At present, the average cost of an American wedding stands in the region of $31,000– excluding the honeymoon! While this amount may be perfectly acceptable for a couple who are financially secure it is a whole different ball-game for those still paying off loans and finding their feet in adulthood. While countless women in particular still dream of a fairytale wedding, countless more couples are taking a much more frugal approach to planning their big day, opting for handmade invitations and beautifully home-grown flowers that will be an asset to your classical or ultra-modern wedding.
Being thrifty does not mean you will end up with a wedding devoid of beauty and class as there are countless ways for you to save money without having to completely sacrifice your overall vision. While setting up your wedding budget you need to keep in mind why it is important to stick to your guns and not overspend. Remind yourself about the student loans that need to be repaid or the house that you would like to buy after you are married. By following a few simple guidelines you can end up saving a small fortune on your wedding while still affording you with precious memories to last a lifetime.
Refrain from inviting everyone you know
It is very tempting to invite every friend you have made since childhood and every family member that is still alive but it is simply not financially viable. Every extra person you invite adds extra pressure on your budget while also taking away from the intimacy of your ceremony. You never have to feel obligated to invite anyone, not even family. Start by making a list of everyone you would like to invite and then try to cut it down by at least 20%. You can also cut down your guest list by making it an adults-only affair or by omitting the ‘plus-one’ from the invitation.
Consider refinancing your loans
If your loans are interfering with your wedding budget too much you should consider refinancing them. Consolidating your student loans is one way to reduce your payments into one while also lowering your interest rate, saving you money which can be added to the wedding budget. It is important to budget separately for your wedding and your loans as the two can have a very negative effect on one another. While both are a priority, never be tempted to skip your loan repayments as it can have a very undesirable effect on your credit record which is no way to start your married life.
Ask your friends and family for help
What are friends and family for if you can’t call on them to help you plan your big day? This is one instance where those closest to you will only be more than happy to share their expertise. Someone may be connected to a good vendor that can offer you a terrific deal while there might be a florist or caterer in your circle that can offer their services for the day at a reduced rate or even as a wedding gift. Don’t ever feel bad asking for help – everyone needs assistance from time to time and no one will think any less of you if need help in planning your dream wedding.
Apart from the guidelines above, there are countless small ways in which you can save money when planning your wedding. As long as you don’t lose focus and throw in a bit of creativity you can plan a breathtakingly beautiful wedding ceremony and reception without having to break the bank and incur unnecessary debt. At the end of the day, your guests are more likely to remember how happy the newly-wed couple looked as opposed to how expensive the caviar tasted!