Article Summary
- The article discusses the importance of proper planning and saving for a successful wedding ceremony, and highlights the potential financial pitfalls that can occur if couples fail to do so.
- It emphasizes the need for couples to have an honest conversation about their financial capabilities and to cut their coat according to their size, i.e., to plan a wedding within their budget.
- The article advises against relying on external sources for financial assistance and instead encourages couples to make plans based on their own resources and savings.
Apart from birthdays and naming ceremonies, one would argue that nothing else brings joy and unity celebration in families like marriages. Many single people look forward to a flamboyant wedding full of colour, with someone they love and probably live happily ever after.
Unfortunately, as with several fantasies we had when growing up we realise that beneath the fun and fanfare is real work. Behind the flamboyant wedding are months if not years of saving and intentional planning to make the occasion a success.
The saying, “he who fails to plan is already planning to fail” might have no better use case than in the context of a failed wedding ceremony. Shortage of food and drinks, faulty sound and lighting are just some of the several things that could go wrong.
Clearly, this isn’t some walk in the park and needs proper preparation for a hitch-free ceremony. Highlighted below are ways to save for the big day.
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Have the conversation with your partner:
The first step should be having a money conversation with your partner and understanding their own financial capabilities. You may be surprised to find out that your partner is more buoyant or had savings put aside for their wedding beforehand.
As the man for example, are you willing to shoulder all the expenses for the wedding? Are you an advocate for splitting financial responsibilities? Do you feel your partner’s family should render assistance in one way or the other?
These questions should be properly addressed with your partner. This is because having vague answers and expectations may lead to high hopes that could come crashing down.
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Cut your coat according to your size:
All fingers are not equal. In some extra flamboyant weddings, the cake alone is worth several millions of Naira. Ironically, this may be the entire budget of another wedding elsewhere. You may need to be objective, shove fantasies and daydreams down the hole and look at the reality on the ground.
Can you afford that expensive reception hall? Is hiring that live band within your budget? Is it absolutely necessary to wear the trending wedding gown?
Understandably, it is human nature to want to have a memorable wedding but common sense must prevail to ensure that we don’t slip into financial ruin as a result.
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Create an estimate or savings target:
Your wedding is in two years’ time. Apparently, the cost of goods and services would not remain stagnant in this time period but it is wise to have a rough estimate or at least some savings target no matter how vague. How many guests do you plan to cater for?
How much is the maximum amount of money you are comfortable with splashing on a wedding? How much is your current monthly income? Do you have savings to help start a home right after the wedding?
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Draft a savings plan:
From the figures of your estimate, your monthly and annual income and your expenses, you can draft a savings plan. For example, if you earn N500,000 a year with no current savings, then it is difficult t afford a N2m wedding in two years’ time.
Your estimate and your income must be in tandem. Remember that even if you manage to pull it off by running into debt, you have only made the first few years of your married life more difficult.
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Don’t make your calculations based on assumptions of external help:
One good turn deserves another; does it? Many people have helped others in the past and feel entitled to the same or even more measures of help. Unfortunately for some, their hopes are dashed. One mistake intending couples make is putting so much hope in someone else providing assistance of some sort. A rich family member, a close colleague etc.
To avoid disappointments, it is advisable to make all plans within the resources you have on the ground. Any addition from others should be just that; additions.
In conclusion, marriage as they say is essentially a game of compromise. Letting go of some of your beliefs, expectations and aspirations just to make your partner happy. In the wedding planning process too you may need to sacrifice some of your fantasies because of the financial situation of your partner.
