With the average cost of a wedding in the U.K being reported as just under £32,000, your special day can significantly set you and your partner back when it comes to your finances.
Setting a budget for your wedding might seem unromantic, but giving thought to the various expenses you will need to cover for your upcoming nuptials will not only save you money but can also help you and your partner to manage your finances in the long run and avoid overspending.
By taking the guidance below into account, this article will help you avoid overspending for your big day.
Set a budget
Before you start spending it is important to have a figure in mind that will cover all your wedding expenses. This will serve as a valuable guide helping you decide how to allocate your money and help you to avoid overspending.
There are many ways to pay for your wedding, and factoring these into your budget will help you arrive at a total figure. You may be using your savings, borrowing money through a loan or spending from your credit card. If any family members have offered to contribute to your day, include these amounts in your calculations.
Come up with a detailed list of all of the purchases you will need to make such as venue hire, catering, entertainment and wedding dresses. Make this list exhaustive, as it can be taking into account miscellaneous wedding costs like postage stamps, favours and wedding attire alterations.
Remember to also factor in unexpected costs that can arise last minute. Whether it’s cake cutting costs, corkage or beauty trial costs, there will likely be hidden expenses that crop up whilst planning your wedding. It is advisable to set aside a cushion of 5% to 10% of your wedding budget as an emergency fund.
Make a guest list before you start planning
Before you start planning, make sure you have a rough idea of the people you are inviting. This will determine many of your expenses such as the size of your venue and the amount of catering required. It will also influence the number of invitations you need, the amount of postage and even the size of your cake.
Having the number of guests you intend to invite in mind can help in choosing a wedding venue, as the costs per head will determine whether you can afford it or need to make some revisions to your list. If your guest list exceeds your budget you can then start to consider your other options, such as introducing a ‘no children’ or ‘no plus one’ policy, whether you need to reduce the list or limiting numbers significantly to just family and close friends.
Find bargains on any purchases
Most wedding days are a grand production that involves collaboration with exceptional wedding professionals such as hair and make-up artists, musicians, photographers, florists and cake makers. However, there will also likely be elements you’ll need to purchase yourself - especially if you opt to save money by going DIY for certain elements.
Bargain hunt on these purchases! You can save money by going onto sites such as dontpayfull.com which can offer great deals and discounts for many of your wedding needs from popular websites.
With these three tips, you can now begin planning your perfect wedding.