(Photo: LINGSTUDIO®/Flickr/CC BY)

Planning a wedding doesn’t have to require ridiculous amounts of money. In fact, there are many simple ways to plan a wedding on a budget without breaking the bank or needing a last minute cash advance. Whether your limit is $500 or $5,000, with these wedding planning tips, you can have a beautiful inexpensive wedding with memories that will last a lifetime.

Plan a wedding on a budget by cutting the guest list

To really plan a wedding on a budget, one of the first places you should look is your guest list. Cutting down the number of guests can greatly reduce the amount of money spent on caterers and food, among other costs. Each time a name is added to the list, you’re adding more tension to your budget. So don’t be afraid to skip inviting those you haven’t seen in ages or ones you can’t stand to be with for more than a minute. Don’t worry about hurting anyone’s feeling; it’s you, your wedding and your budget that need the pleasing.

Save money on a wedding dress

One of the main highlights of planning a wedding is choosing the right wedding dress. However, for those who are planning on a budget, it can get pretty overwhelming. So before you settle on a wedding dress and apply for a cash advance to pay the difference, consider your options. You can save big by shopping around and comparing prices online. There are many websites that offer a variety of wedding dresses that won’t put a hole in your wallet. And for the brides who don’t mind, perhaps renting a dress is right for you.

Wedding date and location

Where and when you have your wedding will also determine how much you spend and how much you save. The best time to plan a wedding on a budget is during off-season months, which vary depending on your regional climate. For cold-weather states, off-season savings kick in during winter and vice-versa for places with warmer climates. Planning an off-season wedding can save you big bucks because many wedding vendors are out hunting for business and are willing to offer great saving deals to draw you in. Also, the wedding location doesn’t have to be at a lavish club house or hotel. Check out local restaurants, parks and even your community college and compare prices.

Save money on food and drinks

Don’t be afraid to ask your caterer for the least expensive entrees. Would a buffet cost less than a seated dinner? Can you skip the main course and stick with just drinks and appetizers? Can you serve only wine and beer instead of having a full bar? Food costs take up a large portion of the budget, so don’t hesitate to make changes to the menu if needed.

The Knot website discusses everything from venues to dresses. Image from Flickr.

The Knot is one of the web’s biggest wedding destinations. The Knot’s website and other media are all about The Big Day,  and today The Knot as a company is having a Big Day of its own. The Knot’s stock has been upgraded to a “buy” rating. So should you include purchase of The Knot stock as a part of your quick cash wedding plan? Maybe, maybe knot.

The Knot media company

The Knot is a publicly held media company. The Knot owns The Knot magazine and websit, which are targeted toward engaged couples and newlyweds. The Knot also owns The Nest, a sister brand that targets new parents. The company also owns Gift Registry 360, an online gift registry service. It is also working to produce The Knot TV, a TV station focused on engagement, weddings and new families.

The Knot financials

The financial reality of The Knot, like many weddings it features, is quite large. Advertising revenue alone brings in about $14.5 million every quarter. Operating expenses for the company are about $21.8 million per quarter. The gross profit margin is about 78.8 percent for The Knot. In short, The Knot is doing well – and its stock prices show it. In February of this year, The Knot stock experienced a drop in price from almost $10 a share to less than $7.50 a share. The price of The Knot currently sits at $8.28 per share.

The Knot ties itself up?

Of course, one would think that because The Knot has tied itself up in weddings and new families, it has limited itself as a media company. The reality, though, is that weddings are big business. The average wedding in America runs about $25,000 to $30,000. This is big money for many companies that want to target the market – so the market The Knot caters to can pull in big advertising dollars. At the same time, The Knot is expanding both the type and focus of its media offerings. Additionally, The Knot is trying to expand its focus to catch more of the low-budget, offbeat style weddings that are becoming more popular. No matter if you love or hate The Knot, as a company, it is definitely doing well in its chosen business.

The wedding planner

The wedding industry is a $120 billion industry, with the average wedding costing $27,000. Although wedding planners used to be solely for the affluent, lately they are much more mainstream, playing parts in even the smallest wedding affairs. Shane McMurray, of The Wedding Report, stated that the growth in wedding planners can be attributed to people “waiting longer to marry and often they are too busy pursuing careers to plan their big day.” In addition, more people are trying to replicate what they see on TV and movies for their own weddings.

What to watch for when hiring a wedding planner

If consumers are in the market for a wedding planner, there are a few hints and tricks to choosing the right one.

1. Just because wedding planners claim to be professional doesn’t mean they will be. The reality is that people can call themselves wedding planners even if they have little to no experience actually doing it successfully. The best way to circumvent this issue is to do some research. The Association of Bridal Consultants and June Wedding are two societies that only promote certified planners.
2. Wedding planners should be willing to help the bridal family stay calm. As one wedding planner stated, “If someone comes to me and says ‘I want the perfect wedding,’ I’ll tell her she’s come to the wrong man. Things are always going to go wrong—but that’s why you need a professional.” A wedding planner should be able to handle problems without calling the bride or groom for every small detail. They should be intuitive enough to understand what the family wants and, short of a major disaster, handle it themselves.
3. Consumers should understand what level of service they are getting. Some planners commit to being there every step of the way. However, with the growing popularity of the industry, many planners overbook and make appearances at only the most detailed weddings. For a full-service wedding planner, expect to need installment loans or some extra funding because the normal rate for a full-service planner is 10-15 percent of the entire wedding budget.
4. Clients should ask the wedding planner how many weddings they are working the same month of their wedding. Tracy Ernst, a wedding planner, stated, “A consultant shouldn’t have more than two weddings in a month, certainly not more than three. (If the planner exceeds) that, they don’t stay in business very long.”
5. Couples should be aware that mixed-faith marriages can cost more. Wedding planner Heather Rohrer stated, “In our initial consultation, I’ll ask if there’s anything unique about a client’s wedding and that will open the door for added cost.” For example, she recently suggested to one couple custom yarmulkes. Of course, in the end, they were at an additional cost of $5 each. Research shows that dual-religion ceremonies normally cost clients an additional $10,000. One wedding planner suggested, “To minimize the tab, have a clear vision of what you want and communicate it at the earliest stages.”

Wedding planning in the future

Wedding planning can be a very helpful service if consumers know what to be wary of. Using installment loans, additional funding from family or an inheritance can greatly help the overall planning, but people need to have a clear, and rigid, budget. In the end, a wedding planner who is certified and comes with a few good recommendations can make an event as close to perfect as can be expected.

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