contribute as well as how much anyone else, such as parents or family members, are putting towards the wedding fund. Working out how much money you are able to contribute to your own fund, you may want to take various financial avenues into consideration, aside from how much tangible savings you want to allocate to the wedding. For example, if you are still in a position of paying back a student loan, which is taking a significant chunk out of your monthly income, it is worth considering researching student loan consolidation companies. These companies can help with meeting specific financial goals, including reducing your monthly payment, which you can then redirect to your wedding fund. Another way of redirecting money so there is more in your wedding pot might be to assess where you can make cutbacks in your everyday life, such as your magazine subscriptions or daily takeout meals, allocating those accumulated savings into the wedding budget.
Create a prioritized checklist
Creating a checklist is crucial for maintaining an organized approach, especially on an event of this scale and importance. However, when taking your budget into account, it may be sensible to discuss early on with your partner how to prioritize aspects of the wedding. By compromising in certain areas, it will allow you to splash out in others. Important considerations to factor into a typical wedding budget include the ceremony and reception venues, catering, music, decoration, flowers, attire, rings, hair and makeup, invitations and a photographer.
However, working out the theme of your wedding and making a checklist that takes your priorities into account should allow you some scope for creative thinking. For example, there are expensive wedding flowers and inexpensive wedding flowers. Peonies tend to be a classic but expensive choice. Instead, consider cheaper but still beautiful options, like hydrangeas, begonias, lilies or tulips. Another potential area in which to cut costs might be on hair and makeup. Perhaps you have a family member or friend who is a bit of a beauty enthusiast who you could ask to help out in the morning on the big day.
Budgeting for your big day does not necessarily mean having to make huge sacrifices. It does, however, require some serious organizational skills, and on occasion, some ruthless decision making. A wedding is a celebration of the start of your partnership in marriage, so don’t feel pressured into choosing the most expensive or typically traditional wedding options. Prioritize and plan with your partner to ensure your wedding day is indeed the perfect start to your marriage, rather than a series of expensive obligations that leave you financially crippled.
Editor's Note: Still overwhelmed? A good wedding planner can help with budgeting, organization, recommending affordable vendors, and even suggesting additional ways to save money. It will be worth the expense!