5 Ways to Estimate Your Wedding Cost
Congratulations! You are planning the happiest day of your life! This can seem like a daunting task to begin but all you need to do is make a budget and stick to it. The first thing you should establish is how much you will need to save to make your big day happen so you can begin to set dates and reserve vendors. Keep in mind, the average wedding in the United States is $25,000. Included here are a few tips to help you estimate what your dream day will cost you.
Choosing Your Venue
Your first decision in planning your wedding should be whether you want the ceremony performed locally or if you would prefer a destination wedding. The ceremony, reception and entertainment can take up to 60 percent of your budget.
If you choose to go low-cost, you may want to visit a beautiful venue in your area. For the exceptionally budget-minded, having your ceremony in the backyard or on the property of a family member could potentially cut your wedding cost in half.
Importance of Date
Getting married in the off-season can decrease your wedding costs exponentially. Keep in mind, this does not apply to holidays (think Christmas or New Years), but can decrease Saturday costs in the snowy season. If you are planning an outdoor wedding, be sure to consider indoor options in case temperatures drop or a rainstorm blows in. In the summer months, Friday and Sunday weddings almost always cost less than Saturday weddings.
Importance of Time of Day
The time of day you host your wedding can also be hugely influential in the cost. By choosing to have your wedding in the morning or early afternoon you will save a lot of green. Not only will your guests be drinking less early in the day, you will also have lower venue fees at most places.
Find Photographer Friends
Many argue that your photographer is the most important element of your wedding. You will want to have priceless pictures to last a lifetime. The cost of your photographer is usually 8-10 percent of your budget.
A few ways to save in this area would be to hire a friend or find a photographer who takes beautiful shots but is not yet well-known.
Attire and Rings
Some estimate the cost of the wedding dress is usually 8-10 percent of the budget, while the rings cost you about 2-3 percent.
Keep this in mind as you pick out your preferred white dress and your tokens of love. This may be an area you choose to cut back and save money in or you may find that 10 percent of your budget restrictive.
Wedding Planner
A wedding planner is a professional who assists with the design, planning and management of a client’s wedding. Weddings are significant events in people’s lives and as such, couples are often willing to spend considerable amount of money to ensure that their weddings are well-organized.
Wedding planners are often used by couples who work long hours and have little spare time available for sourcing and managing wedding venues and wedding suppliers.
Final Thoughts
As with any major purchasing decision, making and sticking to a budget is crucial for success; but remember that you are in charge of what is spent. If your emphasis is on the venue, use more of your budget for that and cut back on clothing or ring costs.
If your venue is your father’s backyard you will have much more money to spend on the dress, honeymoon or photographer. The average wedding cost is $25,000 but it is quite easy to spend less than $10,000. Find an amount you and your fiance can live with and build your dream day around it.
Category: Family Finances
