9 Tips to Negotiating Prices to Increase Your Wedding Budget
9 Tips to Negotiating Prices to Increase Your Wedding Budget
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Setting up a Wedding Budget can be stressful, and if your budget is on the conservative side, you may be wondering how to get the most from your money and how to successfully negotiate prices with your wedding budget. Luckily, with a little creativity and practicality, you can have your dream wedding without overspending. Here’s a few quick tips on how to get the most from your wedding budget:
Increase Your Wedding Budget
When deciding on your wedding budget, and particularly for the reception, we advise making tiered lists. Tier 1 should be the “absolutely must have” list. Tier 2 would be the “would love to have it if the budget allows” list. And Tier 3 should be the “we can live without it” list! To start make a list of what the bride and groom want most, then move on to what any other VIPs (like parents) might desire. If you don’t know what your priorities are yet, you can breeze through this blog post to help you figure out what’s most important to the two of you: Create a Vision for your Colorado Wedding
For Tier 1, Make a list right away of the non-negotiables, then for Tier 2 a list of the wants but not needs. This communication will help both sides of the aisle cooperate and hear what’s important to each person and most importantly the bride and groom. Remember, it is your day as a couple, and although parents and family are important, negotiation is sometimes needed to make smart decisions. A collaborative document, like Google Docs or Google Sheets, could help everyone contribute to your wedding budget if you can’t meet face-to-face. You can make changes to it as well in real-time, which helps if parents/family are long-distance. However you decide to collaborate, doing so will make wedding budgeting more smooth for everyone. Lastly, make a join decision on the items that just aren’t possible and label those “Tier 3”!
How to Negotiate Once You Know Your Wedding Budget
Negotiation is the key to stretching any wedding budget! Maybe the bride really wants centerpieces, but does not care much if the flowers are real. This could save a couple thousand dollars on something guests may not care about and allow room in the budget for other Tier 1 needs. Don’t really want a cake? Maximize your dollar with pies from a bakery that are pre-cut, and you save some money on cake-cutting costs. Don’t really care about all of the little things that add up like wedding signs, guest favors, fresh flowers for centerpieces, then take that money and spend it on other more important things to you both. Keep in mind, making money saving decisions will open up areas of the budget that will allow Tier 2 items to make their way to Tier 1…
Here are the Wedding Budget Negotiating Tips
There are ways to negotiate prices with wedding venues and wedding vendors, especially if you choose an off-peak month to book your wedding.
- All-inclusive packages offer more value for your wedding budget: Many wedding venues offer wedding packages that include multiple services at a discounted rate because they include professional services from DJ’s, wedding photographers, in-house catering, etc. The reason these packages provide you with more value is that the vendors offer the venue discounted rates due to the volume in business the venue brings them. Therefore, the venue can pass those savings onto you.
- Research and Compare: Before you can think about negotiating, without insulting a professional, do some research on the average prices for Wedding Venues in Colorado, as well as other professional wedding services you’re interested in. This will give you a benchmark to work from and helps you identify reasonable pricing, and a better way to compare. However, keep in mind that price is not the only consideration when choosing the very best option for your once-in-a-lifetime wedding day. Think value first. Sometimes you get what you pay for, and you don’t want to take risks on this very important day.
- Be Reasonable and Professional: Approach negotiations with a friendly and professional attitude. Remember, wedding vendors are running a business, so being respectful will help build a positive relationship. It can be common for brides to assume just because prices are expensive, that they are being ripped off. With inflation and high labor costs, the wedding industry has to constantly battle increased costs of labor and supplies, with making a profit on each and every service to stay in business.
- Ask Questions: Understand what is included in the vendor’s pricing and ask if there are any areas where adjustments can be made. For example, you might ask if they can reduce pricing for less hours, fewer items included that you don’t need, and off-peak months.
- Highlight Your Needs and Wedding Budget Priorities and Contraints: Clearly communicate what you’re looking for and your budget constraints. Wedding vendors are more likely to work with you if they understand what you are working with, and they may be able to offer you a discount if they have a very slow month. You may not know that in advance, but if you’re willing to budge a little on your requested date, it can be a win-win for all parties.
- Consider Non-Monetary Incentives if a wedding vendor can’t lower their price: If the vendor is hesitant or cannot lower their price, see if there are other ways they can add value to your package without reducing the cost, such as including extra hours of service or additional products.
- Timing Matters When It Comes to Maximizing Your Wedding Budget: If you’re willing to book your wedding at a venue for a date that is only 9 months out or sooner, there is a lot more room to negotiate, as it’s always possible a vendor can go without a booking on a specific night. The wedding vendor may also be having a slower month in bookings than expected, and would be willing to take on a booking for a lower profit. Vendors may be more willing to negotiate if they have availability and want to secure your booking.
- Get It in Writing: Once you’ve agreed on pricing, the discount amount, or added value services they said they would include, make sure to get a contract that outlines all the details. This helps avoid any misunderstandings later on.
Be Aware of Payment Terms They May Require as a Compromise on Reducing Their Rates: Discuss payment schedules and terms upfront. Some vendors may offer discounts for paying a larger deposit upfront or for paying in full early.
By approaching negotiations with transparency, respect, and a clear understanding of your needs and wedding budget, you can increase your chances of securing favorable pricing from wedding vendors.
A Conservative Wedding Budget Doesn’t Mean You Can’t Have What you Want
Just because the bride and groom are on a budget doesn’t mean the wedding cannot be meaningful and enjoyable for everyone. When planning the evening, plan for time slots that need a “wow” factor. This is where you want your non-negotiables to be. Maximize your time with the important parts of the reception like a slideshow, any traditional dances the bride/groom and parents desire, or toasts. Capitalize on any talents or interests you and the bridal party have that could be memorable and entertaining for guests! Choreographed dances, musical performances from members of the bridal party, etc. are very fun and will also make for great photographs when you’re reminiscing. Because you are able to focus on the important parts of the wedding to you, your guests will appreciate how personal it is—just because a wedding is extravagant doesn’t mean guests will enjoy it.
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Prioritize your Wedding Budget
Prioritizing your resources and time lends to staying within your wedding budget and getting the wedding of your dreams. If you plan out the evening well, it won’t feel sparse and you will have a memorable time with friends and family who are there for all the right reasons—to celebrate you and your new spouse.
Want more wedding budget ideas and tips? Check out more here:
65 Ways to Stretch Your Wedding Budget without Giving Up the Luxury
Important Wedding Budget Dos and Don’ts
Here Comes The Guide Ultimate Wedding Budget Checklist