When organizing a wedding, setting a budget can be essential for keeping a lid on costs. Overspend on your wedding and you could end up having to take out large loans and debts that could make the next few years a financial struggle. This could cause you to regret your wedding day rather than looking back on it fondly.
On top of having a budget in place, you need to be able to break down that budget effectively so that all necessary costs are covered. This can be an area where couples commonly fail – it’s easy to overspend on one thing and then have to scrimp and save just to afford everything else.
By having a budget and knowing how to break down this budget, you can put on a wedding that’s affordable, while also not having to sacrifice too much. Below are just some of the main budgeting mistakes to avoid and what you should be doing instead.
Not tracking costs
It’s important to keep a record of costs as you’re spending them so that you know exactly how much you’ve spent. If costs go untracked, you could find that you have less of your budget left than you expected.
You can track costs by buying a diary to document costs or by keeping notes on your phone. There are also apps that can help you to track your wedding budget. You can compare some of the best wedding budgeting apps at Paste Magazine.
Not considering the time, day, and season
The time, day, and season that you get married can have a big impact on the overall cost. This is something that shouldn’t be overlooked when planning your big day.
Summer is the peak season for weddings due to the greater chance of good weather. It’s also the most expensive time to get married. Opt for a winter, spring, or fall wedding and you could halve your wedding costs in some cases – because there’s less demand, vendors often offer deals to help attract business during these months.
The day you get married can also affect the cost. Weekend weddings are most popular because they don’t require as many guests to book time off work. Getting married on a weekday could result in reduced costs – venues often find it harder to attract business during the week and so often offer discounts to couples.
Finally, you should consider the time of day. In most cases, a morning wedding is cheaper than an afternoon wedding. This depends of course if you want to reserve the venue for the whole day – this will work out much more expensive and you’ll have to provide more food and drink, so maybe best avoided if you’re on a tight budget.
Some couples may have their hearts set on an afternoon weekend summer wedding. However, if this isn’t the case, consider taking advantage of the off-peak discounts that are out there.
Not booking far enough ahead
You can also save costs by booking far in advance. The closer you leave bookings to your wedding date, the less availability there’s likely to be when it comes to venues, photographers, caterers, and other professionals. You could find that all the best deals have gone, in which case you’ll be stuck hiring overpriced vendors. Some vendors may also charge more because they have less time to prepare – for instance, a wedding dress tailor may have less time to do alterations and may charge extra if they’re already queued up with clients.
Many of the vital aspects and most in-demand aspects – such as the venue, photographer, entertainment, and transport – should be booked six months to a year in advance so that you get the best choice and the best deals. Booking far ahead will also allow you to pay for things in installments, which could help you to spread out the costs.
Blowing most your budget on the dress
The dress is the biggest thing that couples overspend on. It’s all too easy to fall in love with a dress that is completely out of your price range. Buying this dress could then mean having to make compromises on everything else.
To avoid falling trap to this, set a separate dress budget within your overall budget, and only try on dresses that fall within this budget. Once you start trying on dresses that are outside your budget, you’re more likely to be tempted into overspending.
Remember that alterations can be an added cost to factor in. On average, people pay $250 to $450 on alterations – which can be a big chunk of money if you’re on a small budget.
Planning to slim into a dress – and failing
Some people deliberately buy a dress that is too small in order to spur them into losing weight before the big day. This is dangerous – if you don’t lose the weight, you could end up with a dress that doesn’t fit you. Last-minute alterations may be able to fix this, but in some cases, even this might not be an option, which means you’ll have to buy a new dress.
It’s easier to alter a dress that’s too big than a dress that’s too small. For this reason, you should always buy a dress in your current size – if you do lose weight between now and your wedding day it might be easier to adjust it.
Underestimating the cost of an outdoor wedding
An outdoor wedding might seem like an opportunity to save costs, particularly if you’re getting married on land that you own. However, it can work out more expensive than many people assume due to all the extras that are necessary.
A few of the extra costs that come with an outdoor wedding include marquee hire (important in case it rains), electric generator hire (for lighting and entertainment), table and chair hire, portable toilet hire, and specialist equipment hire (for instance, a DJ may charge more for use of outdoor speakers).
Outdoor weddings can cost as low as $4000 (which is a lot slower than the average $29,200 indoor wedding), however, they can be just as expensive as indoor weddings if you hire expensive land to get married on or overspend on outdoor equipment. This Wayfaring Weddings guide to outdoor wedding costs could be worth a read to help you understand how you can save costs.
Inviting too many guests
The more guests you invite, the bigger the venue you’ll need, and the more food and drink you’ll have to supply. Consequently, you should be careful about letting your wedding invite list explode.
Consider having only your closest circle of friends and family at the ceremony and meal – the reception can be a chance to invite everyone else. Understand the costs that come with each person so that you can work this into your budget. If you’re inviting kids along, consider whether there may be discounts (if you’re planning a sit-down meal, any kid’s meals should be cheaper than adult meals).
Not knowing your numbers
Not keeping track of how many people you’ve invited could also cause you to overspend. This could include ordering too many invites or paying for more meals than is necessary.
Make sure that you know precisely how many guests you’ve invited. It can also be important for preventing the opposite problem – which is not ordering enough food and drinks or not supplying enough chairs.
Overlooking all the small extras
A lot of couples get side-tracked by the big costs and forget about all the little extras such as the guest book, wedding invites, licenses, and wedding favors. These extras can add up, so make sure to include them within your budget.
You may be able to find deals online such as these discounts on MagnetStreet’s wedding thank you cards. These deals are worth hunting for – lots of small savings could result in big savings overall. You may be able to DIY some of these extras without affecting the overall quality of your day (such as making your own invites). This could be another way to save some money providing that you’ve got the time and resources.
Not reading the small print
Last but not least, you should be careful of hidden costs included in the small print. These hidden costs can often catch couples out and add huge amounts to the overall wedding bill.
For instance, some vendors may charge extra service fees, travel fees and money for equipment hire than may not be included in the initial price. Venues meanwhile may bill extra if you stay over your allotted time even for a few minutes.
By reading the small print, you can get a good idea of what is included before committing to anything. If you believe that may be billing errors or there are extras included that you don’t want, make sure to bring this up with vendors to avoid paying for more than is necessary.
