Is Our Shrinking Economy, Shrinking Your Wedding Budget?

Yesterday, I came across an article on Bloomberg.com titled, "Brides Kiss Dream Weddings Goodbye as U.S. Recession Takes Over". As a planner, I know that reading anything with a title such as this one, can be intimidating and discouraging, especially for couples who have become victims of our shrinking economy.

Of course, I extend my greatest sympathy towards brides and grooms who have spent $22,000 in venue and catering expenses, only to find out that the banquet hall's owner has filled for bankruptcy, leaving them and their 250 guests, no place to celebrate. Or the brides that paid for gowns right before La Bella Sposa in Charlotte, North Carolina closed for good last June. (Brides have even formed a Facebook group called "La Bella Sposa Victims", dedicated to refunding brides "who were promised the dress of their dreams from La Bella Sposa in Charlotte, NC and were only left with a nightmare.")

If anything, the condition of this economy is teaching us planners, brides and grooms alike, is to clearly define our needs vs. our wants. Question whether we should splurge or save and most of all to be wary. Wary of vendors who may be well aware of their financial status but continue to take money for services they ultimately can't provide. Protect yourself by questioning your vendors and their services. Don't be afraid to ask for refferals or if they have liabilty insurance.

In such an unstable economy, investing in wedding insurance isn't such a bad idea. Wedsafe.com, provides ten levels of cancellation or postponement insurance ranging from $7,500 to $175,000. At this point, I encourage any bride to be safe, rather than sorry.