Planning a wedding can be a big expense and it can be difficult to know where to splurge and where to save. Budget management is one of the services we offer to help you keep your wedding budget intact but if you need a little more assistance in knowing what costs to consider at the beginning of your planning process it may be best to consult a Financial Advisor. Today, Robert T. Anderson, Financial Security Advisor for Freedom 55 Financial talks about how to prepare and budget for wedding costs.
WHAT WEDDING COSTS TO CONSIDER WHEN PLANNING YOUR BIG DAY
BY ROBERT T. ANDERSON
In 2014, the average Canadian wedding costs a whopping $31,685. But that doesn’t mean you need to break the bank on your big day. Here are some ideas to keep costs in check before you tie the knot.
What’s the plan? If you are newly engaged, sit down with your partner early and talk about your hopes and dreams for the day. Make a list of what you’d like to do and be sure to keep it handy. This can help keep your plans rooted in reality when you get the urge to splurge. Ultimately, weddings can be expensive, so make sure this conversation is also about money. You and your partner may have very different ideas about what you want to spend.
Go big, where necessary. It’s okay to splurge on the things that are important to you and your partner. You can always find savings elsewhere. If you’re not a big foodie, splurge on the cost of a photographer and consider serving hors d’oeuvres rather than an entree. Have a dream venue in mind, but feel flexible on the day of the week? Venues often charge less to have a wedding on a Friday or Sunday rather than a Saturday.
Focusing your budget on the things that matter most can help you keep expectations in check and ensure your special day is all that you dreamed about.