Here are a few solutions to your wedding related financial issues so you can have that Pinterest dream wedding of yours!  

Written by Zainab Faizal


You’ve already got your dream wedding planned out. 

It’s got to be at an amazing hotel with an incredible view, it’s got to have an expensive menu, and it’s got to have gorgeous flowers and ceremony décor suitable for the season. 

We all know, after the romantic proposal, comes the actual wedding. And reality isn’t all great, because along with saying ‘I DO’, comes a considerable cost.

But the show must go on! 

“When clients come to me, they’ve already got an idea of what they want. They’ve got an image on their minds, inspired from the internet, Pinterest and other means and with requests to making that happen. However when it comes to spending or a budget, the wedding’s most important element, especially in Sri Lanka, would be the experience and guest satisfaction and for the client themselves to enjoy their big day. It could be an intimate sort of wedding with 70 – 80 guests, where it’s all about partying hard and a nice venue with minimal décor or we’ve got the high-end ones in pricey five star hotels. So the budget needs to be improvised according to what the client wants, however it’s all about the experience, a great follow up of entertainment and the look and feel of the reception. There needs to be proper food, especially since that is gonna be something the guests are gonna talk about, apart from the DJ or live band you hire. You need to prioritise your needs and focus on the most important elements, and make sure to stick to that and the budget. Planning is essential, and you cannot have a last minute mess up.  We know how we are bound to see new things down the line and this would mean not sticking to the budget; therefore planning, prioritising all give you the end result of an affordable and beautiful wedding” 
– Javin Thomas, 
wedding planner 

 

Here are a few solutions to your wedding related financial issues so you can have that Pinterest dream wedding of yours!  

Home equity

If you’ve got your own house or your own apartment, you have the chance of opting for a HELOC – a home equity line of credit, a rather inexpensive type of financing. These are called secured loans since they're backed by your home, with a chance that interest rates may be far lower than a usual loan. 

However, you might need to keep in mind that not every bank offers this service, so it’s best you do your research before taking this option. And do ensure that you pay up on time! 

Personal loans / wedding loans

It can be crazy paying for your wedding on your credit card, especially if you end up exceeding or topping your credit limit. Even if your parents did offer to pay or help you out, you do have to think of whether they can actually afford all your requirements. That’s when wedding loans comes in handy, the viable option, mostly because the interest rates and other perks are far more flexible than with a credit card. When you’ve got a wedding loan, you can plan out your financial course and end up with a beautiful and stress-free wedding.

You just might be able to have extravagant dress you’d always wanted instead of the other low budget one that makes you look ‘bleh’. 

Crowd funding your honeymoon

This basically refers to the practice of funding a venture by raising many small amounts of money from a large number of people, typically with the help of the internet. Although this option isn’t really common in Sri Lanka, it could be a viable choice for couples who don’t want to spend a lot on their wedding or couples who already live together and have all their home equipment and furniture sorted, and won’t benefit from a typical wedding gift registry. Instead of spending on a lavish wedding, privately share a personal campaign link, letting your friends and family contribute funds towards a fabulous honeymoon. Contributors could also have the option of remaining anonymous.

Would you rather have a box of drinking glasses or a beautiful candle lit dinner in Hawaii with your newlywed bride/ groom?   
 

Family & friends

If you’re lucky enough, you may be one of those couples who don’t have to think of financing your wedding yourselves, at all! You’ve got your family and friends to help make your day extra special! Your parents have been waiting forever for you to tie the knot, and they’d be more than glad to take out that secret cash they’ve been saving up for your big day!

And when it comes to friends, you might find a few of yours in the fashion, hotel and entertainment industry. I’m talking fabulous discounts for your reception, DJ and the wedding dress! 
 

Savings

Remember that savings account you’ve got? After paying off your college funds? That could come in handy right now!  

 

Winning the lottery

 
As unlikely as it sounds, you never know when you might be that millionaire! Be optimistic, I guess? 

Moving on from the options, let’s look at how much priority we should give to the wedding in relation the budget. 

Just like allocating your expenses for groceries, school, and clothes, you also need to allocate a set amount for your big day. It’s more like what to save on Vs what to indulge on. 

Here are a few statistics that’ll give you a general idea on how to allocate your budget! 

THE BREAKDOWN

Reception – 60 – 65% (because it’s the most important element) 

Ceremony – 1-2% (the church or Poruwa, wouldn’t have much of an expense. You exchange your vows and head over to the reception) 

Attire – 7 – 10% (you’re the centre of attention so of course you’ve got to look your best!) 

Flowers – 5 - 10% (depends on how much of flowers you’re gonna splurge on) 

Entertainment – 10 – 20% (you need to have fun so music and that DJ are important after a long day. Plus this makes the mingling with the guests all the better.) 

Photography – 10 – 12% (think 10th wedding anniversary and reminiscing over old photos. So yes this is a must!)  

Stationery – 1- 2% (as long as they get the invites) 

Wedding rings – 4 – 5% (depends on how important is this for you) 

Parking / transportation – 1 - 2% (most venues come with ample parking and you can get a decent car sorted out for a reasonable price. You could even borrow a fancy car from an uncle and scrap this cost altogether) 

Gifts – 2 - 3% (people are not here for the gifts you’re gonna give them. You DID invite them for your wedding so don’t go to crazy on the giveaways, if you’ve got a tight budget) 

Miscellaneous – 8 % 
 

Tip : Don’t forget to have a “just in case” fund, to help you out if you exceed your budget, and don’t forget the honeymoon!