On average, the US couple spends $26,542 on their wedding day, with most spending between $19,000 and $33,000 (not including the honeymoon). Many turn to parents for help with this financial hurtle, and if parents are not available, they turn to credit cards. Instead of starting a life together several thousand dollars in debt, here are a few tips to cutting wedding expenses:
1. Make a budget. Ok, so this doesn’t seem quite as cost cutting. But it is still one of the best ways to make sure your expenses don’t get out of hand. There are several different wedding budget forms available for free to download – you can even make your own in Excel. Just make sure that your budget is realistic and attainable – and then stick to it.
2. Have your wedding on a Friday or Sunday. Saturday is the standard wedding day. As such, most vendors are booking their Saturdays, but their Fridays and Sundays are wide open. In order to close the gap, vendors are willing to give discounts to anyone with a Friday or Sunday event. Some discounts are only 10%, but others can stretch as far as half off.
3. Focus on the venue first. The reception venue is easily the largest percentage of wedding expenses. Especially if a sit down dinner is involved. Make sure that you know your budget for the reception venue going in – on average, food/drinks/venue cost 50% of the entire wedding budget. If you focus on the reception venue and get a great deal up front, you will be on track for that first half of your wedding expenses!
At the end of the day, you will be married regardless of how much money you spend – so why not save a little?
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