How To Cut Down Wedding Expenses EffectivelyCamisha Ballard
Managing expenses for your wedding is similar to how you would handle any other debt (credit cards, student loans, etc.) Standard practices like paying in full when you can, keeping balances low (under 30%) and not overspending, can be utilized when it comes to your wedding expenses. So staying on top of your wedding debt will save you thousands down the line. To give you tips on cutting down wedding expenses, we have highlighted a few below.
Know Exactly What You Want
Couples can waist a lot of time and money by simply being indecisive. We know it’s hard to decide on the perfect cake, dress and or venue especially when there is so much inspiration out there. But being wishy-washy can cause you to waste money. When all else fails, leave the decision in your wedding planner’s hands. And final decisions should be determined before and not after you’ve already put down a deposit. Deposits should not be used as place holders.
Stay On Top Of Deposits
Speaking of deposits, are you aware of how much you put down and how much is remaining for your vendors and venues? Let’s just be clear, your deposits are rarely refundable. Whether it’s your deposit or your final payment, it’s up to you to maintain a record of exactly how much you’ve paid. The amount you will need to put down as a deposit varies from vendor to vendor, but what you do pay now will affect how much and how often you need to pay later. That’s why it’s so important to read over the contract before signing.
Handle Your “Interest” Or Fees
If the debt can’t be controlled it can snowball out of control with fees if you don’t handle it properly. This is similar to fees that credit cards or student loans charge. Also be aware of service charges that venues add to cover their own cost of hiring servers, coat checkers, and bathroom and parking attendants, which typically amounts to 20 to 25 percent of the event’s total food and drink fee.
Don’t Overlook The “Little Things”
The “little” tasks like buying RSVP cards and party favors can add up. These details that you won’t worry about in the beginning, can push you just over your budget in the end.
Edit Your Guest List
You want to make sure you invite everyone important to you, but it’s necessary for you to define “important.” Maybe your third grade English teacher isn’t that important. Evaluate your list and make sure you are not extending your invitation to just anyone. Remember, every guest comes with a price. From food to seating, and drinks, you’ll be paying for them.
Control After Wedding Spending Habits
If you thought you had to be concerned with spending before your wedding, you definitely have to be prepared after. Some people are even prone to spend more after the wedding than during the planning. It’s an effect similar to the “What The Hell?” effect. This describes the cycle you feel when you indulge (spend too much), regret what you’ve done, and then go back for more.
Resist the urge to berate yourself and remember that your spending pattern before your wedding shouldn’t continue after.
Use Your Credit Cards
We understand how you may have racked up hefty credit card debt, but you can turn that debt into rewards. According to CreditCards.com, you can have your wedding expenses earn you money. Read more here.
Find Alternative Options
Having a traditional wedding doesn’t mean you have to do traditional spending. As we know, wedding dresses and tuxedos can be pretty costly. Consider renting your dress from Rent the Runway. You also don’t have to opt for buying expensive wedding decor. You can recreate Pinterest-worthy centerpieces or bouquets with a little help from your local craft store.
For more information on cutting down wedding expenses, give Eventsured a call at 888-882-5902. Your wedding can reach costs well over $20,000, but you can protect the entire investment for as little as $100!
Also if you are concerned with how your wedding will affect your guests, check out our blog “Tips For Making Your Wedding Affordable For Your Guests.”