Quote of the Week

Quote of the Week

Wednesday, April 28, 2010

Wedding Finances..Budget Ins and Outs

Today we are discussing the nitty gritty of wedding finances. Probably the least favourite aspect of planning a wedding. If funds were unlimited, couples could have an extravaganza of a lifetime. But we could say that about all aspects of life as well, if funds were unlimited.

But just before we get to the finances, I would like to let you know that the comment sections of my blog have been fixed and you can feel free to leave comments. I was advised by a few people that they had tried to leave comments and were unable to. Unfortunately, the comments section was disabled (unsure why), but happily, it has been rectified. Now to the nitty gritty:

The current economic situation hasn't put a damper on couples wedding plans. According to Wedding Bell's Annual Reader Survey, the average expected cost of your big day is increasing and has been steadily since 2007. Here are a few statistics:

  • the average guest list consists of approximately 140 people
  • the expected cost of a wedding in 2010 is $19,274.00 ~ up from $17,300.00 in 2008 and $19,038.00 in 2009
  • 46% of couples foot the bill with their savings
  • 32% of couples rely on family contributions
  • 16% of couples take out a loan (ouch!!)
Here is an average budget breakdown:
  • Reception Venue        $7,282.00 (incl dinner, favours, decor etc)
  • Bridal Gown               $1,083.00
  • Wedding Rings           $1,557.00 (not including engagement ring)
  • Photographer              $1,682.00
  • Wedding Cake            $ 335.00
  • Florist / Decor             $ 881.00
  • Transportation / Limo  $ 569.00
  • DJ / Musicians             $ 805.00
  • Honeymoon                 $3,632.00
The above breakdown totals $17,826.00 but does not include items such as bridal/groom party gifts, rehearsal dinner, wedding planner or minister.

While planning a wedding can be exciting and loads of fun but there are a few cons to this delightful process. Unfortunately, 32% of couples find wedding planning more stressful than enjoyable and 36% anticipate having disagreements with their in-laws. If you feel you may fall into either of these percentages, a few things you might consider is to 1) find a great wedding planner; this will lessen the stress somewhat and 2) have a pre-wedding planning discussion with both sides of the family and express with compassion your desires for your special day to ensure that all family members are on the same track with what you want.

Now, in my opinion, $20,000.00 is a hefty sum to pay, and while I truly believe that every couple deserves the most spectacular wedding as it is a celebration of love and union; the one and only day that focuses solely on you; there are options to help in reducing the cost. Here are a few ideas that may aid in that aspect:
  • use your resources; probably the biggest help you would receive in reducing your costs
  • if you know someone who is an excellent baker, ask them to provide your cake as their gift to you
  • for transportation/limo, if you know someone who has a classic car that they may be willing to drive for you
  • if you wear a 6, 8 or 10, check out sample sales, which generally happen once a year; it is a great opportunity to get a designer dress at rock bottom prices
  • if you are planning to get married in a church, consider timing your wedding around a major holiday, the church will already be beautifully decorated thereby saving you money on decor but if planning your wedding near a major holiday is unappealing to you look for simplicity ~ a candlelit ceremony cna be gorgeous, romantic and inexpensive
  • throw a "pitch-in" party where you ask your friends to be a special part of your wedding by helping you assemble invitations, favours, centrepieces and other homemade inexpensive touches; be sure to put out a few delicious munchies, turn on the stereo for inspiring tunes so that it feels more like a party instead of just an assembly line.
  • last but not least, use the internet; the online world is a wealth of information and goodies that will help you save on your special day
The budget ins and outs of wedding planning can be a stressful time but the key to remember is to not get carried away and plan outside the budget but to enjoy all aspects of the planning leading up to your wonderful day as those will be what you most remember ;D

Okay, time to get out of the nitty gritty. Tomorrow and Friday I will be finishing up our Wedding Series with some very creative and talented Etsy sellers. I'll let you know where to get the best of the best from Etsy for your spectacular day.  Thanks for blogging in and I hope you all have a wonderful Wednesday!!

Cheers and Blessings,


Tess said...

yay I can comment! Your posts have been very helpful with wedding planning!

Marie said...

Thanks so much Tess, I'm so happy they have been helpful!! and I'm so happy you can comment now!! I feel like such a dolt because they were disabled until now!! Cheers,