Budgeting For Your Wedding

 
couple with wedding ring
 

Budgeting For Your Wedding

Getting engaged is a huge step for you and your partner, congratulations! With this new and

exciting endeavor approaching, it's time to start discussing where you two are headed in life and

how your finances will be affected. This means opening up communication with your partner to

determine what both of you want out of your big day and ultimately out of life.

Most of the time, a wedding and honeymoon require a significant investment. The average U.S.

wedding, for instance, costs about $35,000. The first step you need to take is to determine how

you plan to spend that money: June at the Plaza or a boho chic, barnyard reception? DJ or

string quartet? Beer and wine only or an open bar? The possibilities are endless when it comes

to the details.

If you and your partner start to butt heads over how money is spent, that’s the time to sit down

and talk. Ideally, you would have discussed your priorities before the planning started. If not, it’s

important to realize that communication at this point, and in all points of marriage, is vital.

Communicate about money issues, don’t fight about them.

Keys to Working out Rough Patches

  • Use a positive opening and respect your partner. This is no place for accusations.

  • If tempers flare, cut the tension and repair the situation.

  • Accept influence and value the other person’s opinions.

  • Compromise to build a stronger relationship.

Once you and your partner have discussed finances, here are five ways you can cut wedding

costs:

1. Picking your date - Saturday is the most popular day to have your wedding, which

means it is also more expensive than any other day of the week. To cut costs, consider

picking another day of the week. Your special day can be a Friday evening, the day

before a holiday, or on the Sunday of a long weekend. Your guests will still have time to

enjoy themselves, and you’ll save as much as 15 percent on the cost of your venue.

2. Keeping your options open - When picking a venue, look for a place (or negotiate with

your selected venue) that allows outside vendors to handle food, music, and

photography. Places that host weddings often may have existing relationships with

businesses who can charge more because they’re not competing with anyone else. By

keeping your options open, you can shop around for the best prices for everything you’ll

need!

3. Dropping the “Wedding” bomb - Every vendor has a “special” wedding price. Often, this

means they charge more for any wedding-related service. You can save as much as 30

percent by keeping the occasion to yourself wherever possible.

4. Putting your loved ones to work - One of the biggest costs in most wedding-related items

is the cost of labor. When you pay for flower arrangements, you’re mostly paying for the

florist’s time. Instead of hiring professionals, consider putting your family or friends to

work, and save a few bucks!

5. Spread out the cost with a Unity Catholic Federal Credit Union Savings Account, or

Personal Loan!

Your trusted advisors at Unity Catholic Federal Credit Union are here to guide you every step of

the way and help you to afford the wedding of your dreams.

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