7 Mistakes Couples Makes That Can Ruin Their Wedding Budget
Most couples dream about having an extravagant wedding to celebrate the occasion. One of the most difficult
aspects of planning a wedding though is creating a wedding budget. Every decision you make from the venue you choose
to the guest list count and chosen vendors are all affected by how much you’ve allocated.
aspects of planning a wedding though is creating a wedding budget. Every decision you make from the venue you choose
to the guest list count and chosen vendors are all affected by how much you’ve allocated.
But even with a wedding budget it’s surprisingly easy to end up spending more than expected. Continue reading to learn
about the most common wedding budgeting mistakes couples make and what to do instead.
about the most common wedding budgeting mistakes couples make and what to do instead.
Creating Estimates Without Researching
A common piece of advice is to create a spreadsheet with estimates for each aspect of the wedding. Doing so helps
to give you a better idea of estimated costs. But creating estimates without any research to support those figures could
lead you to underestimate the actual costs. Instead, reach out to multiple venues and vendors to come up with more realistic figures.
to give you a better idea of estimated costs. But creating estimates without any research to support those figures could
lead you to underestimate the actual costs. Instead, reach out to multiple venues and vendors to come up with more realistic figures.
Not Finalizing the Guest List
The final guest list count has a huge impact on your wedding budget. The average cost per guest is $258 according to a survey from
The Knot. Even if you want to invite everyone you know, it may not be financially feasible to do so. Make sure to finalize your guest
list by setting a deadline for invites and don’t be afraid to limit plus ones. Accommodating any last minute requests will have you
exceeding your budget.
The Knot. Even if you want to invite everyone you know, it may not be financially feasible to do so. Make sure to finalize your guest
list by setting a deadline for invites and don’t be afraid to limit plus ones. Accommodating any last minute requests will have you
exceeding your budget.
Not Allowing Some Breathing Room
Even if you finalize costs with vendors, there will likely be unexpected costs. Some examples may include vendor transportation
costs or paying for additional prints of your photos. Set aside at least 5% of your budget for miscellaneous costs. And if you don’t
use the allocated amount, you can always put it towards your honeymoon fund. Be sure to ask suppliers up front about any additional
costs and read the fine print of your contract before signing.
costs or paying for additional prints of your photos. Set aside at least 5% of your budget for miscellaneous costs. And if you don’t
use the allocated amount, you can always put it towards your honeymoon fund. Be sure to ask suppliers up front about any additional
costs and read the fine print of your contract before signing.
Making Impulse Decisions
It happens to all of us – You see something that you just have to have so you immediately buy it right then and there without hesitation.
But later it might turn out that you actually didn’t need it or you could have found a more cost effective alternative. Before buying anything
for the wedding, take a moment to consider whether it’s actually a meaningful purchase and decide with your partner.
But later it might turn out that you actually didn’t need it or you could have found a more cost effective alternative. Before buying anything
for the wedding, take a moment to consider whether it’s actually a meaningful purchase and decide with your partner.
Not Tracking Expenses
There are so many things to pay for that it can be difficult to keep up with everything. But you definitely want to get into the habit of tracking
all expenses related to the wedding. Download the spreadsheet onto your phone or keep a detailed notebook on you at all times to make it
easier to track how much you’re spending.
all expenses related to the wedding. Download the spreadsheet onto your phone or keep a detailed notebook on you at all times to make it
easier to track how much you’re spending.
Booking Multiple Vendors
Vendors typically have their own individual costs which also cover their services and travel expenses. These costs can add up with the more vendors
you book. Instead, try to limit the number of vendors involved. Be sure to also ask the venue about any additional services that are offered and the
costs for each. Streamlining vendors ultimately saves you time and money.
you book. Instead, try to limit the number of vendors involved. Be sure to also ask the venue about any additional services that are offered and the
costs for each. Streamlining vendors ultimately saves you time and money.
Not Prioritising
Prioritizing items on a budget is important so you can allocate more money and effort on the things that matter to you. Many couples simply work through
their checklist of items and make purchases without a particular order. Instead, sit down with your partner and create a short list of priorities together.
That way you’ll be in a better position to make key decisions which vendors to prioritize and which ones you can cut out.
their checklist of items and make purchases without a particular order. Instead, sit down with your partner and create a short list of priorities together.
That way you’ll be in a better position to make key decisions which vendors to prioritize and which ones you can cut out.
Wedding budgets can be rather stressful but taking the time to research your options and staying organized will make things much more manageable.
If the wedding is still many years from now, consider opening a high interest rate savings account. You can use the funds you earn from interest to pay
for portions of your wedding.
If the wedding is still many years from now, consider opening a high interest rate savings account. You can use the funds you earn from interest to pay
for portions of your wedding.
Author’s Bio
Alex Morrison has worked with a range of businesses giving him an in depth understanding of many different industries including event management,
financial support and signage. As the owner of Integral Media, he is now utilising his knowledge and experience with his rapidly increasing client portfolio
to help them achieve their business goals.
financial support and signage. As the owner of Integral Media, he is now utilising his knowledge and experience with his rapidly increasing client portfolio
to help them achieve their business goals.
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