MONEY MATTERS

Before you get caught up in the whirlwind of wedding planning, it’s essential to set a budget. Here are some top tips for planning a wedding that suits your vision as well as your bank balance

words Hannah May

iStock.com/THEPALMER

Whether you’re feeling the pinch, unsure exactly how to budget for everything, or keen to cut down on costs and waste while still achieving a beautiful and personal day, when it comes to wedding planning: money matters. According to the National Wedding Survey by Hitched.co.uk, the average cost of a UK wedding stood at £17,300 in 2021 and, with the projected rate of inflation, this cost is set to jump in 2023. While expenditure continues to increase year-on-year, the number of couples seeking to reduce their budget to below £10,000 has risen from 28% in 2020 to 35% in 2022. It amounts to one thing: less might indeed be the new more. From the rise in micro and minimalist weddings to zero-waste events, there’s a palpable industry shift toward something more pared-back and conscientious, with a renewed emphasis on budget.

How much?

First off, think about your exact figures. Financial projections can be notoriously tricky – especially during unprecedented times such as the current cost of living crisis – but be brutally honest with exactly how much you’ll have to spend – and stick with it. Be aware of the sources of your cash, be it a personal savings account or parental support, and establish exact amounts as soon as possible, as well as how your cash flow will work with regards to release of funds.

Certain costs will need to be paid upfront and in full, while others can be paid in instalments or via payment plans, so be prepared to discuss this with your suppliers. Also put a percentage aside for contingencies and unforeseen costs (10% is recommended), as most couples do tend to overspend, unwittingly or otherwise. This should also help you to avoid finding yourselves in debt or financial arrears or having to dip into your mortgage fund or the like.

What are your priorities?

Unless you have an unlimited budget, you’ll have to prioritise your main spends. What are you unwilling to compromise on? Where can you afford to spend less? “Is it a priority for you to have an awesome photographer or showstopping cake?” asks wedding planner Hazel Parsons from Out of the Ordinary Weddings (outoftheordinaryweddings.com). “Do some research and be realistic about the cost of this and work out your budget around what is important to you.”

If you’re aware of your non-negotiables from the outset, you’ll be more likely to design a day that’s reflective of your original ideas, unique to you – and on budget. Think about your guests’ experience of food, entertainment and styling, along with the ‘big’ decisions such as the venue. Can you book your dream venue for less by hosting an off-season or midweek wedding (or with fewer guests), or drop the final course from your preferred caterer in favour of a dessert table supplied by your guests instead of wedding gifts? By adopting a flexible, creative and all-hands-on-deck approach, you’re more likely to free up cash that can be pooled into the aspects you simply can’t do without.

Stay on track

Keep a meticulous tab of your incomings and outgoings in whatever form works best for you (there’s a variety of apps, while many couples still swear by spreadsheets). If you notice that your budget is being squeezed early on, then figure out where you’ve overspent, and how to mitigate it. For example, if you splurged on the dress, can you recoup the extra cost by shopping in the sales for your bridesmaids’ outfits?

You’ll be amazed by how quickly things may spiral, so don’t be afraid to press pause and regularly review (and replan) every element of your expenditure. Also, take note on when the balance for everything is due, and ensure you’ll have the funds available at the right time to pay each supplier.

Get family involved

Tap into the talents and help of those around you, which will ease the burden of responsibility, add an extra sense of personalisation and should free up some cash. “If you’re looking to have some DIY aspects to your wedding, find out if your friends and family would like to be involved, rather than putting all the pressure on yourself in the lead-up,” suggests Hazel.

illustrator who could assist with the signage or a friend happy to bake a batch of cupcakes for favours? Don’t be afraid to enlist the help of your nearest and dearest in any ways that you – and they – feel most comfortable, competent and confident with.

Do you really need it?

With many of today’s couples subscribing to a waste-less ethos during the planning phases, join the modern green movement by asking yourself how not to accumulate too much stuff. A classic example is being left with a stack of vases, crockery, bunting and even furniture that you were so eager to buy… but now have absolutely no use for.

There’s a simple solution to avoiding both the expense and material accumulation associated with weddings: “hire not buy!” asserts Hazel. “Rather than having to buy all the cutlery, glassware and décor you need, investigate hiring these,” she says. “This will allow you to afford better quality décor and takes away the hassle of having to source and store everything months ahead of your big day, as well as the pressure to sell it on afterwards.”

In short supply

Distinguish the difference between your needs and wants – and who can help you to achieve them. Even if you’re desperate to book your favourite band, you can always ask if they can perform as a solo or duo instead of a more expensive five-piece act. Think about how you can whittle down, reduce, simplify, swap and borrow in order to save cash and plan a wedding that gives you the very best value and outcome for your money. “Discuss with suppliers what will work within your budget,” advises Hazel. “For example, you can chat with florists about which types of flowers are in season and grown locally to keep costs down while also having a beautiful display! It may be more affordable to go for relaxed cut arrangements as opposed to floral designs.”

Once you’ve established your budget, made a list of your top priorities and figured out the best way for others to help, there’s a host of ideas on how to save money and spend it wisely. By utilising the people and places around you as well as discussing your requirements and budget with suppliers – who are highly experienced in such matters – you’re more likely to achieve a wedding that’s both beautifully ‘you’ and bang on budget.

iStock.com/fizkes

MONEY-SAVING HACKS

Timing is everything

Consider a wedding later in the day and save time and money by hosting a sunset ceremony ahead of a supper that leads straight into the evening party, for the ultimate of (purse-pleasing) whirlwind celebrations.

The complete package

Ask potential venues about out of season, midweek and promotional packages such as elopements or small weddings, as well as combined wedding and honeymoon deals, cancellations and any extras that might be available.

Stay put

By staging your ceremony, reception and evening do at the same venue, you won’t need to worry about transport, extra décor costs, additional venue or marquee hire fees – and can book shorter hire periods for performers, photographers and other suppliers.

Number crunching

Consider the size of your guest list. Cutting it down means having more people you actually want there, and you could then reinvest the money on enhancing their experience. Alternatively, make it a child-free event, selected or no plus-ones, or opt for an intimate wedding and host an after-party or beach barbecue at a later date.

No more dress stress

It is possible to find ‘the one’ without blowing your budget. Sample sales, designer days, off-the-peg, vintage and repurposing heirloom gowns are all ways to ensure a bespoke bridal look at a lower price. Visit boutiques and discuss it with them.

BYO and DIY

What can you bring to your day? Whether it’s drinks (remember you might have to pay corkage), desserts, DJ, hair and beauty skills... have a chat to friends who may be able to help. You could pick your own fruit to make jam for your cream tea, grow mini succulents to pot as décor or favours or recycle old tablecloths and craft your own bunting.

‘Tis the season

Certain elements such as the flowers and food tend to be cheaper if sourced seasonally and locally, so ask your suppliers if the time of year or day makes a difference to costing.

Professional planning

Enlist the services of a professional planner, stylist or coordinator, who will know the tricks of the trade and contacts to help you keep costs to a minimum.

Go digital

Online invitations, save the dates and even ceremonies live streamed to keep guest numbers down are all worth considering in order to stay within your budget.