Planning your wedding budget can be stressful.
How much do you want to spend? Is it really worth that money? These are things that only you can decide. But I can help you to keep your wedding budget to a minimum!
Here, I’m going to look at some of the most common mistakes that can lead to weddings going way over budget and out of hand.
Not doing your sums up front
There are plenty of wedding budget guides that go into detail about every item you might possibly want to include. So many couples spend so much time considering the big expenses like the venue, catering, and entertainment that they neglect the little details like table decorations and bridesmaid dresses.
Figure out exactly what you need and set a concrete budget. Taking out wedding loans can help you set a concrete figure that your budget doesn’t go over.
It can also offer you a little room if you don’t have exactly as much as you need. Just be very careful that you can afford to pay off the loan after the wedding. If not, it’s not worth the risk. Just make sure that you’re planning in advance how you’re going to pay off the loan, rather than winging it after the wedding.
The wedding plan should begin at least a year in advance. One of the biggest issues is that couples try booking venues anywhere from six to two months before their big day. Even if they do find that their venues of choice are available (which isn’t guaranteed), they will find that prices have skyrocketed. Demand rises as the date gets closer and closer.
Find your venue, caterers, and other expensive costs as soon as possible to avoid the late booking spike.
Don’t sign anything on the dotted line too soon. Once you’ve signed the contract and you are locked in, there’s very little room for negotiation.
Couples can be surprised by just how much wiggle room vendors offer. This is especially true if you’re ordering any items in bulk for the wedding. Brush up on your negotiation tactics and you could see that some of the items on your list actually end up being much less expensive than you initially expected them to be.
Neglecting your needs after the wedding
This ties back into the first point. Wedding loans can be extremely helpful, but only if you already know how they will factor in your budget after you have taken them out. Too many couples get so deep into the red that it impedes their ability to make plans after the wedding day.
Make sure that you have considered future plans like buying a house, a second car, or preparing for a baby. These are all costs and should play as big a role in deciding the wedding budget as deciding where you’re going to have it.
A little overspend should be expected and even accommodated. Leave some “emergency room” in your budget to cover unexpected costs. Otherwise, the tips above should ensure that you stay calm, in control, and aren’t impoverished by the time you get back from the honeymoon.