WEDDING BLITZ: Planning the big day could have bigger budget consequences

Posted By: Matt in Budget on 03/07/2014 at 14:56:29

Planning your wedding is equal parts balance and budgeting.

On one hand, you want this day to be special, unforgettable and something you'll be talking about for years to come. Finding the perfect centerpieces, piecing together the guest list, deciding on a location and immersing yourself in flowers, food and music sums up a laundry list of preparation that proves both exciting and potentially costly.

The flip side to the hustle and bustle of getting from readying for your wedding and getting to the day itself is trying to pare down and save on costs when you can, without sacrificing on particular aspect or overall theme that could detract from your dazzling day.

You've probably all heard stories from friends, family or chatty coworkers who aren't ashamed to admit they've either planned or attended a wedding that carried a hefty price tag, some even hitting the six figure plateau.

Overspending on a wedding seems like a forgivable course of events, one that can be justified by using phrases like "biggest day of your life," "most special of days" and "one in a lifetime event." Those clichés might be accurate but also easily could blind even the most financially conscious individual or couple into going well beyond their wedding budget.

That is, if they even have one.

One of the biggest missteps moving forward in terms of wedding planning is not going into the planning without knowing what you can afford to spend. As non-romantic as it may be, you and your fiancée really have to think pensively and practically about a number of issues and subsequent question that can abound.

Who is paying for what·

Are parents of either bride or groom chipping in·

What realistically can we afford based on what we have saved or our incomes·

All of those previously touched upon inquiries carry plenty of weight, especially the final one. If you find yourself short on funds, you don't necessarily have to assume that your big day will come up incredibly small by your standards.

A great example as far as saving is finding ways to barter for what you want. Some have suggested if you have a guest on your list that is a DJ, florist or caterer, then ask them if you can exchange a would be gift for their services.

If your wedding is going to include children, talk to the caterer or whoever may be providing the drinks, both alcoholic and non, if there's some leeway as far as cost per person when it comes to food and beverages. Most places will take into consideration children as non-guests.

In addition, the bride and groom might want to pump the breaks when it comes to the guest list as a whole. Make sure you really think through who you're inviting and pair down accordingly. If that means your sister's brother's aunt's cousin can't make the cut, then so be it.

In the end, you can still have that amazing event take place and have it be something you'll always hold near and dear to your heart, without having it extend into years of paying off debt that goes well beyond the honeymoon period.

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