How to save money on a wedding?

Ever dreamed of a magical wedding day but worried about the sticker shock? With floral arrangements and photography skyrocketing in price, it's no wonder many couples consider eloping to escape the financial burden.

These wedding saving tips offer a solution: a strategic approach to achieve your dream wedding without breaking the bank. 

How to save money on a wedding?

Venue savings

Venues often represent a significant portion of wedding expenses. By either minimizing or eliminating venue-related costs, you can dramatically reshape your budget. If you have a spacious house with a large yard, consider holding a wedding right in your beloved home.

Additionally, opt for non-traditional locations such as local breweries or charming bed and breakfasts, which may offer more affordable packages compared to dedicated wedding venues. 

Besides, evaluate inclusive venue packages (about $10,000) that cover essentials like tables, chairs, and audio equipment, as they may prove more economical in the long run.

Rent your gowns or buy used

Many wedding dresses are only worn once before being stored or sold. For some, this may be a compelling reason to rent a dress or buy second-hand. Not only is this an eco-friendly choice, but it's also a budget-friendly choice. You'll have a many options of dresses to choose from, not just recently designed dresses, and your guests probably won't know your like-new dress isn't actually brand new.

Additionally, you can discover budget-friendly wedding essentials on AliExpress! From stunning dresses to unique decor, explore coupons.vicensavings for unbeatable deals.

Pick non-traditional rings

Diamonds and gold might be the traditional choices, but don't let them limit your idea! Today's couples have a treasure trove of options to express their unique love story.

For affordability and brilliance, consider moissanite, a gemstone that rivals diamonds with its fire and brilliance. Lab-grown diamonds offer the same sparkle as mined diamonds with a smaller environmental footprint and often a more attractive price tag. Embrace the beauty of nature with colored gemstones like sapphires, emeralds, or even those with unique inclusions that add character.

If you are looking for a truly modern twist? Opt for sleek and durable bands made from stainless steel, titanium, or even silicone. Not only are these options budget-friendly, but they come in a variety of styles.

Seasonal selections

To save money on your wedding, careful selection of seasonal flowers and cuisine can yield significant savings. You should choose flowers that bloom in season and locally sourced products to reduce flower and food costs, because out-of-season items often have higher prices.

A study conducted by wedding planning website Zola found that by 2023, the average couple will pay between $2,500 and $6,000 for wedding flowers. If you want to spend less than this amount, choose your flowers wisely. Asking for tulips in October will likely increase your flower budget, while orchids may be cheaper and just as beautiful that time of year. Likewise, fruits or vegetables may cost more when they are out of season. Ask your food supplier to use seasonal produce to try to cut costs.

Strategic timing

Another way to save money on your wedding is to consider your wedding date. If you get married on a weekend (a popular day for weddings), you may have to pay more on a Wednesday. 

Saturdays and Sundays often have the highest venue prices because there is more demand, while weekdays can have lower costs—and are easier to book. (But consider it because both you and your guests can busy)

Getting married earlier in the day can also help you save. For example, a brunch wedding will likely cost less than an evening wedding due to catering requirements. Compare costs for different times of day and different fare types to get the most for your money.

Last but not least, let's consider having an “off-season” wedding. Wedding season peaks from May to October, making the winter and early spring months ideal for searching for discounted vendors and venues.

Innovative dessert options

Instead of traditional wedding cakes, explore alternatives like personalized cookies or tiered cupcake displays, which can delight guests while remaining budget-friendly.

Reduce photography services

Many couples want to spend thousands of dollars on wedding photos because they want to preserve the most memorable moments of their lives. One way to reduce these costs is to require photographers to work shorter hours. This may mean there are fewer photos to choose from, but a good photographer will take many great photos in a short amount of time. Have your professional photographer capture important moments. Besides, you can add authentic photos taken by friends and family members to reduce costs without losing memorable moments.

Average wedding costs

The average cost of a wedding in 2023 was $29,000 according to Zola's First Look Report, but this number can vary greatly. Let's break down the key factors that influence your final bill:

• Location cost: Big city weddings tend to be pricier than those in rural areas. Zola's data shows Washington D.C. topping the charts at over $45,000, while Alaska offers the most budget-friendly option at around $12,000.

• Venue matters: This is typically your biggest expense, averaging between $6,500 and $12,000.

• Feeding the guests: Catering costs depend on your guest list size. Expect to spend up to $10,000 and remember, the cake adds another $600-$900 on average.

• Extra touches: Wedding planners and bands can each add a few thousand dollars to your total.

Remember, these are averages! By read more wedding savings plan below, you can significantly reduce your wedding expenses and celebrate your special day without breaking the bank.

Building your wedding fund

Mitigating wedding-related debt necessitates not only cost-cutting measures but also prudent financial planning. Establishing a dedicated wedding fund through high-yield savings accounts, money market accounts, or certificates of deposit can provide a secure financial foundation for your special day.

By implementing these strategies and fostering a proactive approach to financial management, couples can celebrate their union without succumbing to excessive financial strain.

Establishing your wedding fund

1. High-Yield Savings Accounts

Opt for high-yield wedding savings accounts that offer competitive interest rates and features like auto-save and round-up saving options to bolster your wedding fund.

Online banks often provide the best rates, enabling you to maximize interest earnings on your savings.

2. Money Market Accounts

Consider utilizing money market accounts for immediate access to funds while still earning interest.

These accounts blend the benefits of savings and checking accounts, offering higher interest rates compared to traditional savings accounts.

3. Certificates of Deposit (CDs)

For substantial contributions not immediately needed, CDs offer attractive interest rates with fixed terms.

While CDs typically restrict withdrawals before the term concludes, they serve as a secure option for long-term savings goals.

So, take a deep breath and calm those pre-wedding jitters! By implementing these money-saving tactics and adopting a proactive financial approach, you can plan your dream wedding and embark on your happily ever after, debt-free.