Have you dreamt of a lavish and opulent destination wedding since you were a little girl? Or perhaps, you want to enjoy a spectacular round of festivities with a picture-perfect wedding album? Unfortunately, planning a wedding is difficult, and the expenses tend to add up at the speed of lightning.
No wonder millions of brides transform into ghastly bridezillas in the days leading up to the wedding day. Many people wonder, is there a way to plan my dream wedding without breaking the bank and spending thousands of dollars?
Indeed there is! It all boils down to efficient planning, savvy negotiation skills, and effective financial management. So keep reading to pick up some practical money-saving tips to plan your dream wedding with a mindful budget, and you can also consult with a destination management company in Thailand for more money-saving ideas.
1. Extensive Research & Planning
Your goal is to plan your dream wedding without going overboard on your budget or compromising on any aspect of your vision. Naturally, this endeavor requires you to land excellent deals and identify vendors with the best prices. Research is the ultimate tool to rely on when it comes to landing lucrative and well-priced deals.
Start as early as possible. Savvy brides-to-be start hunting for caterers, dressmakers, venues, and florists right after getting a ring on their finger. Planning and research are tedious processes, so the more time you have, the easier it is to land good deals.
2. Take out a Loan
Brides with a shining credit score and efficient debt management skills can explore the option of taking out a loan. For example, suppose your Big Day means the world to you, and you desire nothing more than an idyllic wedding. In that case, taking out a sizable loan makes sense to give yourself the wedding of your dreams.
Contrary to what most believe, taking out a wedding loan is a popular and surprisingly common strategy in the US. Many couples plan opulent destination weddings by taking out a hefty loan with reasonable interest rates and flexible repayment plans. Couples with a healthy credit score and savvy debt management abilities can explore this option without much fear.
Do you know what's riskier and more financially damaging than taking out a loan for your wedding? Using your credit card to pay off wedding expenses is a terrible strategy that can lead you towards a vicious debt cycle. You see, credit card payments come with excessively high-interest rates, and paying off the balance becomes an excruciating struggle.
So, if you don't have ample savings to plan your dream wedding, taking out a loan is a viable solution. Just avoid borrowing more than your financial worth, and explore lenders with affordable interest rates and flexible repayment options.
3. Efficient Budgeting
Setting a realistic and flexible budget is the key to avoiding financial troubles while planning your dream wedding. You may go overboard on your budget, and there's nothing wrong with that as long as you have a comprehensive roadmap. Budgeting supports affordability by keeping you on track and covering your basics effectively.
Your budget must account for the following expenses
- Venue & reception expenses
- Décorations, chair covers and flowers
- Caterers
- Wedding dress & accessories
- Jewelry & wedding rings
- Wedding cake & favors
- Entertainment (DJ, dancefloor & lighting, etc.)
- Wedding invitations
- Photography & videography
- Gifts for the bridal party
- Miscellaneous expenses
Typically, reception costs for the venue, decoration, flowers, and food amount to 50% of the budget. Most couples do not include the expenses for clothing and rings in the event budget they plan to share. Others take out wedding insurance to cover for unforeseen emergencies and mishaps.
4. Financial Support from Family
Will your parents help you pay for the wedding expenses? If yes, you can plan your dream wedding with a comfortable cushion and splurge on elements that attract you. It's wise to allocate the financial support from your parents towards the necessary details.
For instance, use those funds to cover the venue, caterers and entertainment, and other essentials. Then, you can comfortably splurge on the wedding dress, jewelry, and decorations.
5. Savvy Negotiation Skills
Do you consider yourself an excellent negotiation with savvy bargaining skills? If not, then it's wise to ask a family member or friend with savvy negotiation skills to accompany you on all appointments. Negotiation is the key to landing an excellent deal without compromising on the arrangements and luxury you desire.
Naturally, research is just as essential as negotiation savviness to find businesses and vendors willing to negotiate. In this endeavor, you will find it much easier to negotiate and work with small companies and startups. Family-run startups and small businesses are more eager and willing to accommodate small budgets to build a loyal clientele.
6. Working with Small Businesses
Independent florists, home-based caterers, and newbie event planners can help you achieve your dreams on a mindful budget. However, working with inexperienced professionals is never advisable as it runs the risk of ruining your big day.
Be sure to investigate each vendor and professional thoroughly before signing them on board. And at all costs, look for local vendors. For example, if you live in the Houston area and are looking for someone to take your engagement photos, simply do a quick search for engagement photographer in Houston to find the best who will capture every special moment. If you’re satisfied with their work, you can also hire them to take your wedding photos as well.
Client testimonials and portfolios will help you understand their capabilities and work experience for pragmatic decision-making. Negotiating with florists, caterers, and other vendors will allow you to plan everything on a controlled budget.
7. Avoid Splurging on Non-Essentials
What are the wedding essentials that guests rave and rant about for days after the wedding is long over and consummated? Typically, these elements include the food, decorations and ambiance, and entertainment. But, of course, the bride and groom's attire is also one of the most discussed and admired centerpieces of a wedding.
Spending on non-essential elements, such as fancy wedding cards, stationery, and table décor, is an utter waste. Wedding invites usually get tossed aside, while table name tags end up getting trampled over by children. So, why invest in elements that won't stand out and add to the opulence of your wedding?
Instead, spend on gifts for the bridal party, and consider adding scrumptious feasts to each event. The décor is another splurge-worthy element that will create a romantic ambiance for your guests and wedding album.
Conclusion
Planning a dream wedding is much easier than most couples imagine. Armed with research and a flexible budget, you will find yourself breezing through the process. However, if you start planning 3-4 months before the big day, brace yourself for turmoil and frustration.
We cannot emphasize enough the significance of beginning the wedding planning journey as early as possible. The earlier you start, the more research and knowledge you will accumulate to make savvy decisions and land excellent deals. Last-minute planning usually leaves little room for negotiation due to the urgency of scheduling everything on time.
