4 Common Wedding Budget Mistakes You Should Avoid
It’s no secret that weddings can get expensive -- but they don’t have to be. Creating a thorough and well thought out budget is the key to creating a memorable big day without breaking the bank. But sometimes a budget just isn’t enough. Be sure to avoid these four common wedding budget mistakes:
The whole backbone of a budget is prioritizing what expenses matter the most and the least. Refusing to prioritize what aspects of the big day you’re willing to spend more on than others will leave you shopping without a plan or perspective. Instead of “winging it,” sit down with your partner and figure out what aspects of the big day are “must have’s” versus “nice-to-have’s.” This will help you both identify what pieces you should splurge on and what you should treat conservatively. After doing this, be sure to write out a detailed budget and track your expenses against this budget.
Not Cutting the Guest List
One of the biggest ways to find yourself in a financial pinch is by letting the guest list balloon out of control. The higher the head count, the more mouths to feed, the more liquor to purchase, and the more money you need to spend. While it’s tempting to invite everyone you know and their mother to celebrate, consider who you would be willing to pay for. If you’re counting your pennies, the smaller the guest list, the better.
Not Reading Contracts
Signing contracts without taking the time to look at the fine print is always a bad idea, but this is especially the case when it comes to sticking to your budget. Some vendors have requirements that might impact your budget, such as minimum charges, overtime fees, and requirements to feed staff. Be sure that you understand the full scope of expenses you’re committing to before signing on the dotted line and never be afraid to ask questions.
Being Too Rigid
Don’t sweat the little things if you want to stay on budget. It’s important to have the big day you’ve always dreamed of, but becoming too attached to nominal details can result in a budgeting disaster. Perhaps you’ve always imagined having dramatic table centerpieces brimming with exotic flowers, but when you sit down to price everything out, you find that this vision might end up putting you over your budget. Instead of refusing to deviate from your original vision, consider alternative options that are similar to what you originally envisioned.