Scotiabank: Planning Your Wedding on a Budget
If you’re planning for your own wedding, it’s easy to get caught up in fantasy thoughts about your big day. However, financing a wedding celebration can be an expensive undertaking, so it’s important to strategize carefully to ensure that your big day doesn’t break the bank.
Here are some ideas that can help you to create your dream wedding on a tight budget:
Make a list of expenses
You should first itemize all the expected costs associated with your wedding celebration. Some of the major expenses to consider include invitations, location rentals, decorating, catering, clothing, wedding rings, photography, entertainment and honeymoon travel.
Shop around
Get quotations from at least two or three companies that provide the products or services on your expense list.
Cut food costs
Food can be one of the biggest expense items on your list. Have an early wedding and serve brunch to reduce the cost of a dinner reception or opt for a cocktail reception instead of a more formal event.
Get creative with decorations
Cut back on your decorating bill by finding a beautiful garden setting for your reception, which needs minimal adornment.
Enlist help
Don’t be timid to ask your friends and family for their assistance at this time.
Prioritise your wants
If your budget doesn’t allow you to have all the things you originally desired, then settle for what’s really important to you. Decide on a major item that would make your wedding most memorable and put more of your spending dollar in that area.
Create a savings plan
After settling on your final costs, you have to consider how you will finance the affair. Some people may decide to borrow money for the wedding but it’s not a great idea to start your married life in debt. The best way is to cut back on other expenses and save aggressively over time towards your required target.
Don’t forget that your wedding day should not be defined by the physical elements of the celebration, so don’t be disappointed if you can’t afford all the fairy-tale ingredients. Instead, remember that you are celebrating your love and that is truly priceless.