Crowdfunding Your Wedding is a Smart Move. Here’s Why.

Crowdfunding Your Wedding is a Smart Move. Here's Why.

Many of us know about the “tradition” of the bride’s family paying for both ceremony and reception costs. The groom or his family is charged with procuring the marriage license, officiant fee, and, of course, engagement and wedding bands. But this isn’t the case across the globe!

For example, in many parts of Mexico, the happy couples go in-person to friends, family members, and community connections to request their support as “padrinos” – donating funds to the wedding in exchange for a place of honor in the ceremony. In this way, they serve as a sort of sponsor and are typically asked to participate in the church services as in a special manner. In other words, you could call this a crowdfunding tradition!

The Basics of Crowdfunding

Crowdfunding is defined as the practice of funding a project, venture, or event by raising a small amount of money from a large group of people. For a personal event like a wedding, it might be more apt to call it ‘friend-funding!’ Most of the money raised will be from people you know and, especially for a wedding, people who are planning to either attend or donate due to their being unable to make the event. While crowdfunding via internet websites has gained popularity for paying medical bills and fundraising for non-profits, more and more people are turning to it for more personal ventures like weddings. This can be a very smart move for you to make too!

3 Reasons Why Wedding Crowdfunding Makes Sense

One of the reasons why crowdfunding is becoming more and more popular as a means for wedding support is due to all of us living in a changing world. Shifting trends, such as increases in marriage age for many couples, mean that the bride and groom’s families are no longer apt to pay, leaving much of the financial burden on the couple. Bankrolling a wedding in one’s late twenties and early thirties is a monumental task in today’s economy!

Another reason why wedding crowdfunding has come in vogue is due to traditional wedding registries becoming more and more obsolete. A side effect of delayed marriages and increased cohabitation before marriage is most couples already either own or have no need for the more traditional wedding gifts like bakeware, appliances, and bedding. Yet, while traditional gifts might no longer be needed, that does not mean gifts, in general, have gone out of fashion. There remains a strong tradition for guests and family members close to the betrothed to give something of value and meaning to the bride and groom. Crowdfunding enables guests to give the gift of an experience, the wedding itself, which they are likely to also partake in.

Finally, the third reason why crowdfunding your wedding is a smart move is because many wedding guests, because of reason one and two, are already likely to give you money as a reception gift. So instead of waiting until the wedding reception to determine how much can go towards your wedding, why not request for it upfront that way you can plan to use it exactly how you want and might have otherwise?

That’s the beauty of wedding crowdfunding!

Starting a Wedding Crowdfund Campaign

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When setting up a wedding crowdfunding campaign, the most important tip for success is to keep a thoughtful budget. Ask only what you need, and be specific! Determine first what your family is willing to contribute (if any) and what you and your fiancé are capable of putting forth. Draft a complete wedding budget and then establish what aspects of your wedding will need funding so that you can be specific in your campaign.

For example, maybe you need an extra $5,000 to cover the wedding and reception venues. If so, then be precise about these costs when creating your campaign. Explain why these locations are important to you and your fiancé. Your friends, family members, and coworkers will be more apt to donate to your wedding campaign when they know what it is going towards. Just like the aforementioned example of Mexican padrinos, people love to sponsor the people they love, but they also want to know what part of a wedding they are sponsoring.

Contact Us to Learn More

For more information about crowdsourcing your wedding, check out our Wedding page for more tips and tricks to start your campaign. dreamOway is here to make your big day a success!

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