Due to Covid-19 restrictions, micro-weddings are big right now but as weddings get smaller, so have our budgets.
With many people suffering financial hardships dues salary cuts or job losses, many couples can no longer afford to have the lavish wedding they had their hearts set on.
Over the past year, some couples have had to postpone or cancel their weddings, losing out on deposits and venues they carefully picked.
For that reason, weddings have become more personal, focusing more on the shared experience rather than over the top aesthetics.
Maureen “Nono” Skosana, founder and chief executive of event planning company, Nono Events, says: “Given our Covid-19 restrictions where events are limited to 50 guests, micro-weddings are now massive. While the guest list and booze bill may have dwindled or disappeared completely, the cost to create an intimate but memorable experience has not.
“Some vendors are increasing their fees to accommodate complex logistics, inflation and to keep their businesses afloat. Also, when you buy or order in bulk, you save. That’s not the case anymore, which is putting pressure on the budget.”
Nono Events, with the help of Budget Insurance, have put together a guide to budgeting for a micro-wedding.
Their tips include:
Commit to a wedding budget
When you start planning your wedding, understand the state of your finances, then set an overall limit of how much you can spend and stick to it.
Avoid debt
Don’t go into debt to pay for the day. Similarly, you don’t want to dip into savings you have for a specific purpose such as a new house.
Package Deals
Select a package deal from one supplier if possible instead of using different suppliers. Be honest and discuss your budget with your preferred supplier. This will enable them to work out an appropriate cost-saving package.
RSVPS
Make sure that you have proper RSVP processes in place. This will help manage catering costs amongst other costs.
Know what things cost
Make a very detailed list that includes the venue, food, décor and drinks, down to nails and hair for the big day. Decide what you would like and find out how much these things cost. The more detail you put in, the better you can budget and plan, and see where you can save or cut.
Marriage is all about compromise
Start early and draw up a list of what will make your wedding memorable and special and what you could do without at a push.
“At a time where budgets are already stretched to the limit, couples need to ensure that they have their dream day without breaking the bank. Remember, the wedding is not the end, it is the beginning. The marriage is what counts. The best way to start a marriage is in financial health and with a commitment to building a secure future together.” says Susan Steward from Budget Insurance.