Tips To Cut Wedding Costs
The average American wedding cost has eclipsed $35,000. That’s more than half the yearly median income! Most of this cost growth comes from the guest list. Couples are inviting more people and doing more for them. But don’t worry, you don’t have to spend half of your income on your wedding, here are a few tips to cut wedding costs.
1. Schedule smart
Saturday is the most common date for weddings since everyone has the day off, and most churches aren’t available on Sundays. Consequently, venues are often more expensive on Saturdays.
Instead, pick another date that offers those benefits. Your special day can be the day before a holiday or on the Sunday of a long weekend, like Labor Day. Your guests will still have time to enjoy themselves, and you’ll save as much as 15% on the cost of your venue.
2. Untether yourself
When picking a venue, look for a place (or negotiate with your selected venue) that allows outside vendors to handle food, music, and photography. Places that host weddings often may have existing relationships with businesses that can charge more because they’re not competing with anyone else.
If you can get this kind of flexibility, shop around for better prices on catering, music, and flowers. You’ll also be able to get precisely what you want from these services, such as a signature cocktail instead of a full bar.
3. Keep the “W” word to yourself
Every vendor has a “special” wedding price. Often, this means they charge more for any wedding-related service. However, you can save as much as 30% by keeping the occasion to yourself.
For example, buying a formal gown that’s not labeled as a “wedding dress” can translate to savings when shopping for a dress. Getting a custom-decorated sheet cake can save a few hundred dollars, too.
4. Put your guests to work
The highest cost in most wedding-related items is the cost of labor. For example, when you pay for flower arrangements, you’re paying about 10% for the flowers and 90% for the florist’s time. So instead of hiring professionals, consider putting your guests to work.
Many wedding guests would love to contribute to your special day. They’ll be happy to participate in making your wedding beautiful, and you’ll be happy to save a few bucks!
5. Spread out the cost with a savings account
A tremendous challenge for newlyweds is coming up with all that money because all the wedding bills come due simultaneously. For many couples, that means using consumer debt to finance the entire cost of their wedding. The ensuing interest and financing charges can make your wedding even more unaffordable.
Instead, consider opening a special savings account: Set up an automatic withdrawal from your checking account into an interest-bearing savings account. Then, when the wedding bills come in, you’ll have money set aside to defray the costs, and you’ll be able to borrow less. If you like these tips to cut wedding costs, make sure you check out our other MoneySaving Tips.
