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It sounds like you have done alot especially by really looking at the guest count and everything. You said you have only been engaged for 1.5 weeks, take your time. Really research venues and get pricing from everyone! It might take you a month or two to find something perfect for you but you will. Since you dont have a venue yet are you set on May 2011? If not, check with venues to see if they offer lower pricing when its not prime wedding season (January-March or October-December). Or consider a Friday or Sunday if the costs are much cheaper.
I TOTALLY sympathize. Planning a wedding in NYC was a huge wakeup call for me. I knew the city was expensive, but have usually been able to find deals on clothes, food, etc. That all changed when I started wedding planning. Everything just costs more, no getting around it.
That being said, it is possible to have a wedding well within your budget, and there are a few brides who have done it--one on a $10k budget! I'm not sure what her blog is, but here's another one : http://tenthousandonly.blogspot.com/2007_05_01_archive.html
here's another: http://www.citywendy.com/wendy/2009/08/how-i-threw-a-budget-wedding-in-new-york-city.html
I also think that keeping your guest list small is going to be the best way to keep costs down; it means less food, less alcohol (if you're having), fewer centerpieces, fewer favors, invitations, etc. Also, don't be afraid to ask vendors how they can work within your budget. Photographers especially--there are so many ways to get a good photog but not blow your budget. Maybe you only have them for 6 hours, you don't get any albums or any prints, and just get the DVD with hi res photos...it's totally doable.
I think you need to figure out what kind of venue you want; for a small wedding, restaurants often have private rooms that you can use, and it's less expensive. Or having a morning or lunchtime reception, instead of an evening one will cut down on costs too. There are plenty of ways to make it work if you guys do decide to go ahead with a wedding in NYC! Good luck, and definitely come to the meet-up this Friday (check Ms. hamster's posts for it).
Hilsy - I'm def coming Friday and am looking forward to it!
@ JAxx: I live in NYC and a from the hudson valley (and fancy myself a lil bit of an event planner). Budget is my middle name. If you want to PM me we can talk about what you have looked at thus far and see if I can offer you any suggestions for Hudson Valley/NYC savings. Best of luck regardless.
good luck girlie!!! also, see if any of the photographers that you are looking for has an a la carte package, that can save you thousands sometimes if you play your cards right. I know my photographer does and travels to NYC, you can definitely PM me if you want her information and email.
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For better or worse (Ha Ha!), FH and I live in NYC. I am orginally from NJ and I left for a reason...and also, where I'm from and where my mom lives is not far enough outside NYC for costs to be dramatically less. FH is from Maine, and while Maine is nice and can generally be cheaper than NYC, the preliminary venues I've researched that I could see myself going to are still clocking in not much below NY, and that's not including the cost of two or three (or four, because I am a control freak :)) times I'll have to go up there to meet with vendors, etc. We have talked about the Hudson Valley as a possible location, as well as smaller venues around Manhattan and Brooklyn. We have discussed having a max 80 people. I've asked for quotes, etc, from several places we mutually agreed are strong contenders, and even for the most barebones wedding (not including the honeymoon, or any nice-to-haves like a shuttle bus from the hotel where most pple will be staying to the wedding venue, or a brunch the next day), it would run minimum $20,000. Which I am aware is a steal for NY. However, FH is not happy about it at all. When we talked about a wedding budget around the holidays, I thought $10-15,000 was reasonable for a wedding of this size, but obv a number that wasn't based on any research. My mom sounds like she is willing to pay for most of the wedding, with my godfather chipping in, and although I have not yet talked to her about that number, it sounds like she is willing to contribute in the neighborhood of $15,000. I will also add that I am an only child. If our wedding costs zero in at about $20,000, that leaves $5,000 plus honeymoon we would have to cover. I think that's great, but he is not comfortable shelling out that much money. He says he'd rather put $20,000 toward a house (which by the way, we agreed that in about 5 years, we'd look into buying), but this wouldn't even cover a whole down payment in NYC. So we looked at inviting/having fewer people, and the smallest number we could get away with is 50 people. I priced out everything in front of him based on a venue in the Hudson Valley that gave me a quote for 50 people, and it still came in around $17,000, not counting honeymoon.
He kind of accepted it, but he doesn't want to part with his money (and he has at least 3-4 times more than me saved up). I started a saving account at the end of last year just for the wedding, but he thinks it's a waste of money to spend $5,000 on a wedding (and for my mom to spend $15,000 on our wedding). I've read many sites and suggestions about how to cut costs, but unless we DIY EVERYTHING besides what the caterer provides and pay our semi-talented friends to do things like DJ and take photos (which I'm not entirely comfortable with), we're not going to cut a whole lot of costs. I've started asking for vendor recs from friends who have recently gotten married, but most of their vendors are out of our budget. And as much as I love DIY, I don't want to be getting up at the crack of dawn on my wedding day to arrange flowers and set tables (many of the venues we are looking at will likely have both weekend days booked or do not allow any day before set up). I don't think we've reached an impasse, but I'm also not sure what else to do. Any words of advice?? I've only been engaged for a week and a half and I'm already stressin'!