The rising inflation rate is seeping into household budgets, affecting mortgages, grocery bills, and gas costs. As wedding bells ring for many couples during these unfavourable economic circumstances, inflation also influences wedding budgets. According to Canadian outlet Global News, getting married could cost 30 percent more amid inflation. American couples are also dealing with similar financial constraints. The downfall of the COVID-19 pandemic has also contributed to rising costs due to higher competition among the “wedding boom,” and increased cost of offering services, such as food.
The key to navigating the high wedding costs is learning where to save and where to splurge. Consider the following methods to make informed financial decisions about your wedding and take the stress out of the equation when tying the knot.
Where to Save
Consider being cautious about your spending in the following areas.
Offering memorable wedding favours is a tradition for many couples, but it’s important to be mindful of how much you spend. While your guests are busy enjoying your wedding activities, such as eating cake, posing for photos, or eating food, they may forget to take their wedding favours home. If you want to include wedding favours, choose something small and edible to order in bulk to reduce the overall cost.
Flowers & Centerpieces
Flowers and centrepieces contribute to your wedding venue’s overall décor, but adding too many elements can make the space look cluttered and increase costs, especially since the cost of flowers has increased in the past few years. You can reduce centrepiece costs by reusing the same one for your ceremony location and reception hall. When choosing flowers, consider locally grown varieties and flowers in season to avoid high costs.
Your wedding cake will likely be one of the most important elements of your celebration, but some couples order larger cakes than needed for the design’s sake. This results in wastage as not everyone prefers the same flavours, which can be costly. You can save money on your wedding cake by using a partial display cake and only ordering a real cake for the number of guests attending. Talk to a professional wedding cake creator to discuss your options.
Where to Splurge
Your wedding will likely be one of the most memorable days of your life, and splurging on a few elements can enhance your celebrations.
The ring you exchange with your partner will signify your commitment to each other and the beginning of a new journey. It’s also one element of your wedding that will live on beyond that day, so it’s important to spend more on your rings rather than flowers that are temporarily part of the occasion.
Consider splurging on the wedding bands you really want, whether that’s a unique one of a kind wedding band, something classic or modern. You’ll be wearing it for the rest of your life, so make it something you love. Working with an experienced custom jeweller can help you customize the perfect ring that illustrates your story.
A key benefit of working with a custom jeweller is that you can still save some money while splurging on your ring. Smaller jewellers likely have lower overhead than a big box, allowing them to charge a lower price for your wedding band and provide you with option to fully customize your ring.
Venue & Food
One detail you will never forget about your wedding is how it looked and how much your guests enjoyed the ceremony and reception – and the venue and food play crucial roles here. Choose a reputable venue with experience arranging weddings and carefully select a caterer. The venue manager may be able to assist you with the decoration, table settings, and catering options, which can streamline the planning process and help you save money.
Your photos will live long past your wedding day, and you will cherish them for years, so hiring a professional photographer is important. Compare work from different photographers and choose one with relevant experience and photos you admire. When you browse their portfolio, their past work samples can help you determine if their vision matches yours.
It’s also important to consider what equipment they use, how big their team is, and their editing process. A professional photographer or team will have multiple lenses, a secondary camera body, and experience editing raw photos.
Your wedding is one of the most important days of your life, but inflation can take a toll on your wallet. The good news is learning where to save and splurge will allow you to plan your dream wedding without hurting your financial health.
Photo Credit: prostooleh Via Freepik