Jean Chatsky: Some tips that can cut the cost of a wedding

When you think of life's big expenses, what comes to mind? College, for one. A home, a car, certainly retirement. And if you are planning to get married, or have children who are, a wedding ranks high. And it should be -- according to The Knot's Real Wedding Survey, the average wedding in 2008 cost $29,334.

That's more than a down payment on many houses, more than four years of college tuition at a public institution, and more than many cars. But a wedding certainly doesn't have to cost that much.

I've been to lovely weddings that probably had a budget of $10,000, and equally lovely weddings that likely topped $50,000. What did they have in common? Heart. Soul. Creativity.

The key is knowing where to skimp and where to splurge. Here are some tips:

Go off-season. Vendors in the Midwest and Northeast will almost always cut you a deal in January and February because they don't receive as much business during those months. If you've always envisioned a garden party in May or September, perhaps start imagining a lovely reception indoors.

Limit the bar. Offer only wine, champagne and beer during the cocktail hour, then open the full bar during the reception. "The cocktail hour is when they drink the most, so you won't believe how much you can save in that one hour," says Mindy Weiss, author of "The Wedding Book: The Big Book For Your Big Day." Another option, says Sharon Stimpfle, deputy site director at weddingchannel.com, is to offer wine, beer and a few signature cocktails instead of a full bar.

Cut (back on) the cake. You don't need a full serving for every guest, despite what your baker might tell you. Wedding cakes are almost always priced per serving, and a serving can run $10 or more. That means for a guest list of 150, you could be looking at $1,500. Instead, says Stimpfle, serve guests half servings. "Only half of the cake is usually eaten anyway -- guests are on the dance floor, having fun and they forget about it." Trust me, when you see tables littered with plates of cake at the end of the night, you'll have wished you scrimped on the scrumptious.

Get crafty. The Web is a fantastic resource for DIY-wedding projects ranging from Martha Stewart-inspired paper decorations to hanging lanterns made out of mason jars and a little wire. Try a Web site like Etsy.com, which hosts vendors selling items ranging from unique wedding invitations to decorations to veils. Often, prices are cheaper, and you're also helping to support small-scale artists.

Consider a full-service venue. A lot of people make the mistake of looking at only a couple of venues, balking at the high rental prices, and then thinking they can save money by hosting the wedding in their backyard. But it often ends up being more expensive. At a full-service venue such as a hotel, the contract price includes everything from the caterer to the cake to the bar to the rentals. Not only do you know up front how much you're going to pay, but you also won't have the logistical nightmare of renting the supplies on your own.

Splurge on the memories. It's only one day, and it goes fast. So a good photographer is really important. If you can swing it, hire one with an assistant so you have two sets of eyes. Consider a videographer as well, though a pro isn't necessary, Weiss says.

Jean Chatzky is an editor-at-large at Money magazine and serves as AOL's official Money Coach. She is the personal finance editor for NBC's "Today" show. Her Web site is http://www.jeanchatzky.com.