Wedding Budgeting 101

August 17, 2017

So you’re planning a wedding. First of all, congrats! Getting married is a huge milestone and you’ve got a whole lot to celebrate. But let’s get right to the tough stuffthe budget.  Not setting one from the get-go is how many couples get into troubleand when it comes to weddings, it’s easy to get carried away with extra expenses. From deciding on the guest list and venue, to balancing your vision with your budget there’s a lot to consider. Knowing where to splurge and where to save can be tricky, so we broke down the financial basics. These tips for planning your big day without breaking the bank are brought to you by our own financial experts and wedding planner, Katelyn Hipson, of Elegant Productions.

·         Once you’ve set your budget (and the absolute max you’re willing to spend), track all of your expenses in one place so you always know exactly how much you’ve spent, and how much remains. Make sure you do your homework from the outset so you understand all of your individual costs.

 

·         While you’re setting that budget, make sure you’re clearly communicating with all of your financial contributorsyou’ll want to ensure you’re all on the same page early on.

 

·         Decide on your priorities and stick to them. For instance, do you want live music? Or would you rather save with a curated playlist? Do you need the designer dress? Or could you find something similar online?

 

·         Consider DIY options. From preparing your own bouquets, to making your own table arrangements, you’d be amazed by what you can do on your own with a little help from the internet. 

 

·         Get quotes from multiple vendors to ensure you get the best fit for you and your budget. And once you’ve chosen your vendors, aim to pay them in full in advance of the wedding.

 

·         Don’t count on wedding gifts to contribute to your budgetif you can't afford something, don’t buy it.

 

·         Veer away from anything too trendy. Remember your mom’s wedding photos from the 80s? Don’t splurge on anything that might cause you to look back and cringe.

 

  • Looking for some financial advice of your own?

    We can help.

    Fill in your contact details and one of our knowledgeable staff members will be in touch with you shortly to set up an appointment.

  • Hey neighbour! Tell us which credit union you’d like to visit.

    Enter your address or postal code above to find nearby branches.
  • You're in!

    Thanks for connecting with us. One of our knowledgeable staff members will be in touch shortly.