Manage your wedding budget well 2022
Manage your wedding budget well 2022
The average budget for a wedding is between €8,000 and €15,000.
But in reality, the average has little meaning. The proper wedding budget is the one that corresponds to your choices and your situation!
In complete preparation for his wedding, it is today Félix, one of the Plénit’Finances coaches, who offers you 5 tips for managing your wedding budget.
- Communicate with your partner
- Make the first budget
- Monitor cash
- Divide the expenses
- Avoid credit
- Communicate about your expectations and those of your families
Before establishing a budget, define what is important to you, your spouse, and your respective families. A wedding is also a marriage of lifestyles and sometimes different cultures, traditions, and religions…
Certain major expenses for one family will be deemed unnecessary by the other family, and it is up to you, the bride and groom, to reconcile expectations while respecting each party.
If the parents are the ones who must be satisfied as much as possible, you can, on the other hand, free yourself from the gaze of the other guests.
Aunt Hortense will want to impose on you the princess wedding she couldn’t have 50 years ago, your childhood friend will pressure you by telling you about his future wedding on a sailboat, and cousin Hubert will tell you that the shoes, that’s what’s most important. You won’t end it.
Yes, you want this day to be perfect… but you can’t please everyone. Better: you do not have to satisfy everyone.
Budget first and save smart.
Once the wishes are more or less defined, you will establish your wedding budget: assign a cost to each expense item.
Prioritize expenses that matter to you and limit those intended to satisfy other people. Admittedly, the idea of cutting costs is not a dream… But don’t be ashamed to reduce the bill: love in a couple is not measured by the money spent to celebrate your wedding!
To reduce the budget, you can also look for intelligent savings that will not make you give up the quality of the services. For example, why not create the graphic design of your wedding yourself (invitations, labels, table plans, menus, etc.) with a free online tool like Canva?
The wedding has a high and low season: favoring the Indian summer rather than the month of July will give you better bargaining power. Also, think of the sales (for decorations or outfits) as a source of savings for those who know how to prepare…
Preparing, precisely… let’s talk about it!
The budget is reasonable, but above all, manage your cash flow!
A wedding budget is planned early, very early.
Don’t launch the wedding “start” until your budget is perfectly established.
Once in the storm of preparations, you won’t want to think about money anymore. You’ll need to know that it’s all in the nails! So think about the budget before the wedding preparation and not during.
Service providers will ask you for down payments: generally 30% up to 6 months in advance, then the rest according to a regular payment schedule. In other words, some expenses will have to be provisioned, but many will have to be paid from the start.
Your financial roadmap should allow you to follow disbursements for each item (caterer, room, outfit, wedding rings, photographer, etc.) as they go along. Paper or electronic, it doesn’t matter, but you need to know where you are at a glance.
Finally, be aware that we tend to exceed the estimated budget by about 15%…
In cases where the parents finance part of the ceremony, consider their expectations (at least in detail) and allocate their contribution to a position that you know is important to them. It’s a way to thank them without making the family that would contribute the least feel uncomfortable.
In terms of sharing the costs between the families, 50/50 is not mandatory: it is commonly accepted to distribute the families’ contributions to the number of guests.
Some bride and groom offer their guests to favor a pot intended to finance the honeymoon rather than material gifts. A track to explore if you are ready to set the destination and the duration according to the amount received!
Marriage credit a bad idea
Our coach strongly advises against going into debt for a single day, however important it may be in a lifetime. Its financial consequences should not tarnish the good memories of marriage.
But do not touch your precautionary savings either: it is not made for that! To start your life as a couple on the right foot, you must have a healthy financial situation.
It would help if you made provisions for the wedding using your monthly savings capacity.
To do this, you may need to revise your budget… the wedding budget, yes, but also – and above all – your budget: reduce your lifestyle to generate more savings.
A healthy savings capacity will be helpful to you all your life… and maybe more than you think! Because after the wedding often come other expenses: increased lifestyle, child, moving…
We often forget that finances play a role in the health of a couple. Financial difficulties can create tension and sometimes endanger the marriage that caused them.
How to estimate the cost of your wedding?
If the average cost of a wedding is around 13,000 euros in France, you need to consider how you plan to get married. The number of guests, type of wedding, reception, and menu all of this has an impact on the overall amount. But whatever your starting budget, you may exceed it.
Many couples need help to finance their marriage. First of all, start by evaluating the amount of your budget and compare it with your financing capacities. You will know if you need an extra boost or if your couple savings allow you to achieve the wedding of your dreams.
