Weddings demand a lot of planning and if you’re looking to say your “I Do’s” in an exotic location, creating a destination wedding budget will be vital for your success. For most couples, the price is the most critical factor when deciding to plan a destination wedding. You will have the traditional wedding expenses — the ceremony, reception, wedding dress — but if you’re traveling for your vows, you may also need to factor in your guests’ costs. The right location and finely-tuned destination wedding budget are key to making your dream wedding a reality.
Put a Price on It
The key to following your destination wedding budget is to know what you are willing to spend. The Knot states that the average price for a domestic destination wedding (including the couple’s travel costs) is $28,372. Sound pricey? Well, don’t stress too much, the Knot also reported that local weddings could be up to $32,641. Planning a destination wedding on a budget is feasible. Once you have a firm dollar amount, it will be harder for you to overspend. One important detail is to decide if you are going to support travel costs for close family members.
Size Matters
When you’re trying to create your destination wedding budget, remember the more people you invite, the more it will cost you. Try to keep it a small gathering and focus on who you really want to attend. Including everyone on the guest list is risky, especially if it exceeds your destination wedding budget. Plan a smaller wedding from the beginning, to prevent surprise costs later.
Carefully Choose When and Where
Timing matters if you want to stay on budget. Prices tend to increase every year, so booking at least two years in advance will be in your favor — you’ll lock in the current year’s rates and have ample time to plan. When you pick your date, choose a date outside of the location’s peak season. The offseason times offer normal or decreased hotel rates and fewer crowds. If you stick with a small guest list, consider renting something through Airbnb, instead of booking rooms at a hotel for each of your guests, as this could save on costs.
Payment Options
Don’t overlook your payment method. One way to save is by opening a credit card that has rewards, like points or miles, for each purchase. When it’s time to book your travel, you could use some of those rewards to cover other costs. Saving up and planning for the big day can make it easier to follow your destination wedding budget. At DEXSTA, we want to give you the right tools for your financial future. Visit us online, or at one of our branches, we look forward to serving you.