You have been checking out vendors for months.  Pinning like mad.  Working and re-working your budget.  Waiting until you have the funds available to purchase that item or pay the retainer.  You are finally ready to make that purchase, and, oh no!  The price has unexpectedly increased!  Now it is out of your budget!

This happened to me with my wedding ring.  I found my dream wedding band and I was waiting for my husband to save up to pay for it.  (We bought our rings out of our own money, not the wedding money.)  I went to go look at the ring and daydream about it on my finger again, and saw that the price increased by almost 50%.  This put it way out of the budget of what my husband was expecting to save up for.  I was devastated, but decided not to give up.

Here are my suggestions on what to do if a vendor unexpectedly increases their prices.

Be Understanding

As a small business owner, I understand that businesses need to increase their prices.  There are many reasons this may need to happen.  Maybe they are just starting out and offering lower prices to their first customers, and planning on incrementally increasing to the market standards.  Or, maybe the cost of materials went up, and they needed to adjust the cost of the product accordingly.  Maybe they realized that they could no longer work 7 days a week without vacation, and need to increase their prices so they could afford a paid vacation like people who work a traditional job at a company.  Maybe they are increasing their prices to adjust for the natural inflation of the economy.  My point is, there are many valid reasons why the price of something may increase.  You need to be understanding and not think that the vendor is doing it to negatively affect you in anyway.

Reasses Your Budget

As you purchase things for you wedding, your budget will adjust.  Did you get an amazing deal on your dress that ended up being below your budgeted amount?  That savings in your budget may be able to offset the vendors price increase!  Win!

Is there anyway you can increase the budget by the difference?  Could you have a yard sale, work some overtime at work, or ask other contributors to your wedding if they can offset the difference?  If your budget is firm, keep reading my other tips below.

Ask The Vendor If They Can Work With You

Call or e-mail the vendor and explain your situation.  Explain that you were very interested in working with them, but before you were ready to purchase the item/pay a retainer, the prices increased putting them outside of your budget.  Ask if there is any way they can work with you.  Be very nice and courteous.  Remember, there is a valid reason for the increase, and you are asking for a favor from a stranger.

Don’t Expect A Major Discount

The vendor by no means has to provide you with a discount.  But it doesn’t hurt to ask.  The worst they can say is no.

Even if they are willing to work with you, do not expect to receive the previous pricing.  Especially if the price increase was due to something the vendor cannot control, like the cost of the materials.  If they do offer you a partial discount, be gracious and honest.  It is not becoming to try and haggle.

“Your prices are now $500 over my budget.”

“Oh I am sorry to hear that.  I can offer you a $250 discount.  Would that help?”

“What about $400.”

Ick.  Seriously, they are doing you a favor, and you should be thankful.  If it is still outside of your budget, be honest.

“Sorry, I don’t think we will be able to do that.  It is still too far outside of our budget.  Thank you for taking the time to try and work with me.”

Don’t Expect Them to Offer a Discount Forever

If they do offer you a discount, it will most likely have a timeframe string attached.  They may be able to offer you the discount if you purchase the item/pay the retainer within the next 7 days.  If you are asking for a discount, be prepared to pay them.  Do not expect a discount for your wedding in two years and to pay the vendor in 9 months.

Ask For Recommendations

If you still cannot afford the vendor with their price change, ask them if they have any recommendations for another vendor you can use.  They may be able to refer you to another vendor that fits your current budget.

Luckily, my wedding band did end on a happy note!  I e-mailed the jeweler and explained my situation.  I was looking at the ring for months, waiting for my husband to save up for the ring.  It was perfectly in our price point, but with the increase, it brought it so far out of our budget, we could no longer afford it.  I asked if I could possibly get a discount on the ring.

And you know what?  They did!  They explained that part of the increase in price was due to an increase in the metals used to make the ring.  And they offered to meet me in the middle, if we could purchase the ring within 7 days.  We borrowed money from the wedding savings, and purchased my ring!  My husband paid back the wedding savings before our wedding date, and all was well.