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MONEY matters

Mark Zaifman's thoughts on money, global economic trends and politics

Don’t let wedding bells ring in financial woes

Mark Zaifman   |    Mon, Apr 05, 2010 @ 10:25 PM

save money on your wedding

Need some tips on saving money while planning your wedding? It’s that time of year again when happy couples tie the knot, and the last thing on their minds is the cost of the celebration. 

Posted on the Financial Planning Association (FPA) website, this article gives sensible information that future brides and grooms may not want to hear.  Listed are some obvious tips such as setting a wedding budget and sticking with it and monitoring spending. The not-so-obvious tips like considering a destination wedding are much more interesting.

I thought this spending chart from CCS (Consumer Credit Counseling Services) could be valuable in the beginning stages of wedding planning.

Ceremony (location, fees, licenses)

3%

Receptions (location, food, cake, decorations)

48%

Attire (dress, tuxedo)

10%

Wedding Rings

3%

Flowers (bouquets, decorations)

8%

Music (ceremony, receptions)

8%

Photography (photographer video, prints)

12%

Transportation (shuttles, parking)

2%

Stationary (invitations, guest book, thank you notes)

3%

Gifts (for bridesmaids and groomsmen)

3%

Total

100%

Personally, my wife and I eloped and saved a bundle of money - but that's not for everyone. Check out Planning Your Wedding, Avoid the Hangover by Tara Scottino, and start off your marriage on the right financial track.