10 Ways to Say "I Do" for Less
Wedding consultant Deborah McCoy has lost track of the number of times brides have told her, "I hope we make a lot of money at this wedding, or we're in trouble." That's hardly surprising. Consider this: the average wedding can cost around $30,000.
It doesn't have to be that way. With careful planning, a couple can have an elegant wedding without exhausting their own or their parents' savings or starting their married life deep in debt. McCoy, who has authored several books on weddings, including The Elegant Wedding and the Budget-Savvy Bride, joins other experts in offering these suggestions to help ensure that a marriage doesn't start out in the red:
Set your priorities. Discuss what's most important for the wedding. "Sit down with the parents and find out who's contributing what to the wedding," she says. "Figure out the cost of what you want, then start saving." The average engagement today lasts about 16 months. You can use that time to save for wedding expenses.
Open a special account. "Weddings are times when people can overspend. It's just the nature of the beast," McCoy says. But a dedicated wedding fund can serve as a check. "If you're going to overspend on one item, you cut back on another item so you always keep the bottom line in balance."
Trim the guest list. A wedding is one gathering where size matters. Multiply the number of guests by your incremental costs for each — such as for food and beverages, invitations and the size of the reception hall needed — and you can calculate the savings to be had simply by inviting fewer guests.
Design your own invitations. As long as you print them on quality paper, your computer-generated invitations can look great. Don't have a good printer? A copy or print shop can turn out your design on gorgeous card stock.
Dress for less. Consider wearing a "vintage" gown from a resale shop or your mother's or grandmother's closet. Or ask a bridal store if it sells discount-priced sample gowns; often these samples are provided by top-name dress manufacturers.
Craft your own veil. Look on the Internet for instructions on turning a few dollars worth of tulle into a fashion-forward veil.
Make smart food choices. Some caterers will cut you a sweet deal if you purchase a package that includes everything from the appetizer to the cake and the champagne toast. Or opt for a buffet, a dessert reception or a brunch instead of a multicourse meal.
Look at low-cost locations. Parks and even backyards can provide beautiful settings at little or no cost.
Consider a destination wedding. One of the fastest-growing wedding trends is the destination wedding. A shorter guest list can more than make up for the travel costs. Many destinations — such as Caribbean resorts — offer reasonably priced wedding packages.
Register your wedding expenses. Don't need another toaster or place setting? In a new twist, couples are registering their wedding or honeymoon costs, so guests can contribute toward them in lieu of buying a traditional present.
Take the next step...
Make plans for two. Before you forget, update your beneficiary information on all investment accounts, insurance policies and other financial assets.
