The times, they are a-changin’, and couples nowadays love breaking wedding traditions left and right! But guess what? One tradition that’s still going strong is parents paying for the wedding. Ain’t we lucky? Yep, we are still chipping in quite a bit, even though many couples try to contribute, too. According to the Brides American Wedding Study, parents cover around thirty-five to forty-two percent of the total wedding costs. Gulp! That’s a serious chunk of change! Traditionally, the bride’s family takes on the major expenses: the wedding dress, bridesmaids’ gifts, the wedding planner, invitations, flowers, reception, photography, groom’s ring, music, pre-wedding meals for the wedding party, transportation, lodging for the bride’s family and bridesmaids, and even transportation for guests if needed. Whew, that’s a lot of commas in that list! Now, we get it. Weddings can be crazy expensive these days, and it’s tough for most people to foot the bill. But fear not, we’ve got some friendly tips for you to throw a great wedding while still saving some of your hard-earned cash!
So Many Questions—But We Have Answers
When should we start planning? How do we go about it? How much cash needs to be put aside? What are any tips and tricks to get the ball rolling? It’s pretty overwhelming, but let’s take a deep breath and discuss how to throw a lit wedding—as the kids say—while still being conscious of the budget:
Settle on a Budget, and Start Saving—Like Yesterday
Don’t procrastinate—start saving early. The key? Sit down for a heart-to-heart discussion about how much you’re ready to contribute to your child’s special day. Figure out if you want to cover the whole shebang or just a part of it. Together, find a price range that feels comfy and allows you to save for the future, too. Open a savings account and regularly squirrel away small amounts dedicated to those magical moments. And say goodbye to the old-fashioned notion of the bride’s parents paying for everything. Nowadays, it’s all about teamwork: bride’s parents, groom’s parents, and the couple themselves sharing the expenses.
Communication Makes Cents, err, Sense
Once you’ve figured out what needs to be paid for based on your contracts with venues and vendors, set up a spreadsheet highlighting a special part of the wedding to handle, like the rehearsal dinner, florals, reception venue, and/or vendor costs. You can calculate expenses based on a percentage or the number of family members and friends who will be there to celebrate. Make sure to discuss any expectations that might come along with a financial contribution. If one side is covering a big chunk of the expenses, will they want more say in the guest list, decorations, venue, or even the menu? It’s essential to have everyone on the same page from the beginning to prevent any surprises or tensions down the line. So get ready for some joyful chatting and planning to ensure the good times roll!
Outside-the-Box Creativity
Working to eliminate expenses can equal big savings. Have a sweet property but a tight budget? Let your child have their wedding and reception right at home: a beautiful ceremony in your spacious backyard or a lively reception on your turf. It will add a personal touch and can save a bundle of money. Here’s another tip. Getting hitched on a Friday or during the off-season can trim those venue costs.
Show Me the Money!
Easier said than done, right? If you have started late or are not confident in coming up with the needed funds, home equity loans can be a real game-changer, but make sure to take on this liability wisely. If you are not familiar, these loans let homeowners borrow against some of their home’s value to tackle high-interest debts, which is pretty cool. Plus, the interest is often tax-deductible, which is a nice perk. Also, consider using credit cards for deposits—it offers better protection against any issues or fraud. Just make sure to keep those receipts safe and sound for future reference.
Ballers on budgets can still throw badass weddings. Plan. Communicate. Be creative. And reach out to Alpine Events, as we can provide an assortment of items to keep your budget-conscious wedding beautiful.
