Are Your Wedding Plans Going Way Overbudget?

Are Your Wedding Plans Going Way Overbudget?

Wedding planning can be really exciting. You get to search for venues to host your ceremony and plan your photoshoots. You get to browse through potential flower arrangements and catering menus. You can taste-test cakes and cocktail recipes. The only part that’s not-so-exciting is tallying up the costs and figuring out whether you can fit everything you want into your budget.

Going Overbudget for the Wedding

You’re not the first couple to balk at wedding costs, and you won’t be the last. In 2019, the average cost for a wedding in the United States was $33,900. That number has gone down in recent years, but experts credit that to COVID-19 and related restrictions. The costs should rocket back up as it’s safe to host large-scale events again.

If that wasn’t daunting enough, a large percentage of couples find that they go thousands of dollars over their budget when all is said and done. A poll of 13,000 married couples found that 45% of them spent more on their wedding than they originally planned. How much did they go over? The poll found that they spent an average of $7,319 extra. That’s a hefty chunk of change.

What You Can Do Instead

Just because going over budget is a common problem doesn’t mean that it’s an inevitable one. You can save your money and still celebrate your nuptials.

Be Realistic

Take a long, hard look at your finances. What can you really afford to spend? Set that hard limit for yourself, and don’t fall for temptations to spend more. Remember: you can have a beautiful event without overspending.

Prepare for the Unexpected

What if you get car trouble or plumbing problems a week before the wedding? Leave some padding in your budget — both your wedding budget and household budget — for something to go wrong. That way, you can handle small emergencies without upending all of your plans.

If you don’t have enough padding, you could apply for an online loan to help you deal with the emergency. Be sure to check the accessibility of an online loan before you apply. You don’t want to waste your time applying for a loan that’s not available in your state. For instance, if you live in Dallas or San Antonio, you should look up Texas loans online — you know for a fact that you can access those. That should save you some stress before the big day.

Cut Out the Extras

There are lots of non-essentials that you can cut out of your wedding plans to save money. Here are some things that you can scrap:

  • Party favors
  • Printed programs
  • Photobooths
  • Guest entertainment and attractions
  • Floral arrangements
  • Centerpieces
  • Champagne
  • Table linens

Think Smaller

Your guest list will affect the final price of your wedding. The more people that you invite, the more it will cost you. To save money, be incredibly selective about the guests that you want. Don’t add to your guest list out of obligation or guilt. This is your day, after all.

For even more savings, you should consider planning a micro wedding or eloping with your sweetheart. Both of these options are intimate, romantic and very affordable in comparison to a big wedding bash.

You don’t want to spend your honeymoon thinking about debt! Rethink the cost of your wedding plans and save yourself the financial stress. You’ll thank yourself when the wedding is over.

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