Cutting Wedding Costs

Congratulations, you’re getting married! So if you’re starting to plan for your upcoming nuptials, you know that the price can be steep. In fact, the average cost of a wedding in the U.S. is around $28,000. However, it is possible to have a memorable day while sticking to a realistic budget, advises the New Jersey Society of Certified Public Accountants (NJSCPA). Here are some tips:

Avoid the Crowds
June is the most popular time to schedule a ceremony, which also means that it is the most expensive. Caterers, reception halls and other vendors are much more likely to offer better pricing — or be willing to negotiate on costs — if you set the date during slower months of the year, such as January, March or November. You can also lower your costs by avoiding a wedding on a Saturday night, the busiest time for receptions, and picking an afternoon affair or a Friday night instead.

Set Smart Priorities
If your budget is limited, then devote your dollars to the most practical items, those that will be meaningful to you and your spouse and last the longest. For example, it may be best to pay a little extra for a high-quality, reputable photographer, since the value of pictures or videos will last a lifetime. On the other hand, while flowers add a touch of beauty to the festivities, it’s best to avoid setting your heart on out-of-season or very expensive varieties. If flowers are too expensive altogether, simple candles or tea lights can brighten up your surroundings at a much lower cost.

Think Outside the (Dress) Box
A wedding dress sold in a bridal shop will likely cost significantly more than a beautiful gown that you buy at a department store, so keep an open mind when you go shopping. Find out, too, if the mother of the bride or groom or another loved one has a gown that she would be willing to lend for the occasion. That will not only cut your costs but also add some meaning to the moment. Finally, in lieu of renting or buying a tuxedo, consider opting for a great new suit that the groom can wear again.

Be Creative
Simple party invitations with a postcard for responses will probably run much less than an elaborate traditional wedding invitation with multiple layers and inserts. To add a personal touch, consider designing and printing your own invitations.

Have Fun with Your Choices
Catering is usually a big ticket item, so this is a great place to search for cutbacks. Consider choices that will make your party unique and most enjoyable for you and your guests. A buffet meal, for example, not only promotes socializing, but it will also cost less than a sit-down dinner because the caterer does not have to hire waitstaff. Don’t feel compelled to have a wedding cake, either, since they can be very costly. Some couples opt for a tower of cupcakes or other fun and affordable alternatives.

Consult Your CPA
Your local CPA has the expertise to provide valuable advice on all of your financial decisions and important milestones. Make sure to turn to him or her with all of your financial questions. If you don’t have a CPA, you can easily locate one online using the NJSCPA’s free, online Find-A-CPA service. Just go to www.findacpa.org, and in a few clicks you can locate a highly qualified professional who can assist you.



Produced in cooperation with the AICPA
©2009 The American Institute of Certified Public Accountants

June 1, 2009