It may be a surprise to learn how much of a role finance play in wedding preparations. You would expect to spend most of your time sampling cakes and trying on dresses, but instead, you’ll be staring at your budget spreadsheet in Excel and wondering where your cash went.
Although I am both familiar with event planning and a generally organized person, there were many aspects of our wedding that we did not prepare for. Now that we have spent every last dime on our wedding, I thought I’d share some of our biggest financial mistakes so that other couples might avoid making the same mistakes we did.
Wedding Budget Mistake #1: Failure to Conduct Research
Inadequate preparation is by far the most common cause of wedding budget overruns. You should always consider your available resources and the constraints of your wedding budget before making any significant decisions.
Are you looking for a florist? Then, by doing online research, find local florists you feel represent your tastes and are within your price range.
However, there is a mountain of options; where do I start? Here’s where social media and recommendations from others come in handy.
Find local florists for the wedding by searching online directories. Check out their online resumes. Contact them and request price ranges and examples of their previous work.
Finally, consult your inner circle for advice. Can you think of anyone you know who got married recently? Is there a member of your family who works in the wedding business who can make a recommendation? Finally, select between three to five possible vendors using the information gathered.
Isn’t that a lengthy process? Certainly, but if funds are limited, time must be sacrificed.
As a result, TIME is how you may avoid the trap of committing to a dealer before understanding there is a better, cheaper alternative across town — or making a snap judgment based on feelings rather than facts (did anyone else spend too much on their wedding dress?). If you take the time to investigate all options, you can ensure that your wedding budget remains on track.
Wedding Budget Mistake #2: Failure to Prioritize Your Wedding Must-Haves
It’s simple to get overwhelmed by the number of potential nuptial arrangements after a recent engagement. Where should we hold this event? Find out which flower shop offers the most beautiful seasonal blooms.
You and your future spouse should sit down and discuss what aspects of the wedding are most important to you before you put down any money.
Deciding on a wedding band or DJ is best before you book the photographer, location, and flowers to avoid wasting time and money.
Once you and your future spouse have decided on a total amount to spend on your wedding, the next step is to decide on the three most significant aspects of the ceremony. Aiming to serve only the finest cuisine to your guests? Then write catering on your list of must-haves.
Having a beautiful ballroom as your wedding venue may be something you’ve always dreamed of, so you should prioritize allocating enough funds to make it a reality.
Once you’ve settled on the three most important aspects of the wedding, you may be more flexible with the rest. Keeping your wedding idea intact while staying within your budget can be accomplished by making three wedding aspects a priority and being highly flexible with everything else.
Wedding Budget Mistake #3: Failure to Keep Track of Your Expenses
The quickest way to go over your wedding budget is not to keep track of your spending. We have found that unexpected costs tend to throw our couples’ budgets off the rails.
- Have you forgotten about the bridal party gifts you’ll need to buy?
- You neglected to provide funds for vendors’ tips, did you?
- Have you failed to account for the time a particular provider will take to complete their work for your wedding?
These are all avoidable ways to blow your wedding budget and send you into debt.
You might, for instance, have considered buying drop-off catering for your wedding to cut down on labor expenditures. However, who will serve as the cake’s cutter and server? And as the evening progresses, who will clear your tables?
Your wedding budget doesn’t have to break the bank if you’re creative. To stick to your financial plan, you need to think critically about the services and the supplies to be acquired and then keep meticulous track of your outlays. Don’t worry; you won’t be expected to anticipate every cost yourself. This is just one example of the many excellent wedding budget spreadsheets available.
Final Thoughts On Wedding Budget Mistakes
The only thing a bride or groom wants on their wedding day is for it to go off without a hitch and to be a complete and utter success from start to finish. Whether you hire a wedding coordinator to ensure that you have not made any of these typical mistakes regarding your wedding budget or set aside additional planning time to implement these budget recommendations, your wedding day will be improved.