Make a Payment Rates About Careers Contact Locations

6 Tips For Planning A Wedding On A Budget

June 6, 2018 It’s no secret that a wedding is one of the most expensive moments in our lives. According to , the average cost of a wedding in the United States last year was over $33,000. While it may seem impossible to stay on budget as you plan for your special day, trust us when we say you can still have an amazing event on a smaller budget! Here’s some down-to-earth tips to help you stick to your wedding budget.

1. Start with a realistic wedding budget

Get organized. Before booking anything, have a conversation with your future spouse and create three lists: must-have, nice-to-have and no-way. Must-haves are things you both agree will be worth spending money on, nice-to-haves are those you can pick from with whatever money is left over, and no-ways are elements that neither of you think are important enough to prioritize. With this in mind, you can begin calling vendors from your must-have and nice-to-have lists and gather quotes on pricing. Remember that shopping around is a good thing, as you will be more likely to find the best deals if you look at several different places. From these quotes, you can form a budget based on the average costs. 

2. Figure out how long you will need to save

You can use a really simple equation to figure out how much time you’ll need to save money for your big day: Take your total budget for the event and divide it by how many months you have to save. If the amount seems too much to save in any given month, add more time to your calendar or try cutting back on regular monthly expenses that aren’t essential. Summit’s online budgeting tool or our can help with that!

3. Cut unnecessary spending

As you begin saving for your wedding, take a look at any unnecessary expenses in your current spending habits. You could save a lot more money each month if you eliminate cable services, magazine subscriptions, Netflix and other services you can live without as you focus on the important day ahead. You can also cut spending by taking a bit off the top of your must-have wedding expenses.
  • Reduce the size of your guest list, wedding party, bridal bouquets, etc.
  • Try to pick wedding flowers that are in season and avoid pricey ones like peonies.
  • Choose a venue that doesn’t require you to use any particular vendors for food, music, etc. You can save a lot of money by choosing your own vendors and making little cuts wherever you can.
Deciding what to cut is never easy, whether it’s for your wedding or your everyday life. with one of our personal finance experts, and we can help you come up with a plan.

4. Get all the fees in writing

Keeping track of all those long contracts will come in handy in the long run. If you notice discrepancies in payments, for example, you can look back at the contract and ask the vendor to clarify. Forgotten fees can accumulate fast, so it’s best to stay organized right off the bat.

5. Don’t invite everyone you know

Keep the guest list to a minimum, only including people you genuinely want to share this moment with. Avoid throwing an invite to everyone you met in college or the great aunt you’ve only met once. This is also the time to decide what your rule will be for plus ones – consider only extending a plus one to married spouses or couples who have been together for more than one year, for example.

6. Ask for wedding help instead of wedding gifts

Ask friends and family to contribute their assistance to the wedding instead of buying an expensive wedding gift. If you know a friend with amazing photography skills, for example, you can save a ton by having them capture your wedding moments for little or no cost rather than spending thousands to hire a professional photographer. And starting out your life together on strong financial footing because you stuck to your budget? That’s our number one bit of advice to all you wedding-planning couples out there. You might also be interested in Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. Here are some tips on how to prioritize your debts and bills, negotiate with creditors and get your late payments back on solid ground. Even in these challenging times, there's  whole lot of good happening! At Summit, we've always believed financial success happens together and that's been truer than ever this past month. Here's what "together" has meant for our community. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. If you’re not sure if something is a scam, it’s ALWAYS better to act like it could be! Fraudsters are always coming up with creative new ways to steal from you and quick to take advantage of a crisis. Here are some of the most popular recent scams to watch for. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Some scams go right for your money; others try to get you to part with personal information – like account numbers, Social Security numbers, passwords, and personal identification numbers (PINs). Find out what you should look for and how to protect yourself. The holidays can be stressful & that’s why it’s important to prioritize your self-care. Use these tips to reduce stress without draining your bank account. Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell. And if you can find a way to save money on those improvements or cut home expenses at the same time, well that sweet spot just got a little sweeter! Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA