Wedding Planning in the Time of Inflation: 18 Practical Wedding Planning Tips for Couples
Firstly, I want to make a huge disclaimer. I am not a financial advisor, in fact, I'm not that great at my own bookkeeping. If I’m truly honest, I am feeling the cost of living increase in some areas of my life, but I still feel fortunate in my circumstances. However, I know it’s impacting everyone at different levels, and it's important to remember that everyone’s situation is unique and only you know what your budget is. So, I thought I would share some Wedding planning tips to help you plan:
Set a realistic budget - and get quotes before booking vendors. This will allow you to see how the total cost looks in your budget. Make sure to set the budget based on your current financial situation and keep in mind that there could be potential additional costs of living that may impact you. Remember, everyone is in a different financial situation, and both of you know what your realistic budget looks like. Sit down and have a date night over your favourite drink to work this through together. Your venue will determine the majority of your wedding budget, so start looking at venues to see what their cost is - ceremony cost, reception cost, per head cost, minimum spend, etc. Please get quotes to see what this looks like and don’t get advice from friends and family that may have gotten married a few years ago as the landscape for weddings and costs has completely changed.
Work out who is paying for what - this includes your wedding party. Be clear about what you want your wedding party to financially invest in for your wedding day. Also, work out the size of your wedding party to help work out costs.
Give yourself plenty of time - to research costs and schedule a focus per month for deposit payments. Usually, most vendors require an upfront payment to book your wedding date. Ask about deposit amounts when getting quotes so you can work this through and look at the impact of these deposits per month. Keep in mind, most venues increase their pricing a % each year so make sure you have the correct cost in your budget for this.
Prioritise the important elements to you both - even without a cost of living increase. I recommend to all couples to really think about the 3 main areas that they want to spend on their budget and focus on these areas than for the rest look at cost-effective ways. Then, on other details, be open to compromise.
Read your contracts before booking in - make sure you’re aware of the minimums of the investment that you’re making, cancellation costs, etc. The majority of deposits or instalment payments are non-refundable with most vendors. You might just pay a $ deposit to book the date but what is the minimum amount of spend? This is also the case with furniture deliveries there is usually a minimum spend amount needed for delivery to take place.
Start a wedding fund account - put money away for the wedding rather than adding more debt. Make instalment payments from this to your suppliers when they are needed only. Then everything else goes away in this fund, and make final payments closer to the wedding day. For our wedding, I broke down the total cost of the wedding divided by the months to go to our wedding and popped this away with a buffer.
Guest list - Go through your list and work out your must-have guests to see what your numbers are looking like to help you search for a venue that meets your needs. Remember, some venues have a minimum spend or numbers so make sure that you keep this in mind before booking in. More tips here
Be open to more dates and days - if you have your heart set on a venue, is there another time of year or day of the week that is more affordable eg winter dates, although post-covid there may not be as many options.
Sales - Look out for sales for your wedding day outfits - eg EOFY sales.
Do you really need this? Ask yourself if it’s essential to your wedding day
Buffer - It's essential to have a % buffer on your wedding budget as costs could increase, and if costs from suppliers were to increase, then you have this covered. For DIY wedding venues, I recommend having a bigger % buffer as there are different factors here to cover and execute.
Get accurate quotes - supply your vendors with as much information, especially anything that needs to be delivered logistically.
Ask the question - If you really want to work with a vendor but the package is not in your budget, ask this question: "my current budget is $XX what can you recommend for this or is this workable?". For example, a florist might be able to suggest different florals, sizing or repurposing items.
Your guest’s costs - if you’re having onsite accommodation that is included in your package and you have to pay for it, and you are thinking of passing this cost onto guests, will they be able to afford it? Will they want to stay? Ask a few guests before committing to this. This could also include transportation needed for your wedding too. Ask the question as you may be able to book a smaller bus.
Location - Outside of Melbourne means there may be additional travel fees associated with your wedding from your wedding vendors, so keep this in mind and get quotes that include travel.
Share costs - if you have any friends getting married soon that you could potentially share costs with - think table numbers, linen costs, etc.
Facebook marketplace -Check Facebook marketplace as some couples sell items they’ve purchased after their wedding on here and are hardly used.
Hire a Wedding Planner -who can help you stay within your budget while still creating a beautiful and memorable celebration. They have experience and contacts to help you save money where possible.
Overall, planning a wedding can be stressful, especially with the added pressure of a cost of living increase. Remember to be clear about who is paying for what set a realistic budget, give yourself plenty of time, prioritize the important elements, and ask questions. If needed, consider hiring a wedding planner to help you navigate the process and save money where possible. Happy planning!
Myth Busting on Costs
Let's discuss some cost myths that I often see posted on wedding Facebook groups -
Artificial florals
Many believe that artificial florals are cheaper than real ones, but this is not always true. High-quality artificial florals can be just as expensive as real florals.
Cake
It is also a misconception that a fake tiered cake is cheaper than a real one. Cake cost depends on several factors such as serving size, number of tiers, and finish detail on the outside. Thus, a fake cake with intricate details can cost just as much due to the time it takes to decorate.
DIY venues
Contrary to popular belief, DIY does not always mean a more affordable wedding. When it comes to venues and DIY elements, opting for a DIY venue may seem like a cheaper option. However, keep in mind that a DIY venue is essentially a blank canvas that still needs structure and planning. I recommend selecting smaller elements to DIY, but also consider who will execute them, as the cost savings may turn into added stress.
Hope this blog was really helpful for you!
All the best with your planning
Em x