Wedding Expenses

Engagement rings are expensive with the average price being over $5,000. This ring is viewed by many couples as a symbol of love and commitment, so it is an expense that many simply choose to take upon themselves despite the exorbitant prices. However, there are several things you can do to lower the costs before you propose.

• Use a family heirloom- This is often a very inexpensive option. Many families pass down engagement, wedding, and anniversary gift rings through the generations.  Even if you have to pay a jeweler to restore the ring to its former glory, it is often far less expensive than purchasing a new ring. Check with your immediate and extended family who might have a connection to one of these heirlooms.
• Purchase a used ring- Many jewelers and internet marketplaces sell used and restored rings for far less than the original price. Be sure to research the seller (especially if you make the purchase online) to ensure the security and quality of the ring. Ask to see the ring's certificate of appraisal from the seller before making the purchase.
• Find an antique or vintage ring- These rings are also often less expensive than a brand-new ring. Again, many jewelers and internet marketplaces sell these rings, and be sure to ask to see the ring's certificate of appraisal to make sure you are actually getting what you are paying for.
• Choose an alternative gemstone- While diamonds are the most popular choice, using a different, less expensive stone can make your future fiancé's ring stand out from the crowd. For example, using her birthstone can make her ring meaningful and unique. Make sure to research the quality of these alternative gemstones so you do not pay more than you bargained for.
• Buy a ring with a lab-grown diamond- If you are still looking for a brand-new ring with a traditional diamond, then look for lab-grown diamonds, which can cost up to 50% less than natural diamonds. It is a great way to get the classic look without the classic costs.

One of the simplest things you can do to lower wedding costs is to shorten your guest list. Planning a more intimate reception for family and close friends can immediately save you money on invitations, food/catering, even decorations and the venue.

Couples tend to overspend on these. Do not worry about sending elaborate invitations that must be shipped in a package. Instead, stick to traditional paper and do a lot of comparison shopping to get the best price. In some cases, DIY invitations can save you money. Reach out to talented friends and family who would be willing to help you create them.

Many of us know someone who is a professional photographer, even if they do it just as a side job. Whether it is for your engagement photos or your wedding day, reach out to your talented friends and family. Many will give you a discount on their photo packages. If you end up choosing a photographer outside your inner circle, select their smallest photo package at first, with an option to upgrade if you change your mind. Do not hire your photographer past the cake-cutting and bouquet toss. You will likely just get repetitive photos of talking and dancing after that. If it is a more intimate wedding, do not hire a second photographer.

The venue is often a very heavy cost in wedding preparation. Here are some things you can do to get more bang-for-your-buck from your venue.

• Use a family member's or friend's property- You may have family or friends who would be willing to offer their backyard to host your reception for a low price. Be sure to check with them well in advance before you schedule your reception.
• Change the date/time- Having your wedding on a Monday-Friday could save you a large portion of your venue budget. Saturdays tend to be the most expensive. December and June are also the most popular months for weddings, so if you choose a different month, you have a better chance to negotiate prices with vendors. Having a morning or afternoon reception can also save you hundreds.
• Go outside- An outdoor reception at a park or beach is far less expensive than reserving an indoor reception hall.
• Get complimentary furniture- When considering a venue, check what furniture like chairs, tables, etc. they provide. You do not want to have to pay extra for rental furniture from a third-party vendor.
• Get a list of all potential fees- Ask your vendor for a list of fees they may charge for certain circumstances, along with their basic rates. You do not want to get any unexpected costs.
• Use your neighbors- Ask your vendor what special events are scheduled immediately before and after your reception. You can often use those events' special equipment (curtains, lighting, etc.) for free or at a discounted price.

For many brides, this is one of the most important wedding expenses. However, there are many ways you can save and find your dream dress. This article from The Fiscal Times can help you in your search.

While it is more and more common for the groom to wear a suit, many men still prefer the traditional route of wearing a tuxedo for the big day. If you need a tux, consider renting or purchasing a used one rather than splurging on a brand-new one. If you would rather wear a suit, you can often purchase them for almost the same price as you would pay for a tux rental (and you can re-use the suit for job interviews, church, and other formal events to get more for your money).

Purchase your flowers in-season. Purchasing them off-season will cost you far more. If your favorite flower does not bloom at the time of your wedding, search for similar flowers that are in-season for your special day.

This is an expense that seems, at first, almost completely contingent on the length of your guest list, but there are also several other ways to save on your wedding food. First, ask yourself what kind of setting you would like for your reception? Scaling down from a full-size banquet to a dessert buffet will instantly lower your food costs. Depending on the size and setting of your reception, you might even be able to avoid catering costs. However, if you do need to have your reception catered, try to keep the staff as low as possible. Also consider the kind of goodies you are providing. For example, using gourmet candy to supplement the baked goods at your dessert buffet can add a charming touch to the table and save you time and money.

A simple way to save money and still have a beautiful cake to cut at the ceremony is to have your baker create simple sheet cakes to serve your guests from the back. Then have a smaller, decorative cake for the cake cutting.

Many brides tend to peruse Pinterest for its seemingly inexpensive "Do-It-Yourself" wedding decorations. While it may seem like a big money-saver at first, going overboard with DIY decor can actually cost more than purchasing pre-made decorations. Look for decorations online and at local craft stores to find these options that will save you time and money. You can also purchase used decorations from wedding vendors at a great discount to you. However, if you are set on going the DIY route for your wedding, make sure you find simple projects that go a long way rather than creating elaborate things which require a lot of time and expensive materials. Reach out to talented friends and family for their help to save time.

If you would like a live performance, reach out to the musicians among your family and friends. Chances are they know other musicians who could perform for your big day and they might be willing to do it for free or a discounted price. If you do not know any musicians willing to perform, look for a talented local band that has not made it big yet since their prices are usually fairly reasonable. If live music is not important to you, then make your own playlist to stream at the venue.