Did you know? Average wedding cost in SA is R80 000
TIp # 4 - Choosing a week day or Sunday wedding could save you up to 50 percent of your venue hire.
The average cost of a wedding in South-Africa currently runs between R70 000 and R80 000 for 80 to 100 people and can easily escalate to R200 000, according to professional wedding planners.
The costs involved in planning a wedding can become quite stressful.
“This can cause needless frustration and push couples towards taking out unnecessary debt,” says Lezanne Human, CEO of FNB Savings, Investments and Fiduciary.
Here are some tips you can follow to save for your big day (Tips by FNB):
- Outline all expenses involved
Outline your wedding’s must-have items.
Ensure that you include everything from the Lobola, venue, wedding attire, food, cake, car, photographer or flowers. This will give you a clear picture of your total cost and influence how you prepare your savings plan.
- Open a savings or investment account
Now that you know how much you will need to save, open a savings or investment account specifically for your big day.
Banks offer a number of cash savings and investment accounts that are suitable for saving towards a special occasion.
Interest rates are also currently high, so not only do the returns increase on the same capital invested but if those returns are re-invested along with the capital, the compound interest increases significantly.
- Cut costs and go DIY
Make it fun and do it yourself.
Make your own invites, buy or create venue decorations if it is feasible. Get a family member or friend to bake the wedding cake, this can save you money.
There are a large number of websites that can give you great DIY wedding ideas.
- Picking your wedding date
Venue hire will usually be your biggest cost and it will be considerably higher if your date is a Friday or Saturday.
Consider choosing a week day or Sunday wedding, this could save you up to 50 percent of your venue hire.
- Shop around
When deciding on which suppliers to use, don’t just pick the first supplier you find.
Take the time to research, get quotes from multiple suppliers offering the same service and choose according to your budget.
By just devoting some time to getting quotes from different suppliers you may potentially make a saving.
Once you’ve had your beautiful wedding, don’t forget to start saving for the next big milestone in your life, like a house, extending your family or even a holiday.
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