Nov 28, 2017
Not a prince or soon-to-be princess?
With the news that Prince Harry and Meghan Markle are set to wed next spring, the media and the Internet are abuzz with talk of horse drawn carriages and tiaras.
For most non-royal couples, weddings in general can be expensive, but future brides and grooms can take steps to plan their celebration without blowing their budget if they smartly choose where to save and where to splurge.
When planning a wedding, consider taking the following vows:
I vow to set a budget: The first step is to set a realistic budget with your partner that includes all possible costs, including attire, photography, catering, venue, décor and more. TD offers online saving and budgeting tools that can help you plan out your expenses.
I vow to shop around: Don't feel pressured to book the first venue or buy the first dress. Check out trunk shows and sample sales to find savings on attire, and consider renting a tuxedo or suit instead of buying new. Accessories like cufflinks or jewelry can also count as "something borrowed" while keeping costs down.
I vow to save where possible: Consider saving on décor by alternating between elaborate and tall floral centrepieces and simple, low centrepieces. Not only does this give variety to your space, it's also cost effective. In addition to décor, couples often splurge on food and beverage. Consider opting for a reduced bar during cocktail hour by serving only beer and wine or a passed signature cocktail.
I vow to think ahead: While a wedding is a monumental occasion, the marriage that follows is full of big financial decisions. Commit to being open and honest with each other about finances, and 'unpack' any financial baggage together.
Weddings are one of life's biggest milestones and can come with a big price tag, but through smart budgeting and savings strategies it's possible to celebrate the big day and start a new life together putting the right financial foot forward.
You might also like:What customers need to know about bank drafts