32 THE QUEENS COURIER • BRIDAL • JANUARY 17, 2019 FOR BREAKING NEWS VISIT WWW.QNS.COM
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A DREAM WEDDING WITHOUT COST REMORSE
5 ways to keep your wedding budget on track
BY CARRIE SCHWAB-POMERANTZ
Th e approach of the traditional wedding
season got me thinking about not
only the incredible planning it takes to
pull off a dream wedding but also the
incredible cost.
Let’s face it: Weddings support a huge
industry of planners, caterers, bakers, fl orists,
dress designers, destinations -- you
name it. And they all can come with
a pretty heft y price tag. Don’t get me
wrong; I’m all for having the best, most
beautiful wedding you can imagine. But
I’m not for getting into debt that you may
be stuck paying off for years to do it.
Traditionally, it was the parents of the
bride who picked up the tab. (I know of
a retired mom who went back to work
to pay for her daughter’s wedding!) But
today, with the prevalence of couples
waiting to get married until they’re set in
their careers, same-sex marriages and second
marriages, that tradition may be the
exception rather than the rule. If you’re
planning a wedding, chances are you’re
also closely involved in paying for it, even
if you do get parental contributions.
So how can you avoid wedding-sticker
shock or wedding-cost remorse? I think
it comes down to using the same fi nancial
principles to plan that you do for your
other fi nancial decisions. Here’s what I
suggest:
• Start by thinking about what’s most
important to you. Before you focus
on the specifi c cost of your wedding,
you and your future spouse should
talk about your values, both personal
and fi nancial. What’s most important
to you? Don’t be pushed into thinking
you have to have a certain size or
style of wedding. Th is is your day, and it
should refl ect what’s important to you.
Small and simple can be just as meaningful
as large and lavish. It all depends
on what you want -- and what you can
comfortably aff ord. And, of course, you
both have to agree on it.
• Put your wedding in the context of your
future goals. A wedding is just one of
a long line of fi nancial decisions you’ll
be making together. You may want to
buy a home, start a business or fund
a child’s education. Would the money
you spend on a large wedding now
be put to better use later? I recently
heard of two instances in which a year
aft er the wedding, the couple wished
that they had that money for a down
payment on a house. Writing down
short-, medium- and long-term goals
is a basic fi nancial exercise. If you haven’t
already, I suggest you do this now
so you can determine where the cost
of your wedding fi ts into your bigger
fi nancial picture.
• Create a realistic wedding budget. Once
you’ve agreed on the general type of
wedding you want, get specifi c. First,
decide on the maximum amount you
can spend. (Ideally, that would be an
amount you actually have access to
-- not one you’d put on a credit
card.) Th en create a line-item budget.
Put down everything you can imagine,
from big-ticket items like venue and
catering right down to postage for invitations.
Don’t guess. Research and get
real numbers. Th is might be the time to
make a list of “must-haves” and “niceto
haves,†as I always suggest for a
monthly budget. Th at may give you
some room to negotiate as you make
specifi c decisions. Plus, it would be wise
to add in a contingency percentage for
good measure.
• Track your spending. I oft en talk about
mindful spending, and a wedding is as
good a time as any to put this into practice.
Th e best way to keep costs under
control is to keep track of every expenditure.
A spreadsheet can do wonders
in helping you stay on top of each
purchase as well as the growing total
amount. By keeping the numbers constantly
in front of you now, there will be
fewer surprises later.
• Be creative. Sticking to a wedding budget
doesn’t mean you can’t have everything
you want. From online printing
for invitations to doing your own fl owers
to having friends and family take
pictures, there are ways to cut costs and
still have the beauty and style you envision.
You just have to think creatively
and not be afraid to ask. Does a friend
have a large property that could be a
perfect wedding venue? Do you know
a novice photographer who would love
to have your wedding in her portfolio?
According to Th e Knot 2017 Real
Weddings Study, the national average
cost of a wedding is just over $33,000,
but that number can vary tremendously
depending on where you live and the type
of wedding you want. Whatever your
budget, you can have a fantastic wedding
by being true to your own values, staying
on top of the details and remembering
that it’s the memories your wedding
creates, not the amount you spend, that’s
most important.
If you can’t do it without pulling out
the credit cards, make sure you have a
realistic payment plan worked out well
in advance. Th e last thing you want is to
have the memories of your dream wedding
clouded by debt that could turn the
fi rst years of your marriage into a fi nancial
nightmare.
Carrie Schwab-Pomerantz’s weekly column,
“Ask Carrie,” can be found at creators.
com. (END ITAL)
Courtesy Creators.com
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