Planning a wedding on a budget is notoriously stressful and hard to pull off, no matter when you do it. But with wedding costs still extra-high these days and continuing to grow, many soon-to-be-wed couples are facing last-minute sticker shock and scrambling to make do with limited budgets and spiraling expenses.1
According to The Knot's Real Weddings Study, more than half of recently married couples who said they felt squeezed last year by higher prices coped by either pushing up their wedding budgets or downsizing their celebrations.2 And this year, over 60% of engaged couples said in January that the economy was already impacting their plans.2
If you, too, are getting married soon, odds are you have already planned for and booked much of your big day. But that doesn't mean you are out of luck or doomed to debt if your wedding costs are ballooning well beyond what you predicted.
How to Cope When Your Wedding Budget Is About to Burst
Don't panic. Even if you're short on time, there are still plenty of steps you can take right now to right-size your wedding budget and shrink at least some of your expenses.
Rather than borrow what you can't afford, you're better off reimagining your wedding budget and retooling what you can. To help you brainstorm, here are some proactive tips, last-minute ideas and emergency steps to ponder as you plot a more financially responsible (and hopefully less stressful) path forward.
Reassess your wedding budget
If you've been planning your wedding for a while now, your estimated costs have probably changed a lot since you first looked into them. With prices still rising on many goods and services, a vendor's quote from a while ago may no longer be accurate. Similarly, administrative and add-on fees could have also jumped since the last time you checked. According to a recent survey by Zola, vendors are encountering higher labor and material costs themselves, and some are coping by hiking prices more than usual.3
To ensure you aren't surprised by inflation-related markups or outdated quotes:
- • Fact-check old estimates: Comb through your wedding budget and highlight any expenses you have yet to pay. Then put on your fact-checker hat and reach out to vendors or check online to make sure old cost estimates are still up to date.
- • Add it all up: Don't forget to also look beyond a vendor's advertised prices and add up any taxes, service fees, gratuities and other expenses you expect to pay.
- • Shop around: Even if you're committed to a favorite vendor, it's still worth checking into whether their prices are competitive. If you find another vendor offering a similar quality service for less, you may be able to push for a better deal.
Once you've determined how much your remaining expenses will likely cost, you can then start examining your budget with a more critical eye. For example, do you really need two wedding cakes or fancy boutonnieres? Can you make do with a less expensive dress? (For example, you may be able to shave some important costs by choosing a wedding dress that hits at the knee instead of the ankle.) Perhaps you can make some last-minute swaps or trade in a pricier purchase for something more affordable.
Scale back remaining wedding expenses
If you've already signed multiple contracts and put down big deposits, then putting a meaningful dent in the costs you have left over will be challenging—but not impossible. Take it from the many budget-minded couples who have come before you: even your biggest wedding expenses—such as the care and feeding of your guests—can be rolled back significantly in the weeks and months before your big day.
According to Zola, some of the most popular budget changes couples have made previously include trimming the guest list and trading paper-made communications for digital.3 Similarly, a number of couples told The Knot that they saved money, in part, by adjusting their wedding plans and expectations, nixing upgrades and bargain-hunting.2
Here are some tips for scaling back your wedding expenses quickly:
1. Pare down your smallest splurges
Start by looking for low-hanging fruit that won't noticeably affect your wedding's comfort or enjoyment. For example:
- Shop for value: Call your florist and ask if you can change your previously chosen foliage to something less expensive, such as in-season flowers that can be bought in bulk or greenery that can be used as eye-catching filler.
- Ask for less: Reach out to your wedding cake vendor and ask if you can switch to a more affordable dessert package—perhaps by substituting cupcakes and dessert cups for a larger cake or by reducing the number of cake tiers you order.
- DIY: Consider switching to handmade for some reception details, such as centerpieces and wedding favors. Be aware, though, that DIY isn't always less expensive: craft supplies can quickly add up.
2. Cut out pricey extras
Simplify your wedding budget by writing down every "nice-to-have" expense you hoped to include. Then use your extras list to prioritize and cross out what you can.
