Posted On: July 31, 2019 by Exchange Bank of Northeast Missouri in: Budgeting General Save Money Savings
Your wedding day is one of the happiest days of your life. You’re surrounded by family and friends and taking the next step in life with your spouse. And while your wedding is one of the happiest moments in your life, it is also among the most expensive. According to The Knot, the average cost of a wedding in 2018 was almost $34,000. Luckily for you, there are some strategies you can use to help trim costs and still have the wedding you’ve always dreamed of.
Dressing Your Wedding Party
Everyone knows it’s most important for the happy couple to look their best, but dressing bridesmaids and groomsmen doesn’t have to break the bank. There are several ways you can save money by taking a look at the wardrobe of the wedding party. If having a set dress code for your wedding party isn’t important, you can allow them to dress themselves within basic guidelines that you’ve defined. Or, you can choose to ditch the tuxedo rental in favor of going with a classic suit and tie, which not only saves on rental fees, but allows your groomsmen to potentially re-use their suit in the future.
Controlling Food Costs
The food and bar costs are among the largest contributors to expensive wedding receptions. So, how can you save some money while making sure your guests don’t go hungry? The first thing you need to do is figure out your reception venue’s rules for food and drink. If your venue allows you to bring in outside food and beverages, you can save thousands of dollars on a caterer by preparing the food yourself with some help from your family and friends.
Unfortunately, many reception venues won’t allow you to bring your own food. In that case, choosing a buffet option is usually cheaper than a plated dinner. With a buffet, your guests can choose from a variety of options while you save on costs related to table service and wait staff.
Be Creative When Setting a Date
Everyone knows June is the most popular month for weddings, and that weddings are generally more popular in the summer. If you don’t want to be a slave to trends, you can save yourself quite a bit of money. For example, choosing to have your wedding in the winter instead of the summer can have several benefits. First, there isn’t as much competition from other couples for the venue you want. Second, most venues are cheaper for weddings outside of the peak summer season, which can save you thousands.
If a summer wedding is important to you, you can still save some money. Most reception venues are cheaper to rent on Fridays and Sundays. If you’re willing to be flexible and not have a traditional Saturday wedding, you can save big.
Make Decisions that Work For You
Ultimately, your wedding day is about being surrounded by the people you love as you make a commitment to the person you want to spend the rest of your life with. But saving money is important. We hope these tips can help you find some savings and put you and your spouse in a stronger financial situation as you begin your life together. Open a savings account with Exchange Bank of Northeast Missouri today in order to save up for your big day!
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