Tips to Plan a Wedding on a Budget

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Q: My boyfriend and I have been living together since our college years and he knows I’ve always wanted to make it official. At our first family barbecue once some of the COVID restrictions were lifted, he totally surprised me and popped the question. Over the last few weeks, we’ve been talking about what our wedding might look like. Based on what we can afford and wanting to be careful with the fourth wave, we’ve got a lot to consider. We also don’t want to get stuck paying deposits and having to cancel plans last minute because pandemic restrictions changed. Our parents have offered to help, but we’ll still have to be careful we don’t get carried away. What can you suggest to help us with our budget? ~Lily

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A: Getting engaged is an exciting time for you and your future spouse as well as your families and friends who want to join you in celebrating your love. While the pandemic has forced many couples to put their plans on hold, it has also ushered in a whole new era of scaling down wedding budgets. From eloping to garden ceremonies, photos in the backcountry or hosting a small wedding meal at a gallery, couples have found creative ways to plan the wedding of their dreams on a much smaller scale.

Whether your budget is bigger or smaller, it’s always possible to plan a memorable celebration of the first day of the rest of your lives. Here are some tips to get you started:

Event planning 101

Planning a big event, let alone a deeply personal celebration, can be overwhelming. Before you get carried away with all the details that go into planning a wedding, talk about what kind of wedding you’d like to have. Will it be traditional, casual or held at a destination? Do you and your fiancé want to invite a lot of guests or keep it more intimate? Think about the weddings you’ve been to or the ones you’ve seen in your favourite shows. Talk about what you liked and didn’t like and what you’d like to do too.

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Once you know what kind of look and feel you want for your big day, determine your priorities. Jot down what’s most important to each of you, and what is non-negotiable. Agreeing on your priorities is always Step 1 when it comes to event planning, because knowing what’s most important makes it easier to work within a budget as you firm up the location, book vendors and consider all of the countless other details that will make your day special.

Wedded bliss, not wedding bills

When planning the event of a lifetime, it can be easy to throw caution to the wind. However, keep in mind that your wedding is really just one day. The last thing you want to do is saddle your happily-ever-after with debt. To help keep your planning aligned with your budget, start by determining how much you can realistically afford to spend on your big day.

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If you and your future spouse have never talked about money, go easy on each other. The emotions you’ll both feel as you talk about making your wedding happen will likely cause some disagreements. Start with what you can agree on. Then work forward from that point during your next money talk. The foundation you lay for discussing your finances during this process will follow you into your marriage. It’s worth getting good at it before you tie the knot.

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Finding the money for your big day

Funds to pay for your big day could come from a number of sources. For instance, if you have money saved, that could jump start your wedding fund. If your date is many months away, determine how much you can set aside each month towards wedding costs. Create a budget to help determine what this amount should be. It might mean curtailing some of your discretionary spending, reducing as many regular expenses as possible, or looking for ways to earn a little extra. Temporary sacrifices tend not to feel all that restrictive when you’ve got an exciting goal you’re working towards.

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If you have family who would like to help you pay for your big day, make sure you understand the terms of their assistance. Is the money a gift or a loan? If the money is a gift, does it need to be used in a certain way, e.g., to pay for the flowers (which you may or may not want), or can you choose how best to use it? Gifts with strings attached can lead to resentment if plans change. Discuss your loved one’s expectations before you accept their gift. The same is true if the money is a loan. Then also be clear about the repayment expectations so that you know what you’re getting into.

Many couples also plan to use their line of credit and credit cards to pay for wedding costs. This sets up your future to pay for your past. Consider carefully if you want to tie the knot knowing that you’ll be tied to debt from your big day for months or years to come.

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Allocate your budget

Once you’ve determined how much money you’ll be spending, start making your list of what you’ll need to pay for. To start with, it might be easier to work with percentages rather than exact dollar values. For example, you may want to allocate 40 to 50 per cent of your budget for the reception. You might set your spending for your dress and tux rental and related attire at 10 per cent. Work out what percentages you’ll need to allocate for the ceremony you’d like to have, your photographer, the flowers, invitations, gifts for attendants (if you’ll have any) and your cushion.

A lot will depend on how big or small the event will be. Unexpected costs will also arise. Plan for them by not spending your entire budget and keep some money aside for just in case. If it’s not needed, use it towards your honeymoon or return it to your savings account. Regardless of how you pay for your wedding, having a budget will help you plan within what you can afford so that it’s memorable for all the right reasons!

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Tap into your network for expert DIY help

One of the best ways to save on wedding costs is to take your close friends and family up on their offers to help. Even those who don’t offer will likely be happy to step up if you ask. Once you’ve outlined your priorities and budget, look to your network to see what you can do yourself, or with the help of those closest to you, to save on costs.

For instance, if you have an aunt with a green thumb and beautiful flowers in her garden, consider making your own bouquets. Maybe you’ve got a cousin with just the right playlist and flare to be your DJ. Trade off a service you could do with a friend who is a graphic designer for DIY invitations and thank you cards. If you’ve got a fantastic up-and-coming professional photographer in your network, ask them to be your official photographer in exchange for using your photos in their portfolio. Entertainment, table décor, the cake or dessert, even your venue — see who could help you with what you need. Even if they can’t do it all for free, hopefully they’ll give you their friends and family discount.

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When looking for DIY help, stick with reliable friends and family who can work within your timeline. Also discuss with them if their help will be their gift to you. If you’ll be doing some of the work too, start early so that you’re not up late the night before your big day still altering a dress, building an arbour or making dessert. Doing a lot yourself can save money, but when you’re working towards an important deadline, that’s not the time to start experimenting with your skills. Make sure that any DIY projects are worth the effort and that you’ve got the time to complete them.

Do your research online but don’t forget to ask friends or family who have recently gotten married what they would do differently if they did it again. Tips from which month and day of the week are the cheapest, to sharing décor and advice about how to keep reception costs affordable, will help as you make your plans.

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The bottom line on the old, new, borrowed and blue

The average cost for a wedding in Canada comes in close to $30,000. However, there are countless blogs and websites devoted to planning a cost-conscious wedding. Scour them for the best tips and borrow ideas to incorporate traditions into your something new. Many young couples have chosen not to spend the equivalent of a down payment on a new home for a one-day extravaganza, realizing how blue they’ll be if it sets them or their parents back at least five years with other financial goals. From the rings to the dress and the honeymoon, look for fun, frugal and unforgettable ways to make your dreams come true!

Related reading:

Start Your Married Life Without Debt

How to Save Up for Any Big Purchase

Should You Pay Off Debt or Save?

Scott Hannah is president of the Credit Counselling Society, a non-profit organization. For more information about managing your money or debt, contact Scott byemail, check nomoredebts.orgor call 1-888-527-8999.