THE WEDDING PLANNER
Money Strategies and Who Pays for What?

WEDDING PLANNING: MONEY SAVING STRATEGIES

Spring is in the air, and when this occurs each year, it is that time when most wedding planning gets under way. Having a wedding is a very expensive event. Most people rank the budget as the most stressful part of planning this special day.

Over 2 million couples walked down the aisle last year having spent on average of $20,000. That is about the same amount couples will put down on a new home, and we all know how stressful budgeting for a new home can be. Planning a wedding should be a fun, exciting time; however it sometimes ends up being one of the most painful processes in a couple’s engagement.

In this month’s newsletter, we decided to discuss some helpful tips and guidelines to help not only make your special day memorable, but the wedding planning memorable as well.

The first thing every couple should do is buy a wedding planner and turn to the budget page. We know this idea can be frightening at first, but you will need to figure out who is going to pay for what. If you think in-laws or relatives may be helping with some of the costs, then you need to speak to each of your own families and find out what they can afford. Forget the rule that certain people have to pay for certain things and the bride’s parents need not take out a third mortgage to pay for the wedding. It is common for couples to pay for a good chunk of the event themselves. Every situation is different, what doesn’t change
however, is that your budget will determine the type of wedding you have, place, and style, so it has to be one of the first things you tackle.

One thing you should remember is that informal weddings are usually smaller, and therefore cheaper. Larger weddings are opposite. The best way to decide what to do is to sit down with pen and paper, look at your finances, and figure out what you can afford. One thing people usually decide is that no wedding budget is ever big enough.

No matter what your budget, a wedding that looks high end can be yours without giving up an ounce of style. We have come up with some money saving tips, along with planning strategies that will help your day be a success.

Open a Separate Wedding Account
Establish a separate bank account for your wedding fund. By putting whatever money you can save in one place, you'll have a clearer idea of how much you have to spend.

Give yourself Time
Time is the most important money saving issue. And the less time you have, the more likely you are to make rash decisions, which will compromise your finances. Give yourself enough time to shop around for the best deal. The internet is great for this.

Set Limits
Invite 100 guests instead of 150. Set a limit first and then create a list that falls within those guidelines. For example, you can invite first cousins, but second cousins should not be included. Have two bridesmaids instead of ten. Serve three courses instead of five. Use your wedding cake as your dessert, this will cut one course immediately.

Did We Say Cut the Guest List?
No, really, cut it. Eliminating kids, colleagues, and dates of guests is a quick, across the board way to cut your guest list. You should keep in mind though; serious partners and spouses should always be included.

Loosen Up
The less formal the affair, the more affordable. Instead of a sit-down dinner, go for a casual brunch or a barbecue would be an idea or instead of limos, get rentals cars. You can also choose a morning or afternoon event, as they are less expensive than evening affairs.

Do It Yourself
These days, it is amazing how many things you can do yourself with just about no effort at all. The Bride can do her own hair and makeup. She will most likely only like it if she does it anyway. Come up with an idea for making your own favors, coordinate the alcohol, address your own envelopes, print your own direction cards, making your own save the date card are just a few ideas that you can still have with out spending any money on.

Put It Off
Choose to go with silver or white gold wedding bands now and then upgrade to platinum on your first anniversary.

No Holidays
Holiday Weddings are more expensive because you are competing with catering services, wedding and reception sites, DJ’s, limousines, photographer and more. During these holidays, these types of services are definitely more expensive.

Now that we have gone over the basics down, here are some specific suggestions that may make your day not only less expensive, but creative as well.

Ceremony
Exchange your vows in a naturally beautiful place. If you pick a public park, a flower garden, or the beach, you won’t have to spend a dime on decorations.

The Toast
Instead of serving champagne, try toasting with white wine. Your guests are raising their glass to you, and normally do not care what is inside.

Mood Lighting
Create Centerpieces and light the room with candlelight, since candles are much cheaper than flowers. You can buy votives from a restaurant or online craft store supplier. Buying these will be much cheaper than renting and you can use them again.

Dismiss the Details
Details count, but usually start costing a fortune. Don’t let the details kill your passion for planning the day. Guests will notice thoughtful touches, but they won’t miss or talk about the ribbons with your names on them tied around guest soaps in the men’s bathroom.

The above a just a few tips for cutting costs. There are many wedding websites and books you can refer to for more ideas on how to make your special event look as though you spent thousands.

WHO IS PAYING FOR THAT?

Below is a list of traditional costs for everyone involved in your wedding planning, however, rules are made to be broken. The simple rule is that the budget that is set in the beginning should be followed as closely as possible.

CEREMONY
• Bride and family pay for church, organist, etc
• Groom and family pay for marriage license and officiant’s fee

CLOTHES
• Bride and family pay for bride’s dress, veil, and accessories
• Groom and family pay for groom’s outfit

FLOWERS
• Bride and family pay for arrangements for church and reception, plus bouquets and corsages for bridesmaids and flower girls
• Groom and family pay for Bride’s bouquet and going-away corsage, boutonnieres for men, and corsages for mothers and grandmothers.

HONEYMOON
• Groom and family pay for complete honeymoon

PHOTOGRAPHY
• Bride and family pay for all wedding photos and video

PREWEDDING PARTIES
• Grooms family hosts the rehearsal dinner
• Bride plans and hosts bridesmaids luncheon
• Bride or Grooms family host engagement party
• Maid of Honor hosts Bridal shower
• Best Man hosts Bachelor party
• Groom hosts Bachelors’ dinner

RECEPTION
• Bride and family pay for all professional services, including food, drink, decorations, and music.

RINGS
• Bride pays for Groom’s ring
• Groom pay for Bride’s ring

STATIONARY
• Bride and family pay for invitations, announcements, and wedding programs.

TRANSPORTATION
• Bride and family pay for bridal party to and from ceremony and reception

It is easy to spend $10,000 on a wedding, but if you plan right and give yourself plenty of time, you can do it in $3000.00. Try not to worry about traditional formalities. If you will not be able to enjoy your day because your mind is concentrating on if the check you will write for the reception is going to bounce, it is time to hold on the quick decision and try to think of a way to get what you want with out paying top dollar.

Something many people need to remember is that just because an item is the most expensive, does not mean it is the best. It is easy to forget this and get carried away. When this happens, many couples whip out the credit cards and buy what they want instead of what they can afford.

Revert back to that budget. If you are able to afford a $10,000 budget, do not plan an affair that is $100,000. One costly mistake couples make is spending on all the extras, thinking they will make it up at the wedding in gifts. This almost never happens. Couples are sadly disappointed on Monday morning after the wedding, when they deposit all those checks in the bank and it hasn’t even made a dent in the credit cards they used to make final payment to vendors.
What once was suppose to be an enjoyable event has turned into a hole that a new couple will be trying to pull themselves out of for years.

Each wedding is unique, couples have different priorities, and costs vary from state to state. As you make your decisions about how to spend your money based on what is important to you, enter your costs and tally up what you have allocated, and what you have left to spend. Everything will fall into place if a budget is used. Your day along with the days ahead with your new spouse will be blissful, instead of stressful. You’ll not only be toasting to your new marriage but starting it out with out any credit card debt.

Research on the internet, there are many budgeting templates and planners for wedding events or contact our office at education@godebtfree.com and we would be happy to email one of our free budgeting templates.

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