- So, when it comes to throwing some great parties,
those were some great tips,
but the biggest party you're probably
ever gonna throw is your wedding day.
Yep, the wedding.
Now listen, people on average in America today
are spending $35,000 according to TheKnot.com.
Some of you are probably like, "What?"
And others of you are like, "That's it?"
But yes, that's it. That's the average.
So, when you're looking at your budget,
when it comes to your wedding, because you need a budget,
here are just some really high-level,
recommended percentages.
And again, recommended percentages. You can change these,
just recommended when it comes to this whole industry.
Your reception, you're probably going to spend around 55%
of your budget. Yep. The dancing, the bands, the DJ,
the food, the venue, all of it. Expensive.
More than half your budget. The ceremony, around 12%.
Photography, 10%. A wedding planner, 10%.
Now the wedding planner is one if you're on a super tight
budget you can cut, but it's amazing to have one because
you don't have to be the bad guy on your wedding day.
Some other lady's telling every Uncle Henry to get in line,
and it's not you doing it. So it's great to have if you can.
Your dress and tux will be about 8%.
Have a miscellaneous category, because you never know
what's going to come up, and make that about 5%.
So again, high-level look at your budget.
But for those of you on a super tight budget, here are
some great ways to save money when you're
planning for your wedding.
Number one: Limit your guest list. And this is a hard one.
I remember even with our wedding, we were like, "Yes, let's
"invite all these people. It's so fun," and then you start
looking at the money and you're like, "Oh, every person is
"so expensive."
And it got so bad, you guys, to the point that when people
declined to come to our wedding, we were like,
"Yes, oh thank God." I mean, it's kinda bad.
But listen, limit all of the stress and just limit
the guest list.
Number two: Host the ceremony or reception at home
or outside. This makes the venues really inexpensive,
unless you're going to some really fancy vintage barn
now, like everyone's doing a lot of weddings outside.
Those venues can get really expensive.
So when I mean outside, I mean a free field
or someone's backyard.
Some of our best friends got married in her backyard, and
it was so great. They strung lights up, and it was perfect.
It was so good, and you don't have to pay for a venue.
Number three: Ask friends and family to exchange skills
for presents. Now this is a great one if you have really
creative friends because I understand that it can get
uncomfortable to ask people to do it.
So if you're uncomfortable with that, don't.
But you'll find that a lot of your friends and family,
if they're good at something, they're gonna offer and be
like, "Hey, I would love to help you with this."
And maybe they won't do it completely for free,
but you can for sure get a deep discount.
Number four: Do it yourself whenever possible.
Don't go over the top, cause you actually can spend a lot
of money doing DIY projects. So be wise
with it and look and see okay what are some small things
I can do on my own, inexpensively.
Number five: This is one of my favorites—
use a dummy wedding cake. Okay, I didn't know about this
when I got married,
and I wish I had. But so many weddings we're going to now,
it's a beautiful cake, and the top part where the bride
and groom cut or in the middle, is real—but that's it.
And then they have sheet cake in the back that they go and
serve people, and it's so inexpensive so you're not
spending a ton on wedding cake.
Number six: Time your wedding wisely.
If it's over a large meal, like over dinner, you're going
to be spending more on food, so think about what time
your wedding is gonna to be.
Number seven: Scout out vendors. So,
go get prices from two or three different people.
If you have photographers, say, "OK, I'm going to price out
"three different photographers and the packages they have."
Or "I'm going to look at two or three wedding venues
"and look at the prices."
So, scout around and look, and hey, it's never a bad idea
to ask for a deal.
You can negotiate sometime.
So, ask for that deal, and make sure you
scout out those vendors.
So for all you newlyweds out there—
or even if you're not a newlywed, maybe you've been
married for 30 years—one of the best pieces of advice
I can give you when it comes to your marriage is to take
Financial Peace University.
This is the best course because what you're going to do is
you're going to learn everything about money.
We talk about budgeting, getting out of debt,
getting on the same page with your money,
talking about real estate, and even things like insurance.
You learn it all.
But insurance is a really specific one that's really
important because having term life insurance is something
that you can't afford not to have. Winston and I,
we personally trust Zander Insurance.
They're great because they shop around, and they'll get you
the best rates possible. And they're not expensive.
So, for example, the average 30-year-old male pays around
$24 a month for $500,000 in coverage.
And you ladies, it's even cheaper for you.
So, for more information about Financial Peace University
or Zander,
make sure to clink the link below.