Getting hitched is the most important and memorable day for a person. However, the costs can vary depending on the requirements. A source confirms an average wedding in the UK costs £20,000.
Unfortunately, sum a lump sum expenditure can diminish joined savings, lead to a change in honeymoon plans and monetary stress. Additionally, sticking to the budget can also become challenging.
However, a few simplified steps can diminish the drawbacks and help to celebrate the occasion within the budget. Some of these include deciding the budget with your partner, finding contributors, conducting research, build a rough guest list, etc.
6 Steps for Having a Budget Wedding
● Create a Budget
The first step requires creating a budget with your partner. Therefore, this should involve an honest discussion about savings, monthly salary, household expenses, etc. After this, it is crucial to decide the money required for a dream wedding of both partners.
Therefore, budget creation should involve spending on the particular day after reducing the overall costs. Additionally, it is essential to avoid hampering ongoing investments and savings, like a house deposit during this stage.
The budget decisions should also include essentials for the event. Therefore, both partners should find options for the venue, decorations, caterers, etc. Have a detailed discussion before, even if money is not an issue.
● Find Contributors
Planning a wedding alone can become a challenging task. Therefore, you should not hesitate to take the help of friends and family members. At times, in-laws and parents provide financial assistance to accomplish tasks like flower or dress costs.
Similarly, a friend with a keen interest or profession in photography can eliminate outsourcing. Moreover, the person would become thrilled with the honour. Likewise, the same process can apply to friends in catering, decorations, flower, or other businesses.
Such friends, relatives, and family members can even offer discounted prices to you. However, they would require personal appreciation and mention during the toast. Also, thank and mention people for their financial generosity.
● Draft an Essential Guest List
Smaller venues often have tendencies to accommodate 20-50 people. However, standard places cater to at least 50-10 guests. Therefore, after deciding the budget and finding the contributors, it is necessary to draft a rough guest list.
According to a source, it can cost more than £90 per person with an all-inclusive wedding package and a guest list of 80 people. Therefore, the average cost of accommodating guests would become £7,200.
Besides this, gatherings of more than 150 people would require larger venues. Also, account for service providers such as photographers, waiters, DJ, etc., invited to the wedding. They would make a significant difference in the food costs.
● Manage Expenses
Wedding partners would entail high costs for the venue, engagement rings, drinks, food, dress, outfit, photography, entertainment, video, etc. For example, a source reveals that the average cost of food is £3,887.
Similarly, the minimum venue, honeymoon, drinks, and entertainment would incur £5,406, £4,645, £1,587, and £1,005. If these costs burden the budget, it is essential to opt for easy loans UK.
It would provide immediate relief on the pre, post, and wedding day finances. Additionally, it would help to accommodate a few initial cutbacks. Therefore, it would help to achieve a better dream wedding.
Also, keep a check of budget, savings, and expenses through accounting practices. Make sure to include ongoing monthly costs, loans, etc. You can even diminish costs by asking for a loan holiday from the lender.
● Develop a Contingency Fund
While planning a wedding, it is essential to create at least 10-15 per cent contingency funds for unexpected expenses. Therefore, a £30,000 budget would diminish to £25,500 and £27,000 through this process.
Moreover, saving such an amount would diminish the budget costs and provide a scope of managing unprecedented charges. A source reveals that having at least £500 as spare can provide significant assurances for achieving different wedding purposes.
Besides this, if the savings remain unutilized, they can increase monthly with the ongoing interest rates. Optionally, they can provide additional funds to change wedding destinations, extend the honeymoon, or make future investments.
● Do a Thorough Research
Finding contributors would significantly increase the budget for other expenses; however, it would not eliminate certain costs. Therefore, it is crucial to decide the most desirable places and even take referral help for achieving reduced prices.
Besides this, conduct online research to find discounts, offers, quotations, etc., for different caterers, venues, florists, etc. Also, consider performing the wedding in a family home as it can significantly reduce the expenses.
While researching, try to haggle or negotiate for prices. Also, opt for other day bookings if it reduces the wedding expenses. If an option for lower prices doesn’t become an option, inquire for extras.
Additionally, make reservations during the offseason to ensure lower costs and high attendance of guests. Ceremony costs also differ during the morning and late afternoons. Similarly, prices of entertainment and venue booking lower during the winter season.
Likewise, avoiding Saturday’s and booking the place on a Friday or Sunday can make a significant price difference. Alternatively, find creative solutions for reducing expenses, such as borrowing the wedding dress from a friend or a family member.