Wedding Budget Saving Secrets
Weddings aren’t cheap. Did you know that Aussie couples spend over $36,000 on average for their wedding? Statistics say that we spend the most money on engagement rings, honeymoons, transport and entertainment. What are your priorities? Whether you want a low-key wedding or an extravagant affair, you need to breakdown the numbers. Most importantly, you should decide where to save and where to splurge. Here is how to cut costs and save up for things that matter most!
Define Your Wedding Vision
Of course, every bride and groom have their own unique wedding vision. You may want to pay for extravagant attire and the best photographer while saving on venue and flowers. Or you just want to splurge on your honeymoon and host a really simple wedding. The key wedding budget savings secret? Know exactly what you are saving for! Establish your top priorities and cut costs in other areas. Finding a high-interest rate savings account will help you achieve your wedding budget goals. It is actually possible to have your dream wedding without breaking the bank!
Work Out Your Wedding Budget Breakdown
Not sure where to start for your wedding plan? The best thing to do first is to decide how much you want to spend on each aspect of your wedding. Do you want to spend $5,000 to $10,000 on your honeymoon? This is an average honeymoon cost, but you can choose to spend more or less than that. Do you want to pay over $10,000 for your wedding reception? Or are you willing to pay for a custom-made wedding gown which can cost $6,000+? It helps to split your total budget into categories. This will help you monitor your spending in the future. And don’t forget to count in all the minor costs such as hidden expenses and miscellaneous purchases. Once you make this plan it will be easier to save money and keep track of your expenses. Do you already have a high-interest rate savings account? Start stashing up for your dream day as soon as you figure out the budget breakdown.
Identify Easy Ways to Cut Costs
But to make a better budget breakdown, you need to figure out where you can save. There are some really easy and effective ways to cut costs. This does mean making a few compromises though. The first suggestion is that you can choose not to marry on a Saturday – which is typically the most popular day to hold weddings. Hold your reception on any other day and it will cost you much less money.
A second alternative option is to pick an unpopular wedding date. Many venues across Australia have considerably lower prices during the autumn and winter months. This means you can bag a really good deal!
There is also a third approach. You can keep the date you want but look for cheaper venues. Newly-established venues often offer better prices than renowned ones in the same area. Or try to find a location and venue that is off-the-beaten-path but offers something special like great views or interesting menus.
Brides usually spend a lot of money on their wedding dresses. It is hard to resist the temptation to purchase a fabulous designer gown or to order a one-off custom-made piece. The very idea of budgeting probably doesn’t go well with wedding dress shopping. But it is possible! Just spend some time browsing sales and you might dish out a rare find at a lower price tag!
It is also easy to save money on food and beverage. One way to do it is to trim your guest list. You will be paying per person and it is so easy to do the math. You can also opt for alternative methods such as hosting a cocktail hour reception, limiting your bar, ordering a smaller cake or replacing champagne with prosecco or cava.
Find Clever Ways to Save Money
There are also some great, less obvious ways to save money on basic things and leave more for things you value most. The first thing you can do is ditch the engagement party altogether. Why spending money on a bash when you can save more for the ring or for the wedding itself! It is also a good idea to go paperless and choose digital save-the-dates and wedding invitations. Since wedding stationery usually makes 5% of a total wedding budget, this is quite a lot of money. Following the same logic, you can also replace your live entertainment with a good wedding DJ app! And if you want to cut wedding flower costs, why not choose fashionable greenery over expensive blooms or consider minimalistic but cool non-floral décor…
Finally, you can skip the hassle of planning a grand wedding and host a smaller destination wedding. Combine your wedding and honeymoon to really maximize your budget. You can keep it really low key and quickly save up using a high-interest rate savings account. The most affordable overseas beach destinations much-loved by Aussie couples include Bali, South Africa and Mexico.
Alex Morrison has been an ‘Integral Media‘ Expert for over 10 years. In this time he has worked with a range of businesses giving him an in-depth understanding of many different industries including home improvement, financial support and health care. 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.