At the start of the year, some of us had big plans and milestones in store for 2020. Whether that be a big European holiday with friends, taking the family on their first camping adventure or even… getting married.
If your wedding plans have been put on hold, we know this is a lousy position to be in. With so much going on in the world around us, try not to let this time dampen your excitement for your special day.
With the extra time now up our sleeves, it’s a good opportunity to do some quality wedding planning. Tick off some big-ticket items or do some re-adjusting of your budget so you’re ready to pop on your wedding shoes when everything settles and we’re allowed to celebrate with our loved ones again.
Start (or re-evaluate) your budget
If you’ve already started planning your wedding and have had to re-schedule or postpone, take some time to re-evaluate your budget. You might want to simply check that you’re still tracking well and are on target for the big day, or you might want to adjust your budget and costs if your financial position has changed over the last few months.
If you’ve only recently put a ring on it, congrats! Now’s a great time to plan your budget and work out exactly what you need to pay for and how much you plan to spend (so you know how much you need to save!). As a starting point, consider putting together a list of high and low priorities. That way you can work out where you can cut costs, or where you can allocate additional money to make your wedding day extra special.
Set up a wedding account
Consider opening a dedicated savings account for your wedding so both you and your partner can keep track of the money coming in and out. Use the account to build up your savings and take advantage of any bonus monthly interest. Reviewing your statements can help keep you on top of your budget and let you know if you’ve paid more than you should for those bombonieres or the caterer.
Plan what you can
While you are staying home and prioritising your health, don't sit idly. Use your current time at home to start preparing the items that aren’t time sensitive. This could include preparing your guest list, music and designing your invites. You could even work out your table plans.
You could also use this time to put together a list of suppliers you’d love to work with and source some quotes to help with your budgeting. Think about the ceremony location, reception venue, catering, photography and flowers. It’s worth getting a few options both to compare prices but also to have back up options if your first or second choice isn’t available on the day you want.
You could also use this time to do some online window shopping for your bridal party outfits and your wedding dress or suit. Even a simple Pinterest board is a great way to get inspired and start preparing for your special day.
Postpone, don’t cancel.
If your wedding plans have been put on hold and you already have suppliers booked in, check to see if you can reschedule rather than cancel. You might be able to avoid losing your deposit. Check all your contracts and look out for rescheduling, or cancellation clauses. Contact your venue and then work your way down the list of other vendors. Be mindful that each business will have different terms and conditions.
At the end of the day, the most important thing right now is to stay healthy and to keep both yourself and your guests safe. Do what you can during this time but also don’t feel pressured to get everything planned and sorted. Start slow and enjoy the time you have being engaged and spending quality time with your partner.
This article is for information only and is not intended to provide financial product advice. Any advice is general and does not take account of your objectives, financial situation or needs, so you should consider if it is appropriate for you. Before acquiring any products from us you should read the product disclosure statement or other applicable disclosure documents and terms and conditions which are available on our website.