How To Save Money On Your Wedding!!! | Wedding Budget Tips

What’s up legacy builders, I’m Rob I’m Reshawn and this is Learn Hustle Grow Learn Hustle Grow about creating a legacy We’re sharing our passions for money marriage and travel with other legacy builders like you according to 2018 studies the average cost of a wedding is $38,000 Both and The Knot conduct annual studies regarding the cost of a wedding in the US Want to know more before we go any further hit like subscribe and that notification bill according to The Knot the average price of a wedding in 2018 was $33,000 Brides magazine states, they’re average for a wedding in 2018 was 44 thousand dollars Yes, these costs do include the price of the engagement ring because we can’t account for the difference Let’s just say that the average u.s Wedding is between thirty three thousand and forty four thousand dollars If you have never planned a wedding, you might think wow, that’s a lot of money How does a wedding escalate to that extent these are national averages that average most certainly changes based upon your city and state? Let’s be clear by definition The word average means there were those who spent much less and there were those who spent much more The long and the short of it is when people playing events they often do so without a budget We have an idea what we want We spend based upon our vision before you walk down the aisle make sure you have discussed the seven topics in our before you say I do video as the administrators of a Facebook group for married couples We often hear stories of regret most often that regret is the result of not talking about the hard stuff upfront Many people spend more time planning the wedding than they do planning their marriage If you are planning your wedding, it is important to understand that your wedding needs a budget yet It’s a big day, but it’s only one day Plan ahead to avoid starting your marriage with additional debt. Why do we say additional? Americans have seen continued increase in home auto student loan and credit card debt According to debt org the average American family with a credit card carries more than $8,000 in credit card debt alone if you’re starting your Union debt-free Congratulations, let’s discuss how to start your marriage without wedding debt Does your vision match your budget? It’s common to hear both men and women speak about the wedding of their dreams More so women but men also have expectations of the event who doesn’t like a wedding. It’s a big party where people dress up enjoy food Music drinks all at the expense of the hosts So think of it that way a wedding is just a big party that you or you and your parents are responsible for paying for Knowing that we had to pay for our own wedding We made sure the entire event was paid off before we returned from our honeymoon when we got married in 2009 the following numbers were true for Dallas, Texas on the low end a wedding started at $20,000 and on the high end it started at 40,000 as of 2018 the average cost of a wedding in Dallas, Texas is approximately $33,000 Without a honeymoon. It doesn’t sound like a lot has changed in the last 10 years. We had no help paying for our wedding Our parents were not in a position to contribute in any way we had no expectations they would we did not want to spend more than $10,000 including the dress and the honeymoon Excited about the idea of getting married on a beach we opted for a destination wedding in Riviera, Maya, Mexico We invited everyone giving them eight months to plan for the event Having chosen a destination wedding. We knew that everyone would not make it we were okay with that We suggested our guests consider this to be a vacation. They were welcome to bring a plus-one And make plans to enjoy themselves outside of the ceremony and reception When we return home, we hosted a wedding watch party for our friends back in the DFW We reserved a private room at a restaurant and served lunch. Yes We know there are people who feel that it is tacky to expect someone to pay to come to your wedding Those people should feel no need to make the trip Keep in mind those same people will show up to your wedding complaining about the dry chicken And whack DJ the 2018 study conducted by the not Stated that the average cost of catering was 70 dollars per person This cost was separate from the venue and did not include a cake the average couple hosts 136 guests based on these numbers your out-of-pocket 9,500 $20 for food alone in a group of people focused on becoming debt-free We asked married members the following question What would you change about your wedding now that you are focused on being debt-free? We were surprised as so many people said they wish they had eloped Unfortunately, there’s always a chance of drama when you bring friends and family together some shared that they would have had a smaller wedding with Family and close friends others shared that they wish they had saved longer Others say they would have spent less on the wedding and more on the honeymoon There were also those who wish they had not submitted to pressure from family to extend the guest list and spend more Some admitted to opening credit cards or taking out loans for the occasion others borrow from their retirement accounts Thousands of dollars in debt later. It’s no surprise that many of them stated They would not have spent so much on just one day While paying for a wedding on credit may not seem like a big deal Now it all adds up you are building a life together and there are tons of other costs to consider Unfortunately, there is so much focus on the big day that everything else takes a backseat After the honeymoon you will be faced with the reality of daily expenses Take a step back from the fantasy and look at the big picture Use your engagement to save for the wedding you want if you are watching and you are not yet engaged Save for the possibility if you don’t have a budget for your wedding chances are you don’t have a budget for your life? We can help you with that So here’s the skinny Begin with a budget spreadsheet not good at Excel. No worries microsoft offers a wide variety of free spreadsheets planners and templates Check out templates office comm when you get there type in wedding budgets in the search bar They also have great personal budgets, too we like the one titled wedding budget tracker this tool allows you to enter the total amount you want to spend and assign percentages to the various categories There’s also a section for financial contributions made by the family. They’re gonna invite guests. They should contribute to the cost regardless of age or gender we noticed that parents had quite an impact on a Number of the couples who went into debt if your family and friends have an expectation regarding your wedding It’s a good idea to get out in front of that as early as possible Communication is important share with them your desire to start your life together without the stress of wedding debt This conversation alone could save you thousands of dollars Let’s talk about more ways to save on your big day The reception venue is generally the largest expense of a wedding according to the knot. The average cost is over $15,000. How can you spend less? So a few ideas on how to save money for the venue? Get married during the daytime on a weekday. This is much less expensive than a weekend consider a local park or Forest Preserve You can actually get a permit to reserve your space. The pictures will look incredible Have a wedding and a reception at a single venue after the ceremony ends the party begins no way for anyone to get lost Airbnb a home that will accommodate both the wedding and your reception City Hall is probably the least expensive option for a wedding Consider reserving a private room at a restaurant for the reception Last but not least Vegas baby Vegas Chapels are known for their affordability. Let’s talk about the engagement ring yes, this can be a touchy subject a Ring is a symbol for your commitment to one another? remember neither the ring nor The wedding will determine what kind of marriage you will have Here are few ring ideas from a group of individuals focused on financial independence Visiting the returned ring area of a jewelry store can result in huge savings diamonds are artificially inflated opt for a precious stone as an alternative or replace the larger center stone with a white sapphire many couples agree to alternatives like Moissanite and cubic zirconia, whatever you decide make sure that both of you guys are on the same page, ah the dress here are a few ideas to reduce the cost of the all-important wedding dress Rent the dress for about 10 percent of the cost I have a friend who did this and she was absolutely thrilled with the results Purchase your dress from a resale shop or online resale Amazon has lovely brand-new dresses for under $200 Check out department store clearance sales. I purchased my dress from JCP calm with a promo code after alterations, the total cost came out to be about $100 If the dress doesn’t have to be white consider a special occasion dress if you have to discipline the stay on budget bridal shops do have sales The two areas where people wish they had spent more or done more research were the photographer and videographer When the event is over all you have your memories While the resort offered these services we wanted to make sure we got a professional we hired a professional team found through online research and paid an additional fee to bring them on to the resort the pictures and video were Amazing at the end of the day. You want your wedding to be a stress-free event Associated with pleasant memories. Are you planning a wedding? Have you planned a wedding? What would you do differently? What advice do you have for couples in the planning process? Please share your ideas for ways to save money in the comments below See you next video


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