*According to marriage advice website The Knot, the average cost of a wedding hit a national all-time high of $31,213 with no signs of slowing down. Just six years ago, that figure hovered under $28,000.
For most of us, our wedding will be the most expensive party we ever throw. Having all of your loved ones in the same room to celebrate with you can be worth the expensive price tag, but it doesn’t mean you can’t strategize ways to slash your wedding day price tag and save big.
Crowdfund Your Big Day
More couples are tapping into their personal networks and asking friends and family to pay for their wedding through crowdsourcing. It may not be that unreasonable to ask for money instead of registering for things you really don’t need, such as china and kitchenware. Sites like GoFundMe can help set up your crowdfunding campaign and keep your details organized. You can also register an account on an online wedding registry platform like Honeyfund to help fund specific goals, such as your honeymoon at an all-inclusive resort in the Caribbean or improvements for your new house.
Start a Side Hustle
Keep your financial stresses at bay and take control of your wedding expenses with a side hustle. Start with traditional advice by picking up odd jobs ranging from tutoring to landscaping. Then move onto lucrative options like renting out a room on Airbnb, your yard on CampInMyGarden or your car on GetAround. But if you already have a thriving personal network and are gifted in sales, there’s also side business opportunities like Young Living or the global leader in direct sales, Amway.
Plan Wisely
Save thousands just by picking an alternate day of the week to get hitched. Friday evenings are becoming more popular options for weddings, but there are other things to consider. Do a little Google sleuthing to find out what types of sporting events, conventions and holidays are going on and avoid them like the plague. Rooms and entertainment will be at a premium and harder to nail down. And while three-day weekends can afford your guests more time off work, airfare and hotel rooms are typically more expensive.
Before booking a traditional venue around town, look at options like state park gazebos, rooftop terraces and private gardens. You may find something less expensive and more intimate while creating a lasting impression.
Bravely Ask for Discounts
Most vendors will offer some type of discount if you ask or come back with a price from a competitor you want them to match. Wedding dress boutiques often sell samples right off the rack for a discount. Venues may let you bring in your own booze with a corking fee attached. And caterers may offer snacks during a cocktail hour when pressed. If you’re not making headway, ask if there’s a better discount available if you pay cash and are ready to sign today.
Rack up Reward Points
Consider using a credit card with reward points to pay for your wedding. Just be sure to carefully pay off the balance each month. Use the accumulated reward points to pay for your honeymoon suite or airfare. You might save yourself a few hundred or even thousands of dollars without ever feeling the pinch of cutting back. Sync up your wedding credit card to an app like Mint to keep a detailed budget of what you’re spending and where to cut back.
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