Since the economy is dominating everyone’s thoughts and conversations these days, I thought I should address what someone planning a wedding should consider.
1. Is it wise to spend a lot on a wedding in these harder times? There can be two schools of thought on this. First, if you have saved and know what you can spend on your wedding without going into debt, then by all means, do exactly what you have planned for and worked for so long. There is nothing wrong in that. And, you guests will appreciate it! On the other hand, if you had been planning a destination wedding and had hoped that most of your 300+ invites would travel to attend, you may want to think again. While you may be able to afford to host those guests, those guests (wedding party included) may not be up to spending the amount to make that happen. Keep in mind that while you may be shelling out a good bit to host them for one night, they are also shelling out the cash to give you gifts, host showers, travel, buy attire, etc. As with everything in a wedding, be as courteous as possible when it comes to your guests and wedding party.
2. What happens when I find that my wedding budget has shrunk with the economy? Like everything else, you will have to downsize. Don’t think that you can have the same wedding on a different budget. You will have to be realistic and change some things. The first thing to change is the guest list. If you find that you aren’t able to host 300 guests anymore, cut the guest list! This is the easiest way of saving money. If everyone would follow those simple words, so many more people would have the wedding that they wanted in terms of style. Why sacrifice your love of flowers or photography because you feel like you have to invite everyone you have ever known? Invite only those people that really mean something to you and your fiance and then you will have more money left over to offer those guests a better menu, nicer decor, a full bar, etc.
I realize that whether the economy is good or bad, people will get married. How you do that may change, but know that your day can be just as meaningful and beautiful with 75 guests as opposed to 300 guests.
To be continued: next time, we’ll discuss what you should and shouldn’t cut from your budget when cuts need to be made.