Don’t Break the Bank: Creative Ways to Save for an Upcoming Wedding
From destination weddings on white sandy beaches to luxury cruise weddings, couples are getting creative when it comes to new and exciting ways to celebrate their nuptials.
Opulent dream weddings often come with a price tag, even for those in the bridal party. That’s why members of a wedding party should be mindful of the costs associated with a wedding.
Take a look at these cost-cutting practices designed to keep you from breaking the bank:
Set a Personal Budget
The most important step in any financial planning or cost endeavor is setting a budget. List all of the expenses you can think of. This includes logistical expenses like travel, hotel, car rental, meals, and entertainment.
Some weddings pass along expenses like hair, makeup, and clothing to the bridal party. If that’s the case, you’ll want to incorporate those numbers into your budget, too. The bridal shower and bachelor and bachelorette party costs are often paid for by members of the bridal party, so be on the lookout for those added expenses.
Now that you have all the numbers, you’ll be able to wrap your mind around the total dollar amount. You can trim and adjust your budget accordingly and begin the saving process. If you find budgeting to be difficult, try using a tool like the Monorail app to help you list and save for specific items in your budget.
Use Your Network
You might be surprised about the power and reach of your personal network. From colleagues and business contacts to your college classmates, they can all play a significant role in reducing expenses associated with bridal party and wedding day logistics. Spread your message and ask everyone in your network if they know of any good deals or contacts who might help you save money.
For example, instead of hiring an expensive bartender, someone in your network is bound to know a pro who can offer a better price. Networks work for other areas of the wedding party, too. Are you looking for a photographer, florist, or massage therapist for members of the party? Someone in your contact list likely knows a good one who can offer a competitive price. Just ask because networking works wonders on any budget.
Have a Clear Financial Conversation with the Bride and Groom
It’s a joyful time for the bride and groom. Emotions are high as they prepare for the most incredible day of their lives. The last thing anyone wants to talk about is money. But you have to.
Find out the exact dollar amount the bridal party members are responsible for. The last thing anyone wants is a misunderstanding based on assumptions that result in hidden costs.
Email conversations work best because you can include cost breakdowns, receipts, contracts, and financial statements to help manage and record all of the numbers.
Now that you’ve practiced some traditional cost-saving measures so you can attend the wedding, there are always more ways to save money. Chances are you’ll be friendly with someone else at the wedding party. Perfect, you just found your new travel partner. Sharing hotel rooms, meals, cars, and other logistical costs is one way to save money.
Don’t forget to speak up. If you see an astronomical dollar amount for an unnecessary expense that the wedding party is responsible for, then speak up and suggest a more sensible alternative. It’s your money, after all.
Do Your Homework
In most cases, weddings are a calendar year away. That’s enough time to create a lean budget and start saving. If you do your homework, you may be able to find additional cost-saving measures like booking flights and hotels in advance. Try monitoring fares and purchasing the tickets when fares are lower. Never wait last minute to buy hotel and airfare, as you’ll always pay premium prices.
Don’t Forget to Celebrate
Stay proactive when it comes to saving for a wedding. Attending a wedding can put a dent in your finances, but if you follow these simple steps, you’ll be ahead of the curve and then can enjoy the celebration with the bride and groom on their special day.