Oct 18

Wedding Planning Financial Advice

A couple weeks ago Credit Card Insider published a list of financial advice for newly engaged couples.  I was asked to contribute my tips and advice to couples, along with past brides and other wedding professionals.   Money can be a huge stress factor when it comes to the wedding planning process, and while they just shared one little blurb of what I had to say, here’s little more insight.

Parents of the Bride

Finances are a big part of planning a wedding and often a subject that couples don’t even know how to begin to approach  (Umm… Mom? Dad?  Can I get a little help here?!).  Normally I say that the very first step in wedding planning is setting a budget (and sticking to it!!), but I have started to shift a little from that.  It doesn’t do a couple much good to set of budget of say $5,000 when they’re planning on inviting 300 guests and there isn’t a caterer in the area that will provide dinner for under $25 a plate.  You’ve just blown through that budget and haven’t even fed everyone!  So the budget must be realistic for your wedding market.  Do a little research and find out what you should generally expect wedding vendors to cost.

Then set your budget and stick to it!

The engagement period leading up to your wedding can be a highly stressful time.  You are embarking upon this journey together, planning the start of your ‘happily ever after’ and on top of that there’s money being spent in every which direction.  So keep track of your spending.  Many couples choose to open a special bank account used just for the wedding purchases, and when the money’s gone they are forced to stop spending.

If your budget allows, hire a wedding planner or designer who will help you come up with a cohesive and fabulous scheme for your wedding day.  By having a plan (think blueprints or roadmap for your wedding) you can eliminate the urge to impulse buy.  All the details you need are all written in black and white which alleviates that temptation to change your mind because you saw something cute on Pinterest.  In addition, your wedding planner will help you stay accountable to your purchases.  They can help you ensure you’re spending your money where it will have the biggest impact – you’ll get more bang for your buck!

The last thing on earth you want to do is go into debt financing your wedding.  Know your limits.  If the budget is tight, consider having a small and simple dinner party to celebrate or perhaps just a cocktail reception.  Stick with what you’re comfortable with and not what others expect of you, unless of course, they’re chipping in to help foot the bill.

And have fun planning!


Photo by the fabulous Shannon Scott {Smug Shots}

  1. I love what you guys tend to be up too. Such clever work and coverage!

    Keep up the excellent works guys I’ve you guys to my own blogroll.

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