Wedding
budget hacks
By Melissa Erickson
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wedding is usually the biggest and
costliest party of a couple’s life.
Plan accordingly and set a solid
budget.
“Setting a wedding budget is quite a
challenge. While there are a lot of costs
you can predict, like how much the venue
will cost, there are other factors not so
easy to predict, like how many guests
will show up,” said certified financial
planner Shannah Compton Game, host of
Millennial Money Podcast. “Most wedding
budgets turn out to be a loose guideline of
how much the wedding will cost, which is
why I always suggest adding a 20% to 30%
pad in your budget.”
No matter how well-planned and well-
intentioned a budget is, things change, so
it’s important to stay on top of expenses,
Game said.
“Set a goal number that you don’t want
to cross. If you are inching close to that
number there are always ways to be
resourceful and save money,” she said.
A
Finding funds
While parents are often the No. 1 source
of financing, couples also dip into per-
sonal savings, use credit cards and even
turn to crowdfunding, Game said.
“Credit cards offer so many amazing
perks these days that it’s hard to pass up.
If you plan on using a credit card to bank
points for your wedding expenses, always
make sure you can pay off the balance in
full within 30 days so you never incur in-
terest expenses,” she said. Plan wisely, and
you might be able to bank enough points
to use for your honeymoon costs or a one-
year anniversary celebration, she said.
Break it down
Start with a spreadsheet and break it
down into three sections: expenses prior
2 • Vermont Wedding Guide 2020
to the wedding, day-of expenses and after-
the-wedding expenses, Game said.
When budgeting be sure to add in hon-
eymoon costs.
“Most people do neglect including
the honeymoon on their budget,
which can be a sizeable expense,”
she said. “If you are paying out of
pocket for the trip, you want to make
sure and include not only your airfare
but the hotel, food, activities and any
transportation on your budget.”
Where to cut
If costs are adding up, cuts need to
be made.
“The most expensive costs for any wed-
ding are the location, food, flowers and
photography. Anytime a vendor hears the
word ‘wedding’ they immediately add a
surcharge to the price,” Game said.
There are hacks to cut costs.
“My suggestion is to pick one or two that
really matter to you and then find ways to
be resourceful in the other areas. For in-
stance, you could go to a flower mart and
get your flowers on the day of the wed-
ding for a fraction of the price, or have
guests use a wedding photography mobile
app to snap pictures and then utilize
your photographer for a half-day or select
pictures,” Game said. “You could also turn
to Airbnb or other vacation rental sites
to book an alternative wedding venue or
reception location.”
Take the long view
“I definitely discourage couples from go-
ing into debt for their wedding. It simply
isn’t worth it at the end of the day,”
Game said. “Figure out how much money
you can realistically spend and create
an amazing wedding within that dollar
amount. ... Be realistic and remember
marriage is about the lifelong commit-
ment and not just the wedding day.”