To calculate the amount of your marriage, nothing should be forgotten. As you can imagine, the costs inherent in your wedding do not only concern the reception hall and the meal. Many ancillary costs are added to it, And very often, we only discover them when organizing our wedding.
Anticipating will allow you to avoid unpleasant surprises and to be able to look for solutions. Outfits of the bride and groom, place of reception, wedding meal, flowers, decoration, wedding car, cost of invitations, price of wedding rings, DJ, animator, all the expenditure items must be carefully analyzed. You will have to budget them as much as possible to see them more clearly.
What if you don’t have enough to fund your wedding?
Marriage is one of the most critical stages of life.
When we think of marriage, we think of love, happiness, child, and future, but also of the ceremony, family, banquet, and party.
The budget to prepare such an event is essential, and sometimes the desires exceed the possibilities.
Financing your wedding is one of the possibilities offered by Milenia, in partnership with Mariage.ch, to make your dream come true.
We’ll explain what applying for a wedding loan entails, the costs of the loan, and the conditions you can expect to obtain.
Preparing for the wedding
First, it is essential to plan how much it will cost and establish a budget and detailed preparation plan. Otherwise, the whole set-up will become hell.
It is necessary to provide food, animation, rental of the place, a photographer, decorations, dresses, rings, etc.
marriage.ch is the perfect ally to help you prepare for this tidal wave. Here is an idea of the services offered by mariage.ch :
– A “Check List” tool to always stay up to date with the tasks to be carried out
– A host of service providers operating in all areas to make your marriage as successful as possible and give you a whole host of ideas
– A tool to prepare the plan tables and manage guests
– A budget calculator
– The creation of your website for your wedding
How much does a wedding cost?
And yes, getting married is great, but it all comes at a cost.
To give you an idea, for 100 guests, the costs amount to an average of CHF 30,000. Your wedding will cost the price you decide to invest in, but sometimes the desires exceed our expectations, and the bill can rise quickly.
We generally charge CHF 80 to CHF 100 per guest for the aperitif and the meal. Added to this are the wedding rings, the clothes for the bride and groom, which can be counted in thousands of francs, the photographer, the entertainment, floral decorations, location rental, etc.
The wedding.ch budget calculation tool is very well thought out and fully customizable; it tells you all the points to take into account for the preparation of this event.
You can add or remove sections and have a detailed follow-up of what you have paid and what you still have to pay.
Asking for financial help from your family
Often the first thing a bride and groom think of is asking family for help. Parents are usually the ablest to contribute to the expenses of your wedding.
Sometimes a close person other than a relative may want to help you. This can be a godfather, a godmother, or any other person he cares about; a person who holds an important place in your life may wish to help you. This can be done either by advancing your part of the missing budget or by participating directly in your wedding financing.
However, asking family and loved ones to participate is not easy. It depends on their financial situation and the type of relationship you have with them.
Apply for a loan to finance the wedding
Contrary to popular belief, it is not uncommon to have to take out a loan to finance your wedding. With the costs of a union being exceptionally high, many couples have no choice but to use this solution. The bride and groom can thus obtain help to organize their wedding in their image. They get a loan for an allocated amount, considering the interest they will have to pay.
Moreover, there are several possible solutions for couples seeking financing. The first is to request a loan, in other words, a wedding loan in this specific case. It is advantageous for future spouses because it is unlocked without providing invoices.
The second option is microcredit, a type of loan granted by social services for those who do not have access to conventional loans.
The choice of one of these options should be studied carefully. The best is to make an appointment with your banker or to perform online simulations to get a first idea of the amount you can claim to finance your wedding (in part or whole).
Check if you are eligible for financial aid.
Also, note that there are certain rights to finance staff hiring. We are thinking, in particular, of the wedding servers, the DJ, etc. You may be able to pay for them with service employment vouchers, have you thought about it? On the other hand, the bride and groom, who are employees, can also claim aid from their employer (amount offered by the company as part of a wedding, reductions on the rental of place via the Works Council, etc.).
Opt for an eco-friendly wedding
Right in the current movement, the green wedding is economical and responsible.
Rental of your wedding dress, natural decoration, DIY guest gift, ecological announcement, intimate wedding, menu composed by local producers, everything is thought out to celebrate your union while working for the planet.
In addition to saving money and having a committed wedding, you will have a beautiful country or bohemian and rustic wedding theme!
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Manage your wedding budget well 2022
