When planning a wedding, many couples struggle to stick to a budget. In fact, a recent study found that the average couple spends $31,213 on their wedding. This may not seem like a lot of money for some people. However, it can be difficult for others to find the funds necessary to cover all the costs of getting married. So why do so many couples spend more than they planned? Here are some of the most common reasons.
Trying To Please Everyone
When you’re planning a wedding, everyone seems to have an opinion. But know that you can’t please everyone! After your wedding, it’s unlikely anyone will remember what kind of flowers were on the tables or how expensive the open bar was—you might even forget those details yourself. But they will remember feeling the love in the room. And when you look back, you’ll likely remember the joy you felt on your wedding day and being surrounded by the people you love. So when planning your wedding, don’t cave to outside pressure. Instead, stick to your budget.
Unclear Budget or Expectations
One common issue that couples run into is not setting a clear budget or expectations for expenses. This lack of planning can lead to overspending on unnecessary items, causing stress and potentially impacting their financial stability after the big day. It’s important for couples to sit down and have a frank discussion about their budget before diving into wedding planning. Setting boundaries and priorities can help prevent those cost overruns and ensure a more enjoyable, stress-free experience leading up to the big day.
Using a Wedding Planner
While hiring a wedding planner may seem like the solution to all your problems, it can contribute to overspending. That’s because talented wedding planners come with a price tag, and they often have their own preferred vendors that may not always be the most cost-effective options. In addition, brides and grooms can get carried away when planning their big day with a planner, leading them to splurge on things they don’t really need.
Paying for Too Many Extras
One of the most common ways couples overspend is by paying for too many extra items. This can range from extravagant floral arrangements to an over-the-top cake, elaborate favors, or even a costly photo booth. While these added touches can enhance the experience for your guests, it’s important to prioritize what’s important to you as a couple and stick within your budget when making decisions.
Underestimating the Cost of Everything
Underestimating expenses is one of the most common reasons couples overspend on their big day. Whether booking a luxurious venue or selecting the perfect gown and floral arrangements, it’s important to do thorough research and establish a budget before making any commitments. Don’t forget about those hidden costs—think taxes, gratuities, transportation fees, and more.
Not Setting Priorities
Couples often have unrealistic expectations and try to include every detail that catches their eye, forgetting to take the time to ask themselves what matters most to them. Sure, those personalized napkins are cute, but do they really add anything meaningful to your overall wedding experience? Sit down with your partner and make a list of your top priorities for the big day. That way, you can invest in those details first and use any leftover funds to pay for the less important details.
Waiting Until the Last Minute To Book Things
Last-minute availability is often limited, and many vendors will charge a premium for rush services or last-minute bookings. It’s important to start early and plan ahead to secure the best deals and avoid high costs. So make sure to book your vendors ASAP!
Poor Negotiation Skills
A big culprit of overspending on a wedding is poor negotiation skills. Couples may find themselves easily swayed by sales pitches and persuaded to splurge on unnecessary extras. Additionally, some may struggle with setting clear boundaries and sticking to their budget. Know when to say no, and if you want a better deal, don’t be afraid to negotiate.
Getting Caught Up in the Moment
One of the most common reasons couples overspend on their weddings is that they get caught up in the excitement and possibility. However, it’s important to consider if those choices are truly worth going over budget for. Step back, take a deep breath, and think about what matters most for your big day. You should be spending on those things.
Lack of Planning
Couples often have grand visions for their big day but fail to consider how much each aspect will cost. Without a clear understanding of expenses, it’s easy to lose track and find yourself going over budget. In addition, acknowledging where you may be making unnecessary purchases can also help rein in spending.
Planning a wedding can be a very exciting time, but it can also be expensive. If you’re not careful, you can easily overspend on your big day. In this article, we’ve outlined the most common reasons couples overspend on their weddings. By being aware of these pitfalls, you can avoid them and stay within your budget. Don’t fall into any of these traps!