For example, instead of a pre-wedding facial, opt for an at-home skin treatment. Or substitute a group dinner or spa trip with a DIY party or pre-wedding potluck. Similarly, consider renting your wedding dress or groom's attire or shop secondhand.
Some other nice-to-have extras that are worth reconsidering include group activities for out-of-town guests, personalized wedding favors, an open bar or plentiful dinner menu, premium dinnerware, live entertainment or any service that you or a loved one can do.
3. Appeal for help
Consider asking loved ones to shoulder some of the logistical or financial burdens of your fast-approaching wedding. You could be surprised by how willing they are to help. For example:
- • Ask your pickiest guests to chip in: If a family member is pressing you to upgrade some wedding details or invite more people than you can afford, explain your financial situation and ask if they can help cover the expense.
- • Crowdsource funds or services: Check if loved ones would be willing to crowdfund the wedding's food and entertainment or volunteer their services (like playing DJ or photographer!).
- • Cut your wedding party or guest list: Review who has RSVP'd and have some heart-to-hearts. Participating in a wedding can get pricey, too, so some guests may prefer to support you from home, leave early or skip bringing a plus one.
4. Negotiate with vendors
Your vendors are likely hurting from inflation, too. So they may not have much room to negotiate—especially when it comes to the goods and services you already ordered. But you may be able to score a last-minute discount if you're willing to make concessions on what you get or if you can demonstrate to a vendor that their prices aren't competitive.
Alternatively, your vendors may be willing to alter or downsize your previous order so that it's a better fit for both parties' budgets. Ask if there are any trades you can make that would be less costly to produce or if certain substitutions would offer more value.
Some wedding vendors offer all-inclusive packages that are a great deal, allowing you to simplify and consolidate your orders.
5. Declare an emergency
If you've trimmed as much as possible, but you still can't make the numbers work, then it's time to consider more drastic action. Review your contracts and see how much flexibility your vendors offer.
Can you delay your wedding and pick a more affordable date? Off-season weddings are often less expensive than summertime and early fall events. So are weekday and Sunday weddings, as are events held in the morning or early afternoon. Moving your wedding to a time or date that's in less demand could save you a bundle.
Alternatively, you may want to cancel your plans altogether, trade or sell old purchases, elope or throw a micro wedding. Just be sure to think through any changes carefully and factor in the financial consequences that could result from last-minute cancellations.
Leverage Payment Tools, Such as Credit Cards, for Extra Protection
Don't borrow more than you can afford to swiftly repay. But do use the tools you have available to make secure—and possibly more rewarding—purchases. For example:
- • Make safer purchases with a credit card: Pay for deliveries and vendor services with a credit card when possible so that you are protected if something goes wrong. Thanks to the Fair Credit Billing Act, you have the right to demand a refund if you are billed incorrectly or if a vendor doesn't deliver what was agreed.4Just make sure you dispute billing errors with your creditor within 60 days of the bill's date.4
- • Request a chargeback if you've been wronged: The Fair Credit Billing Act also protects you from unscrupulous vendors who refuse to refund you after failing to provide the goods or services they promised.4 But you may need to reach out to the vendor first before your card issuer will step in.4
- • Dispute unauthorized charges: Beyond the Fair Credit Billing Act, a credit card issuer may also offer additional cardholder protections, such as fraud alerts and zero liability in the event your payment details are stolen.
Also consider using other financial tools, such as a high-yield savings account or money-market account with check-writing privileges, to boost your wedding's savings.
The Bottom Line: You've Got This!
Although it can be tempting to look away when you see costs climb and plug widening gaps with additional borrowing, you could regret that strategy once you've said, "I do." Regardless of whether the economy is booming or deteriorating, the last thing you need is to weigh down your marriage with a financial hangover that isn't worth the pain.
Kelly Dilworth is a business and personal finance reporter, specializing in the intersection between money and life. She has covered consumer banking and lending for more than a decade and particularly enjoys writing about consumer behavior and psychology, new consumer research and how everyday banking products impact people's lives.
READ MORE: A Single Woman’s Wedding Fund Strategy: Meet a Super Saver
Sources/references
1. U.S. Bureau of Labor Statistics
2. The Knot
3. Zola