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Your wedding day is one of the best days of your life and it can be this way without breaking the bank. It has become normal for people to spend tens of thousands of pounds on their big day but you can carry off a fantastic day on a budget without missing out on the things that you want.
The first thing to do when organising your wedding is to set a budget. This way you know exactly how much you have to spend and can use this to plan what you buy and book. Sticking to this budget can help to ensure that you get your marriage off to a good start with taking any debt or financial worries into it as a result of overspending on your wedding day.
Next up is prioritising what you want in your wedding to ensure that you have the budget to cover the things that are most important to you. For example, if you have your dream venue in mind make sure that you get a quote for that first so that you know how much money you have to use afterwards. This means that you don’t have to worry about running out of money before you have booked it.
If you are going to wait a while to get married and will be saving for the big day, ensure that you are putting all of your wedding money into an account with a good interest rate. This way your savings will slowly grow alongside the money that you are putting in and every little helps! Having savings available for your wedding costs will also help to ensure that you do not get into debt.
Do any of your family members or friends have talents which you can utilise? For example, a fantastic baker, a keen photographer or a craft-crazy invitation creator? If so you could save money through asking them to help you with those things that they are good at. You could also ask a friend with a nice car to be your chauffeur! People love to help out and they will see it as their wedding gift to you too. You can also save money by getting creative in making your own centrepieces and name cards!
The date that you book your wedding can have a massive impact on the cost of your venue. Saturdays are the most expensive as this is the most popular day to get married so venues can charge high process due to high demand! The same is also true for the peak wedding months between May and September. If you can try to choose a weekday in an ‘off-peak’ month. This has been known to bring the venue cost down by 50% and you may decide that it is better to have your dream venue than have a Saturday wedding. The same goes for booking services such as catering, DJs and photographers; they are all likely to drop their costs for a weekday booking.
Another tip on saving with venues and suppliers is to not mention that you are hiring them for a wedding. Suppliers in these trades know that people want the best for their wedding and are likely to be happy to pay over the odds for what they want. Where possible don’t mention the word ‘wedding’ until they have given you a cost. The service that there providing will be the same whether it is a wedding or a big party that they are being hired for so when you do mention it is a wedding their quote should still stand.
Even if you have your heart set on using certain companies it is best to shop around for the best deal. Even if you just use the cheaper quotes to haggle with the companies that you want to use!
Use a credit card to book or purchase anything over £100. This way you will be protected if the company that you are using goes into administration. You could also use a card that offers cashback to earn yourself a bit of money while you buy supplies! It is also worth looking into wedding insurance to cover you if plans are cancelled beyond your control.
The most important thing to keep in mind is that it is your wedding and you should not worry about doing things differently in order to save money and stay debt free. As long as you have all of your favourite people there everyone will have a great time and you can have a day that you will remember forever.
By Sasha Davison
If you have found that organising your wedding has added to an ongoing debt problem you can contact Valour Financial Management for debt management advice and services.
26th February 2014
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