While wedding ceremonies and the celebrations that follow are times for rejoicing, if you’re not careful, your dream day could turn into a financial nightmare!
Want everything to run smoothly and to avoid unpleasant surprises? Do your budgeting.
According to Cindy Laverdiere, a journalist and fashion and beauty blogger, wedding planning should begin 9-12 months before the actual date.
To motivate yourself against making mistakes, you should remember that “getting married only happens one day in your life”, adds Laverdiere, who, when speaking with ClearFacts.ca, was in full preparation for her own wedding.
“As soon as the word ‘marriage’ is mentioned, costas start going up,” she says. “That’s why it’s important to decide what is really most important to you. Is it the dress? The reception? What is your focus?”
Useful tip: Beware of “extras”, which can include an easy extra $200 for flowers on the chairs!
When it comes to marriage, there is no limit to the extent that people can take their celebrations. Therefore, it’s important to establish your formula from the outset.
Typically, you have a choice between two basic formulas:
By choosing the second option, Cindy Laverdiere points out that “it will not cost you much at all and, for your guests, it will be like eating out at a restaurant.”
Once you have your formula down, it’s time to start working on your budget. Here is a list of expenses that should be taken into account:
If you rely on financial contributions from your guests, be sure to spread the word so that everyone knows how to proceed.
Cindy Laverdiere notes that one good way to share that information in a classy manner is to ask the maid of honor, or another trusted person, to speak to your guests.
If you think that you may have forgotten something, don’t worry…everyone does!
For more information:
Any reproduction, in whole or in part, is strictly prohibited without the prior written consent of National Bank of Canada.
The articles and information on this website are protected by the copyright laws in effect in Canada or other countries, as applicable. The copyrights on the articles and information belong to the National Bank of Canada or other persons. Any reproduction, redistribution, electronic communication, including indirectly via a hyperlink, in whole or in part, of these articles and information and any other use thereof that is not explicitly authorized is prohibited without the prior written consent of the copyright owner.
The contents of this website must not be interpreted, considered or used as if it were financial, legal, fiscal, or other advice. National Bank and its partners in contents will not be liable for any damages that you may incur from such use.
This article is provided by National Bank, its subsidiaries and group entities for information purposes only, and creates no legal or contractual obligation for National Bank, its subsidiaries and group entities. The details of this service offering and the conditions herein are subject to change.
The hyperlinks in this article may redirect to external websites not administered by National Bank. The Bank cannot be held liable for the content of external websites or any damages caused by their use.
Views expressed in this article are those of the person being interviewed. They do not necessarily reflect the opinions of National Bank or its subsidiaries. For financial or business advice, please consult your National Bank advisor, financial planner or an industry professional (e.g., accountant, tax specialist or lawyer).