Wednesday, June 01, 2011
How to Keep Your Wedding within a Budget
This is a guest post by Andrew who is a regular contributor to frugal blogs. When he is not sharing his knowledge online, Andrew is a debt consolidation specialist.
Weddings are becoming more expensive every day. It is typical for marrying couples to allocate thousands of dollars to cover each aspect of the ceremony as they always say it is important to make the date not just memorable but also special to them and to their guests.
Keeping a wedding within a budget can be really tough but with proper planning it is possible. The couple should have a serious discussion about the budget they intend to allocate for that important event. After setting the limit, they must strive to keep expenses controlled. Here are several ideas that could help you keep your wedding within the budget you set.
Start saving as early as possible
It is always best to save money for the wedding. You and your fiance should open a joint bank account for this purpose. Intend to save a regular and specific amount every month, at least a year before the wedding date. Try not to withdraw any amount from the account no matter what happens.
The two of you should also start cutting unnecessary and discretionary expenditures. For instance, try not to eat out as much. Instead of spending for a night out with friends, why not save the amount and add it to the wedding fund? When it comes time to write the wedding checks, you'll be glad you did.
Number of guests and other priorities
No one could disagree that the wedding reception takes the biggest piece of the budget. You and your partner should decide on how many guests you will invite to the reception. A smaller reception with only your close friends and relatives will save on expenses. Because the wedding reception is the costliest aspect of the event, intend to allocate most of your budget for that. In order to allocate a larger amount for the reception, you could strategically cut your spending on other aspects like the wedding rings, the gown, souvenirs, and honeymoon plans. Use your talented friends! Maybe one of them could do the bride's hair and makeup. Do you have a friend who would be able to be your photographer? Check out a grocery store bakery for your cake. You'll be surprised at how pretty they are and how inexpensive.
Account for all expenditures
Keep a systematic record of outgoing and incoming money. Be strict when it comes to keeping within the set limits. Try not to spend even a few dollars more in any aspect of the wedding. Stick to the budget!
Lastly, set aside a lump sum to cover any emergency that may arise. If you don't use it, take it on your honeymoon!
Best wishes!
Labels:
budget,
cutting expenses,
finances
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