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Budgeting and Saving Money for a Wedding

  • March 10, 2022

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If you’re engaged and planning a wedding, chances are, you have a lot on your plate. Planning a wedding is no easy feat and you’re going to have a lot of work on your hands to make the day as special and memorable as you want it to be. Now, one thing tends to dominate people’s thoughts when planning the big day - the cost. Weddings are renowned for being particularly expensive events and all too many people plunge themselves into debt to try to keep up with weddings they’ve seen others having. This should be avoided at all costs. Your wedding should be something positive, not something that is going to completely clear your savings and tie you into credit cards, loans, finance agreements and all other sorts of debt. The good news is that, with the right mindset, you can budget and save when it comes to your wedding. Here are some tips and tricks that can help you to achieve this.

Set a Strict Budget

Start out by determining what you can reasonably afford to spend on your wedding and make this your budget. Attribute certain amounts of money to certain elements of the day. You then need to be strict with this budget and not exceed it. This can help to keep your finances organized and keep you in the black.

Rings

Engagement and wedding rings tend to be a large cost associated with weddings. It’s important  that you shop around for different options. Know what you want to spend. Know what kind of diamond you’re looking for, whether that’s D, E, F color diamonds or anything else. Consider whether artificial diamonds are acceptable for you - these tend to be lower cost without much visible difference.

Venue

Venues also tend to be pricey. You should start looking for your venue sooner rather than later, as many popular options have long waiting lists. Again, set yourself a budget and start browsing options within this budget. You may also want to consider venues that offer packages, incorporating elements such as food, music and entertainment. This can work out to a lower cost than organizing all of the different elements yourself.

Dresses and Suits

Have you considered a second hand wedding dress or suit, or a rental wedding dress or suit? Seeing as most people only wear these items once, second hand versions tend to be great quality and can come with a much lower price tag attached. Rentals are a good alternative too. Again, most people only wear these items once, so it shouldn’t be much fuss handing it back after the big day in exchange for not having to fork out so much.

Food

Food options can come with lower price tags if you decide to have buffet options rather than a sit down meal. Buffets are also more fun, adding a social element to the day and ensuring that everyone can have as much or as little as they want.

These are just a few money saving tricks you might want to consider when it comes to planning a wedding. Hopefully, some can tick your boxes and save you some cash!

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