Stick to your budget. That is the key to planning a wedding that won’t completely wipe out your bank account. Create a realistic budget and then stick to it. If you do that then you’ll be able to start your married life without the stress of a wedding budget gone amuck. Right?
Sticking to your wedding budget would be enough – had you managed to uncover all of the hidden costs. A lot goes into planning a wedding and there are a number of hidden costs that people forget about when creating their budget. Don’t get cold feet about your budget – let us help you uncover the hidden costs of a wedding.
We’ll break down the costs for the different events in your wedding so you can plan and budget with confidence.
How to Plan a Wedding Budget
A well thought out wedding budget doesn’t just plan for the main event. There is a large piece of your budget that you’ll need to use before you say I do.
Bridesmaids Gifts: Being a bridesmaid now a days is not for the faint of heart. Bridesmaids spend a lot of time, and money, helping the bride get ready for the big day. If you want to give your girls a gift that says thank you for your support and friendship, be sure to set aside money in your budget for a bridesmaid gift.
Bachelor/Bachelorette Party: Figure out early on what kind of bachelor and bachelorette party you are interested in and plan your budget accordingly. Even a simple night out can cost more than you might originally expect so sticking to your budget is crucial. Don’t let one fun night out throw off your entire wedding budget.
Marriage License: Let’s make this thing legit! Weddings are a legally binding contract between two people so you need to have a marriage license to make it official. A marriage license can cost from around $20 to $100 depending on what state you live in. This forgotten budget item might not break the bank but it is important to keep in mind.
Postage: It is not uncommon to save space in your budget for wedding invitations but forget all about the postage. A stamp only costs 49 cents, so it’s not that big of a deal right? Wrong! Keep in mind that the weight of your invitations can impact the cost so you may need additional postage that can cost as much as $1 for each invitation. If you still don’t think that is much, multiply that number by the number of invitations you’re sending and suddenly postage will seem like a lot more important number to factor into your budget.
Clothing & Accessories Costs
When figuring out your clothing budget for your wedding, it’s true that the wedding dress and tuxes will be the big ticket items. But don’t forget these smaller, but vital, items when considering your clothing and accessories budget.
Alterations: It is incredibly rare for a bride to find the dress of her dreams that doesn’t require at least slight alterations. Whether this means taking it in, letting it out, hemming it, or including add-ons, alterations can add up fast. Factor in around $150 – $300 worth of alterations into your budget so you don’t end up with a surprise expense when picking the perfect dress.
Accessories: Don’t forget that there is more to the full wedding look than just a dress. A veil alone can cost a few hundred dollars depending on the length and style. Once you add that to your budget for shoes and jewelry the cost of accessories can get pretty pricey. Keep this in mind when planning out your clothing budget.
It’s not easy to keep the day of the wedding running smoothly which means that there are inevitably going to be some surprise expenses. Here are a few of the wedding day costs that often get overlooked.
Pre-wedding meals: Wedding days for the bridal party begin long before the wedding actually begins. Be sure to put enough money aside for the meals like breakfast and lunch.
Stationary: Most people remember to include their invitations into their wedding budget but forget about the stationary they’ll need for the wedding day. This includes the cost of wedding programs, place cards, or menu cards.
Guest Transportation: If your wedding venue and reception area don’t have parking lots directly next to each other –chances are you might need to provide transportation. Consider this when planning ahead. Also don’t forget that weddings usually involve guest drinking. Have a plan in place for what to do if people can’t drive home so you don’t find yourself paying for twenty Ubers the night of your wedding.
Unexpected Guests: Despite how simple it is to RSVP, you will inevitable have a few guests that couldn’t be bothered to tell you they were coming. Or there will be a few surprise plus one’s that you weren’t planning for. Instead of creating drama and stress on your wedding day, prepare for the possibility of more guests than you were expecting.
A lot goes into wedding receptions and they can often be the most expensive part of any wedding. Planning a wedding reception can quickly become overwhelming and it’s not hard to miss some easy to forget but important to remember items that you need to leave space for in the budget.
Lighting & Sound: For such crucial elements of any reception it’s shocking how often these two high cost items are left out of wedding budgets. This includes items like extension cables and microphones. Make sure you do your research ahead of time not only so you avoid budget surprises but so you don’t accidentally end up in the dark.
Gratuities: The day of your wedding you’re probably not going to be thinking about tipping vendors. There are venues and caters that do have gratuities built into their cost. But many do not so many of the people working in your wedding often get forgotten. Plan ahead so you don’t forget the tip for your bartenders, servers, officiants, and makeup artists.
Overtime: Photographers, DJ’s, and other vendors working on your wedding will have contracts with you that state how long they are charging for their services. If you run over that allotted time, there is often an overtime fee. That fee can be required to be paid on the spot. Don’t get caught in a spot of having to end the party while it’s still going by forgetting this potential scenario.
Post Wedding Costs
Just because the wedding is over doesn’t mean that you’re done spending money on the wedding. Be sure to have room left in your wedding budget for these post wedding items.
Thank you cards: Once again, do not underestimate the cost of this item, be sure to leave money set aside for thank you stationary. Don’t forget postage! It will probably cost you around the same amount as sending out the invitations.
Wedding gown care: Unlike other clothing items, wedding dresses can’t just be thrown in the washing machine. Wedding dresses need to be professionally cleaned and preserved. The pricing for this depends on variables like the type of dress, the train length, and the stain damage. Setting aside money for this means that your dress will stay pristine for years to come and be a possible option for future brides in your family.
Union Can Help U Save For Your Big Day
Saving for a wedding can feel like an overwhelming financial goal. Union Community Bank helps you prepare for the big day so you don’t have to stress out about your budget. Our savings accounts with competitive interest rates help you save money for the wedding of your dreams. We also offer competitive interest rates on loans to help with wedding expenses. Contact an expert at Union Community Bank to learn more about your options today.