- Weddings can be expensive, averaging around 19,000 pounds, but careful budgeting can control costs.
- Overspending can occur due to living beyond means, underestimating costs, and over-expanding the guest list.
- Venue, décor, and catering choices can inflate wedding expenses, as can the fear of missing out.
- Catering, personally creating decorations and favors, and focusing on essentials can help lower costs.
- Creative and organized planning can help achieve a memorable wedding day without exceeding the budget.
Planning a wedding can be one of the most exciting and, at the same time, daunting experiences of your life. Every detail needs to be perfect, from the choice of dress to the venue, the guest list, and catering. However, it is no secret that weddings can be expensive too, and it is easy to go over budget if you are not careful. Here’s what you need to know regarding the costs of weddings, reasons yours might be over budget, and ways to get back on track.
Average Cost of Weddings
It’s estimated that weddings cost about 19,000 pounds today. This includes everything from the flowers to the venue, catering, band/DJ, entertainment, wedding favors, and other elements that make a big difference to your special day. Of course, if you want to stick to a specific budget, there are ways you can minimize your costs without sacrificing quality or experience.
Reasons Your Wedding Might be Overbudget
There are a couple of reasons why your wedding might be over budget. Here are some of them:
1. Living Beyond Your Means
One of the biggest reasons your wedding might be over-budget is that you live beyond your means. It’s estimated that the typical household has a budget of 2,700 pounds a month, so if you’re living above that, it’s a good chance you’re living beyond your means.
It is essential to set a budget and work within your means. Determine what you can realistically afford, and make every effort to stay within that budget. If you start overspending before your wedding day, you might be forced to make some compromises that could leave you feeling unhappy on your special day. To avoid unnecessary stress and financial burden, make a budget and stick to it.
2. Underestimating Costs
Another reason why your wedding might be over-budget is underestimating costs. Often, couples forget to factor in additional costs such as gratuities, taxes, and vendor fees. To avoid such surprises, take your time when setting your budget and include all possible expenses. Once you have a budget, monitor it regularly to avoid overspending. Keep track of all expenses and ensure you stay within the allocated budget.
3. Guest List
Your guest list can significantly impact your budget. The more guests you have, the more costs you will incur. Food, drinks, and seating arrangements can quickly shoot up your expenditure. Therefore, create a rough estimate of the cost per guest and consider trimming your guest list if you are over budget. You can also consider alternatives such as a smaller or a destination wedding if that fits your budget better.
4. Venue, Décor, and Catering
The venue, décor, and catering are three of the most critical elements of your wedding that can quickly inflate your expenses. When choosing your venue, consider less expensive yet still beautiful locations that fit within your budget. When selecting decorations and flowers, be creative and flexible to avoid overspending. Be mindful of the menus for catering and ensure that the food choices are within your budget.
5. FOMO (Fear of Missing Out)
The fear of missing out can quickly become embedded when planning a wedding. It is tempting to want to impress your guests and add more extravagant aspects to a wedding, but be conscious of your budget. Remember, this is your day; it doesn’t have to be perfect to be memorable. Be content with what you have, and don’t let the pressure of societal expectations land you in debt.
How to Get Back on Track
You can get back on track regarding your wedding budget in various ways. Here are three ways:
Catering
One of the best ways to reduce your expenses on food is to try out catering. You can buy an affordable catering trailer for the utilization of your chefs or even guests. The best part about this is that you can use the same trailer for other events, drastically reducing your costs. Additionally, if you’ve always been planning to start a food business with your partner, you can use the trailer for your business.
DIY Decorations and Favors
Although you may have initially wanted to buy decorations, it is possible to do them yourself. It doesn’t take much money or time to create decorations that look great. Also, consider creating favors as gifts for your guests instead of buying them premade. This is a great way to add a personal touch and save money.
Focus on the Essentials
When trying to get back on track with your wedding budget, it’s important to focus on the essentials. When you have an idea of what is essential for your wedding, it becomes easier to eliminate any unnecessary items or services that might be driving up the costs. Look at each expense and determine if it’s essential to the wedding or can be eliminated from the budget.
Planning a wedding doesn’t have to break the bank. If you are over budget, there are several strategies you can use to get back on track. Set a realistic budget and stick to it, consider catering instead of restaurant meals, do decorations and favors yourself, and focus on the essential elements for your wedding. Creativity and organization allow you to create the perfect day without exceeding budget!
