Big weddings are big money but are they worth the investment?
On average, a Canadian wedding costs around $30,000, according to Jane Geszler, the owner of Budget Blooms, a specialized floral service provider.
“In Vancouver, we have seen [costs of] up to about $100,000 and beyond,” she told Michelle Eliot, guest host of CBC’s B.C. Almanac.
While weddings can be a major milestone for many, it’s easy to blow through a budget because of bad planning or social pressure.
“Keeping up with the Jones’s or other friends who have had great weddings becomes an important factor in terms of what people end up spending, versus what they budgeted,” said Maili Wong, a Vancouver-based investment advisor.
So here are some tips to help you tame that wild wedding budget.
Where to begin
First, decide where the money is going to come from, said Wong. Know how much each side of the family will be able to contribute, if any, then decide on a limit that doesn’t leave you deep in debt.
Debt can compound she warned, and when all is said and done, that can be the worst kind of wedding hangover.
Prioritize
Wong suggests couples sit down together early in the planning phase and decide what elements are most important to them. If it is a priority that the food be memorable, start there and work backwards.
Multi-purpose props
Geszler used the same floral arrangements for her table centrepieces as she did for the bridal party bouquets.
Finding ways to turn one decoration at the ceremony into another that doubles for something else later in the day is a great way to save on flowers, table and chair rentals or even venues.
