Many couples get caught up in the wedding planning process without first establishing their financial comfort zone. We all want that fabulous wedding, but you shouldn't have to"break the bank" to get there. We've come up with these 5 Tips on How to Establish Your Financial Comfort Zone for Your Wedding.
1. Determine Who’s Going to Contribute
Our first tip on How to Establish Your Financial Comfort Zone for Your Wedding is to figure out who will be willing to help you pay for your wedding costs or will you and your fiance' be footing the entire bill. This is the time to speak with your parents or any family members that would be willing to help out. Everyone gets a little uneasy discussing money. However, now is the time for you and your fiance' to speak up to determine how much of the cost you will have to endure. Some family members may be eager to help, while others may not be able to afford to do so. Either way, there is only one way to find out.
2. Do Your Homework
Now is the time to conduct some extensive research on how much it will cost to have a wedding. My advice would be to hire a wedding planner also. Some may offer free consultations and can help you identify many of the costs associated with weddings, as well as any hidden costs that many couples aren't aware of.
3. Crunch Time
Another tip on How to Establish Your Financial Comfort Zone for Your Wedding after determining who will be able to assist you is to do the math. In this case, you want to be honest about how much you both can afford without "breaking the bank." Also, determine how much you will be setting aside for your big day. Your wedding planner should be able to assist you with staying inside your financial comfort zone.
4. Wedding Must-Haves
Set your priorities. Deciding on your wedding must-haves may differ from couple to couple or even between the bride-to-be and the groom. Some couples may want to ensure their guests are having a great time and splurge on an open bar while others feel that they would rather splurge on wedding day decor’. Whatever your wedding must-haves are, it's all about How to Establish Your Financial Comfort Zone for Your Wedding and compromise.
5. The Guest List
We couldn’t provide tips on How to Establish Your Financial Comfort Zone for Your Wedding without mentioning the guest list. This is one of the key elements in determining the costs associated with your wedding. The guest list will determine the venue size as well as the amount of food and beverage. The venue takes up the majority of the costs associated with your wedding. With that being said, you are not obligated to invite everyone to your wedding and you and your fiance’ should discuss the guest list.
If you would like to learn more about tips on How to Establish Your Financial Comfort Zone for Your Wedding, contact us to speak to one of our wedding planners.