Wedding budget mistakes (and how to avoid them)

$ Let’s talk money $

For a couple, sticking to your budget can be one of the difficult aspects of wedding planning. Only when you start wedding planning does it really hits you how expensive everything can be. However, your wedding doesn’t have to break the bank if you steer clear of these 5 wedding budget mistakes so you can save valuable time and money.

Mistake 1 – Not Tracking Expenses

While it is not the most exciting aspect of wedding planning, it certainly is one of the most important. One perk of tracking expenses is seeing where you’re actually spending your money in comparison to your budget. For instance, when booking your vendors you may incur some additional add-on costs which weren’t factored into your budget. If you continue spending without tracking, you can definitely overspend which defeats the purpose of your budget.

Do this instead: You can begin tracking your expenses on a simple Excel doc, Google doc or budget phone app so you can record and evaluate your expenses consistently. By tracking your expenses, you’ll be able to pick on increased costs and make the necessary adjustments accordingly.

Mistake 2 -Inaccurate Wedding Estimates

It’s sadly very common for couples to not take the time to research the wedding industry’s pricing and rates. Some people rely on word-of-mouth averages from people who would have gotten married 10 years ago. However, with rising inflation rates and changes in the wedding industry with Covid, it’s up to you and your wedding planner to determine accurate wedding estimates and quotations.

Do this instead: Many vendors nowadays have a website or social media page where you can go ahead and book a consultation or quotation. Reach out to multiple vendors for the same product and service so you’ll be able to make better-informed purchasing decisions that align with your wedding budget.

Mistake 3 -Not Prioritising

From extravagant floral arrangements to sky-high cake displays, there are hundreds of fun things you would love to include in your wedding. But let’s be real if you have a strict budget, you’ll have to prioritize what’s essential and what isn’t.

Do this instead: Create a List of Non-Negotiables which are things you’ll never forgive yourself for if you end up cutting it from the plan. Whether it’s a live band as opposed to a DJ or real flowers over artificial arrangements, choose the top-tier items that you want to be included in your wedding and prioritize your budget in those places before you start spending anywhere else.

Mistake 4 – Impulses Purchases

Too much splurging—on both big and little things—is a great way to blow your budget. Whether it a $10 or $10,000, impulse purchases can blow your budget completely. A trap that many brides fall into is spending on multiple small purchases which can add up quickly! Purchasing everything without thinking about it can blow out your budget without you realizing it.

Do this instead: Practice self-control and check yourself before an impulse purchase, if it’s not in your budget, do not buy it! If you’re stuck on making a change in your budget, take some time to review if your budget can accommodate it.

Have you made any of these mistakes in planning your wedding? A great way to better manage your budget and wedding spending, work with a wedding planner.

At TCJ event, we’re committed to making your wedding special with different budget ranges, reach out to us at events@tcjmanagement.com to book your discovery call.