This article was first published on The New Savvy
There is no beating around the bush about it – weddings in Singapore are expensive; some amounting to more than $75,000.
Why A Wedding Budget?
Whether you choose to splurge on a lavish wedding, or you want to keep it modest with a void deck wedding, tradition splits the costs between the bride and groom (and families of each) almost evenly. Many Singapore women still prefer a more traditional type of marriage, which can still be a very cost-effective celebration. It’s important for you to decide what kind of wedding you want and if it falls on you and your future husband’s wedding budget.
Wedding Budget: Choosing a banquet and venue
While there are many expenses surrounding a wedding in Singapore, two of them account for a majority of the total amount spent: the banquet and venue rental.
With an average Chinese banquet dinner costing anywhere from $600-$5,000 per table of six, the cost to feed your family and friends can quickly add up. Add in a traditional tea ceremony and desert, and this alone can break some young couple’s budgets.
For Chinese families, it is the tradition for your husband’s parents to provide the banquet as a gift, which is still in practice today. Your friends may prefer an exclusive $10k venue, but you may want to keep it low key with a void deck wedding. Void deck weddings, when it comes to venue rentals will set you back much much less than a hotel. Keep in mind that your family, friends or co-workers might just have the space to make your wedding spectacular without breaking the bank.
Don’t Forget the Odds and Ends
When making your financial checklist, it is also important to include other minor expenses and know who is traditionally responsible for bearing the costs, which can make planning and budgeting your wedding easier and less stressful.
You don’t have to keep to tradition of course, but remember that your checklist needs to be thorough and broken up into different timelines counting down to the day of the wedding.
Also worth noting, don’t blow all of your budget on the wedding itself; save some for the honeymoon!
Wedding Budget: Costs for the Bride
Keep in mind the traditions that your parents and in-laws may want to enforce, this differs according to religions, races and even respective families. Keep in mind other wedding necessities, such as the groom’s ring, betrothal gifts for the groom and perhaps, a wedding planner. Your bridesmaids are responsible for their clothing rental cost unless there is a common theme, in which case the bride or groom takes care of each.
Wedding Budget: Costs for the Groom
The groom’s financial checklist contains similar items, such as the bride’s ring, gown, suits and a wedding car. In some instances, Singapore grooms might choose to pay for the photographer and honeymoon, but these are considered shared expenses.
After taking a glance at wedding costs and who is typically responsible for them, there are other helpful hints to keep within your wedding budget:
- Set an affordable budget, it’s unnecessary to start a marriage broke or in debt
- Give yourself and both families some time to save for the wedding
- Start planning early to receive promotions and good deals from vendors
- Keep the banquet list manageable to avoid being overwhelmed when planning
- Give your talented friends and families a chance to help out with decor, photography and DIY projects
While you and your husband are awaiting the big day, take the time to budget your wedding accordingly so that you can get the most out of your money.
This article was first published by The New Savvy. The New Savvy is a financial platform that aims to empower women through meaningful content that are relevant and practical. The New Savvy provides resources to demystify finance and spur financial consciousness. We want to make money interesting to women and transform women’s relationship with money.