Friday, 18 August 2017

Controlling Your Cash When Planning A Wedding*

*This is a collaborative post*

It’s the biggest day of your life; it might seem obvious that it’s going to cost quite a lot. Even if you have a family member that’s taking on some of the burden or you’re keeping things relatively small, it’s easy for wedding costs to spiral and take control of your finances. However, you can get a more budget-friendly wedding without sacrificing too much with a few smart moves.

Set a budget and stick to it
This is really the most important part of making sure that wedding costs don’t spiral out of control. There will always be a temptation to splurge a little more on an extra here and there. Start out with an idea of how much weddings actually cost by each individual component (vendors, venue, cake, etc.). Decide where you’re going to tip the scales in advance if you want a particularly nice venue or dress, and where you’re going to take that money out of. Budget for emergencies, too, such as flying over a relative you really want there. Track your spending on each part of the wedding and be well aware of where you make savings you can pour into other parts or where you’re in danger of crossing the budget.
Take on more yourself
The more work you’re willing to do, the more you can save. Some of the DIY additions you can provide, like your own guest book, your own welcome display, or your own hair and makeup, might seem like little drops in the pond. However, they will not only save you money, but they put a little bit more of yourself in the wedding, making it all the more special.

Spread out your costs
You should be focused on saving for the wedding, there’s no doubt about that. Set savings targets and make sure you and your partner keep each other accountable in how close you get to meeting them. But you don’t have to pay for it all in advance. If you’re willing, you can spread out the costs with secured loans. What are secured loans? They’re loans applicable to even those with poor credit that allows you to get access to cash immediately using assets like a home or a car as collateral. This means you can pay the loan after the wedding instead of scrambling together to get the cash ready now. If you ask for cash as a wedding gift, it can be a lot easier to pay it back after than to save it up before.
Know your suppliers
How much wiggle room do you have to negotiate with vendors? More than you might think. For instance, if you consider going for a wedding in the off-peak season, you can immediately make some huge savings. Do your research on other providers in the area that offer a similar level of service, so you have some figures to justify asking for a discount, too. Most importantly, be polite about it If you’re pushy and acting entitled, it’s all the easier to say “no” to you. Also, be aware of some of the extra charges a venue might throw on, like charges for cutting the cake or even the costs of removing bottle corks. You can take care of a lot of those yourself and shave a little off the price here and there.
The tips above should help you afford the wedding you want, not force you to constantly down-size your expectations. It’s your moment, after all, and worrying about costs shouldn’t get in the way of it.

Do you have any wedding tips of your own to share? 

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