The average cost of a wedding in 2006 was a staggering $18,000 dollars but with the deepening recession couples have to look at more effective ways to budget for their weddings. This economic change has meant that couples have had to change their expectations and look at other options. As the table below shows couples were spending staggering sums of money on extra’s which could now be deemed as unnecessary luxuries.
Financial Planning – Before planning a wedding you should determine your maximum budget and see if anyone will be helping in coverings the costs. Traditionally the bride’s father pays for a wedding but in modern times the groom’s father helps out. The budget you set should also be realistic.
High Interest Bank Accounts – Setup a high saving interest account for your wedding budget. Save as much as possible and watch the interest role in. Bills don’t always have to be paid up front and you should explore the possibility of interest free payment plans.
Being Creative – With some creative thinking costs can easily be slashed. Review the guest list and only invite people who are close to you and your partner. Use friend’s contacts for areas such as the evening entertainment and catering. Another great area for cost saving is invitations. Don’t waste money on expensively engraved invitation cards.
Online Wedding Planners – The number of online wedding planners has steadily been growing over the last few years and these services have some huge benefits. For example these services do a lot of the time consuming research for you. They will provide you with opportunities which most people won t necessarily find and offer discounts. These are well worth a look.
Budget Venues – Competition between wedding venues is higher than ever meaning that with some simple research you could bag yourself a bargain. You will also find smaller lesser known venues offer great rates. Hotel groups are also worth considering and wedding venues in the North West are particularly good value.
Refine Your Menu – Food is often one of the biggest costs at a wedding and many couples choose to provide guests with more than one meal. This is often not necessary as guests are usually well fed from the mail wedding meal. Also consider which courses you want to be served and look at the drinks being served. There are many ways to make savings here. Food can taste great but doesn’t necessarily have to be super expensive.
Photography – Wedding photography is typically very expensive but there are a number of ways to reduce your costs in this area. For example many photographers will include album work and processing costs within their bill. You can easily create an album of similar quality yourself. It will take a bit of time to find a good album case but the savings can be significant. You can also limit the amount of photos taken or ask for smaller sized prints.
It is without question that your wedding day should be special however you don t have to break the bank to have a good time. The most important thing is being around your family and friends.
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