Manage Your Life
Friday, December 4, 2009
Say "I do" to a recession-proof wedding
user
The recession has left a lot of victims in its wake - investment
banks, mortgage brokers, homeowners, weddings…wait,
what? That's right. The Association for Wedding
Professionals International calculates the average cost for a
wedding in the U.S. at between $21,000 and $24,000.
However, according to Tucson, Arizona-based consulting firm The
Wedding Report, Inc., couples planning their weddings are
significantly scaling back spending on their day of bliss by at
least 10% this year, on top of an already larger cutback in
2008.
If you're knee-deep in wedding planning and worried about your
wallet, get with your soon-to-be-better half and decide on your
wedding day priorities. Do you want to splurge on a band and
spend less on your wardrobes? Knowing what's important
will help make the wedding spending decisions easier. Next,
make a budget and consider a few cost-cutting ideas:
Check out
ways to land credit in a recession
- Go Off-Peak
The traditional "wedding
season" is May through October. So it stands to reason by
choosing a date between November and April you'll have a better
chance of saving money on a wide range of services - photographers,
hotel ballrooms, catering, etc.
- Be a "Budget Bride"
With wedding
dresses running on average $1,075 (Brides.com American Wedding Study
2009), look around for less expensive alternatives to the
high-price bridal boutiques. You may find a big bargain at a
bridal outlet store, sample sale, upscale consignment store or even
online through Craigslist.com, Encorebridal.com, or
PreOwnedWeddingDresses.com.
Other options include renting a bridal gown or looking for a dress
made out of less-expensive fabrics.
- Barter and Advertise
Do you have items or
skills you could offer one of your wedding vendors? In this
economy, business owners are more open than ever to
bartering for goods and services. Consider asking vendors if
they would be willing to knock some money off the price tag in
exchange for some tasteful advertising in your program or onsite at
the ceremony or reception.
- Markdown the Décor
Replace expensive floral
arrangements with much less expensive candles, photos, or similar
centerpieces for reception tables.
- Cut Back on Booze
Alcohol is one of the
priciest items for any wedding reception. Opt to serve beer
and wine (no hard liquor) instead.
If you're comfortable with the notion, consider a cash bar so
that guests are paying for their libations instead of sticking you
with the tab. Check with the reception site to see if you can
bring in your own alcoholic beverages - doing so can save you a
bundle.
- Watch the Clock
According to TheKnot.com wedding reception-related
charges count for an average 46% of a brides' total
budget. One way to lower those costs is to change the time of
your ceremony and reception to brunch or early afternoon so that
you can serve appetizers or a less expensive meal rather than a
full-course dinner. Wonder if your guests will be put off? Not
likely. According to the AP-Brides.com poll nearly 60% of
those polled would rather be served chicken breast than caviar and
a solid 20% prefer "pigs in a blanket."
- Let Them Eat (Cup)cake
According to the
National Association of Catering Executives (NACE), cupcakes are
one of the top wedding trends for this summer. Not only are
they typically less expensive than a full-size wedding cake but you
can get them made to order from grocery stores and warehouse clubs
(such as Sam's Club, BJs or Costco).
- "DIY"
Make your own invitations,
create your own bridesmaids' bouquets, do your own hair and
makeup, or ask a relative to play the piano or sing at your
service. Look for resources and relationships you already have to
trim expenses.
- Pass On the Wedding Favors
Your wedding was
gift enough for family and friends. Don’t spend more money on
candies or candles for them to take home.
Check out
ways to land credit in a recession
And if all else fails take the ultimate wedding
cost-cutting plunge and elope!
- By Katie Adams
More From Investopedia:
Have A Charming And Cheap Wedding
6 Major Credit Card Mistakes
6 Ways To Save Money This Summer
8 Ways To Dig Out Of Debt
Related: weddings, saving, money, diy, clothing, budgeting, budget
-
Posted by Gia Thu Jul 2, 2009 10:25am PDT
I got married about 8 years ago and here are my tips:
My dad did not want to pay for the wedding (long story), so we ended up paying for a lot of it ourselves. We had a Renaissance Themed Wedding.
1) You can buy pre made invitations at Staples (I think now Walmart has them too) where you can do the names on the computer and print them out. Great cost saver. (Maybe like $100.00 tops)
2) I had my dress made for me, but I bought the material. Total of my dress $300.00
3) Hand made my Chuppah, for those of you who do Jewish weddings, these can go for $5,000.00 or more, and I did a cross stitch design which was then sewn on to raw silk fabric (maybe like $25.00 or a little more) with ribbons for the poles area - we spent maybe $80.00 (rough estimate)
4) I knew musicians who would perform for me - total cost $300.00 (all in all) and the DJ was also a friend - free
5) We had our ceremony at the back of a Chicken Pot Pies place - cafeteria style and everyone got their own thing (including vegetarians) - this my dad paid for - roughly $1500.00
6) Local Florist cost me $200.00 for my boquets and my girls all together
7) Photographer cost us $400.00 and we chose to do a CD rather than a full album
8) Rabbi cost $50.00
9) Chuch cost $150.00
Total wedding expenses $4,000.00 (rough estimate)
Report Abuse
-
Posted by TiF Fri Jul 3, 2009 1:26am PDT
My wedding is in 10 days. I was laid off for the first 5 months of the year, so sticking to a budget was a must. We've done the whole thing for under $5k. That includes the engagement ring & bands all from Tiffany's! The ceremony & reception are at my church ($260). We're serving cake & sparkling cider. I got lucky with photography though, a professional friend of mine is doing the day for $200. Pianist $150. Gown & alterations $700. My fiance already owned a tux though. My cake for 50 guests $140. However a friend gifted me the flowers and the decorations
(maybe another $200-300). Then that evening we're going on a dinner cruise with our immediate family only ($700). We did our shopping online and at CostCo. You have to weigh your priorities, the most important thing to me was the pictures.
Report Abuse
-
Posted by TasselLady Fri Jul 3, 2009 3:36pm PDT
I would just like a simple ceremony without bridesmaids or any of the other expensive stuff. I would just wear a simple blouse and skirt which I can wear anytime or anywhere after the ceremony. I would have a reception either at the church, or rent an inexpensive hall and have the guests bring a covered dish to share, and I would supply meat and some drinks. I would try to have a cash bar or have the guests bring their own alcoholic drinks if they so chose to. I'm very practical so I would make everything cost effective. I feel anyone could have a decent wedding without the huge cost. I've watched people spend over 20,000 dollars for a wedding and they were divorced two years later. Save the money!!!! You never know what'll happen!!
Report Abuse
-
Posted by Some Bum Sat Jul 4, 2009 7:35pm PDT
Oh wow, I love posts like these because it makes me feel good about my wedding. My husband and I spent a total of 150 dollars on our wedding. We had it in August at twilight, in a park with our own food and had a "picnic" afterwards. The kids got to play at the park and stay occupied, nobody had to "doll up" they just came in shorts and tees (so did the bride and groom). We spent all of our monies on the honeymoon.
Report Abuse
-
Posted by C Mon Jul 6, 2009 5:34am PDT
The only thing I completely disagree with is the cash bar. I'm sorry, but its better to have no alcohol at all than to ask your invited guests to pay for their own drinks. Where else is such a thing acceptable? Sure, a BBQ is BYOB, but they aren't held to the prices of the park you're at for drinks (unlike a reception hall which will likely charge through the nose for cash bar).
Report Abuse