Financing Your Big Day

These days, especially depending on the area that you live in, weddings can be one of the biggest expenses of your life. Many weddings these days can cost considerably more than a new car and some can run as much as the couple’s first house. Many couples are left asking themselves how their wedding got to be so expensive. On a day that is supposed to be the biggest day of their lives, it can often seem like the cost of the event is overshadowing the event itself.

One thing to keep in mind is that a wedding is also the start of a marriage, not simply an event that ends when all your guests leave the reception. After all the fun is over, someone will have to pay for it. If that someone is you and your future spouse, you want to be careful about saddling yourself with excessive debt at the very beginning of your new life together. Couples who are to shoulder the entire financial burden of the wedding themselves often resort to maxing out their credit cards and even taking out wedding-specific loans. Here’s a secret: your wedding day can be just as fun (and maybe more fun) on a budget that you can afford.

One key to financing your wedding successfully is to set an initial budget before you spend a dime. This number should include at least what you can afford and what the parents of the bride and groom are able to contribute. While it has traditionally been the bride’s family who was left to shoulder the burden of the wedding, this piece of wedding etiquette is becoming increasingly obsolete. Don’t be afraid to ask the groom’s parents. Just make sure everyone knows that you don’t expect them to contribute and that you are simply asking if they would like to contribute. Once the initial budget is set, be sure not to go over your budget.

However, you shouldn’t be afraid to get creative about where you find money for that initial budget. Start by trying to avoid purchasing bridal magazines. Not only are they usually $5 to $8 apiece, but they typically show the most lavish and expensive possibilities for each aspect of your wedding. If you’re not aware that these options are supposedly “normal,” you’ll be more likely to choose something more affordable. You’re also more likely to choose something that you truly want, as opposed to something that you just think you’re supposed to want.

You can also try to creatively add to your income level during your engagement in order to make a few extra dollars to add to your wedding budget. You might find yourself a little more tired at the end of the day, but it will be worth it when you’re able to upgrade that key element of your wedding that you’ve dreamed of your entire life. Depending on your lifestyle, you may be able to add thousands of dollars to your budget before the big day. Look for things in your possession that can be sold on eBay or try to market a particular skill to people who could use it. You’d be surprised what a little persistence can do for your wedding budget.

It might be beneficial for you to be open to the possibility of renting out some of the space in your wedding in exchange for a discounted price from your vendors. The wedding industry operates primarily on a word-of-mouth basis, so it can be very valuable for vendors to be able to get their name out at your wedding. Allow the photographer to put their name in your program or your caterer to leave a business card at each table. If you work out this type of deal with each vendor you might be able to shave 25-50% off the cost of your wedding.

Finally, get creative with the type of gifts you ask for from your guests. While you will probably get some cash from friends and family that might help cover the cost of the wedding, it is generally considered tacky to specifically ask for it. However, you have other options. For instance, many vacation resort companies offer services that allow your guests to donate to your honeymoon fund. For couples that have already lived on their own for a few years and have many of the household items traditionally given at a wedding, this can be a great way for them to finance an aspect of getting married that they don’t already have covered.

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