Wedding ahead: How you can save thousands even while splurging
When you think of life’s big expenses, what comes to mind? College, for one. A home, a car, certainly retirement. And if you are planning to get married, or have children who are, a wedding ranks high on that list as well. And it should be — according to The Knot’s Real Wedding Survey, the average wedding in 2008 cost $29,334.
That’s right, almost $30,000! That’s more than a down payment on many houses, more than four years of college tuition at a public institution, even more than a perfectly reliable — or heck, even a flashy — car. But a wedding certainly doesn’t have to cost that much.
I’ve been to lovely weddings that probably had a budget of $10,000, and equally lovely weddings that likely topped $50,000.
What did they have in common? Heart. Soul. Creativity.
When it comes to planning a wedding on a budget, the key is knowing where to skimp and where to splurge. It’s a hard line to toe, but here are some tips to get you started:
Go off-season. It may seem strange to devote a column to wedding planning right now since in my corner of the country, it’s officially cold, and that means wedding season is mostly over. But that’s precisely my point: Vendors in the Midwest and Northeast will almost always cut you a deal in January and February because they don’t receive as much business during those months. “Vendors and venues don’t expect to be busy at that time, so you’re a pleasant surprise to their budgets. If you’re willing to put up with the weather, they’re willing to lower prices a bit,” says Mindy Weiss, an event planner and author of “The Wedding Book: The Big Book For Your Big Day.” The weather is, of course, the catch. If you’ve always envisioned a garden party in May or September, perhaps start imagining a lovely reception indoors in a hall or airy loft.
Limit the bar. No, it won’t make you look tacky. One classy way to do it: Offer only wine, champagne and beer during the cocktail hour, then open the full bar during the reception. “The cocktail hour is when they drink the most, so you won’t believe how much you can save in that one hour,” says Weiss. Another option, says Sharon Stimpfle, deputy site director at weddingchannel.com, is to offer wine, beer and a few signature cocktails instead of a full bar. You can have your bartender or caterer develop drinks that use only one or two kinds of liquor. Finally, you also don’t have to toast with champagne — people can raise their glass and toast with whatever they’re already drinking just as easily. They won’t notice, and you’ll save a couple hundred dollars at least.
Cut (back on) the cake. Cake is a key ingredient, of course, but you absolutely don’t need a full serving for every guest, despite what your baker might tell you. Wedding cakes are almost always priced per serving, and a serving can run $10 or more. That means for a guest list of 150, you could be looking at $1,500. Instead, says Stimpfle, serve guests half servings. “Only half of the cake is usually eaten anyway — guests are on the dance floor, having fun and they forget about it.” Trust me, when you see tables littered with plates of cake at the end of the night, you’ll have wished you scrimped on the scrumptious.
Get crafty. You want to create a certain atmosphere for your guests, and that means decorations. But it doesn’t mean you have to shell out a load of cash. The Web is a fantastic resource for DIY-wedding projects, everything from Martha Stewart-inspired paper decorations to hanging lanterns made out of mason jars and a little wire. Convinced you’d only make a mess of things? Try a Web site like Etsy.com, which hosts vendors selling everything from unique wedding invitations to decorations to veils. Often, prices are cheaper there than you’d find elsewhere, and you’re also helping to support small-scale artists.
Consider a full-service venue. A lot of people make the mistake of looking at only a couple venues, balking at the high rental prices, and then thinking they can save money by hosting the wedding in their backyard. But it often ends up being more expensive. Think about it: At a full-service venue like a hotel, the contract price includes everything, from the caterer to the cake to the bar to the rentals. Not only do you know up front how much you’re going to pay, but you also won’t have the logistical nightmare of renting the supplies on your own. Trust me, figuring out how many glasses, or forks, or napkins to rent for a party of this size should be left to the professionals. It’s a huge load off your shoulders at a time when you don’t need any additional stress.
Splurge on the memories. It’s only one day, and it goes fast. So a good photographer is really important. If you can swing it, hire one with an assistant so you have two sets of eyes instead of one. Consider a videographer as well, says Weiss, although a pro isn’t necessary. “It doesn’t have to be an expensive one, but not having your day documented in that medium is a big mistake. When you see things you didn’t know were going on, or toasts you thought you were hearing but in fact didn’t, you’ll be happy you have the video to look back on.” And, as it’s all about making the memories, consider paying top dollar for a good band or DJ.
With reporting by Arielle McGowen
Jean Chatzky is the financial editor for NBC’s “Today,” a contributing editor for More magazine, and a contributor to “The Oprah Winfrey Show.” She is the author of six books, including the book The Difference: How Anyone Can Prosper in Even the Toughest Times (Crown, March 10, 2009). To find out more and to read her blog, visit her Web site,www.jeanchatzky.com
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