Gone are the days when the bride's parents were obligated to pay for their daughter's wedding. Nowadays couples are getting married later in life - after settling down and establishing a career. With the average Rhode Island wedding costing just under $42K, you're probably wondering how you're going to pay for your dream wedding. Well, we'd like to give you a few pointers:
Shortly after you get engaged, you should start saving (hopefully you've already started!). Try to put about 10 - 20% of each paycheck aside. This may sound like a lot, but if you write down every expense you have in one day, you'll see that you can make certain sacrifices. Instead of going through the drive-thru every morning for that cup of coffee or buying lunch every day, save money by making your own coffee and bringing your own lunch to work. Instead of going to the movies (which nowadays can cost a small fortune) rent a movie and microwave your own popcorn!
To figure out an estimated amount of how much you can save towards your wedding: multiply your paycheck by .10 - .20 and then multiply how many months before your wedding. Do the same for your fiance and then add the two totals together.
Have an account just for your wedding funds. This way you'll know exactly how much you have to spend. If you've already started saving, put some of the money in a CD or short-term mutual fund instead of a savings account. You'll earn more interest.
To cut down on vendor costs, do some of the work yourself. Such as making your own centerpieces and favors. Invite your friends over for an "arts and crafts" night. I'm sure they will be more than happy to help you out!
Believe it or not - hire a wedding consultant. Couples tend to think that hiring a wedding consultant can be expensive. Wrong! If you create a budget and give it to a wedding consultant, they will do their best to make the most of it. In many cases, a wedding consultant will save you money.
If money is a problem (due to debt, going to school, unemployment), then you must be realistic when creating a wedding budget. You'll have to cut down on wedding expenses and try to do much of the work on your own.