Just browsing through this forum as I was so involved in my own wedding planning and now it's finally over and done with. This question caught my attention. I think many, if not all couples worry about this, so just want to give my 2 cents worth ... if you DON'T want to make a LOSS for your wedding.
1) Pick a venue that serves your needs and purpose and not just for the sake of wanting to "out-do the rest". Make sure you visit this forum for recommendations and see enough venues to understand all the options and costs incurred and what is more viable. Most BTBs want their own dream wedding but if you want to spend your money well, you have to be a smart BTB. You can still have what you want but do not ask for the moon! Weddings in Singapore are costly affairs and it is a huge business for the F&B industry and wedding related businesses. Where and why do you think they have all the budget to do all the wedding shows? Better to be "penny-wise than pound foolish".
2) Always stick to your BASIC requirements, be it ambience (i.e. restaurant, club, hotel), wedding favours (i.e. handmade, bought, included in package), food (i.e. buffet, sit-down), beverage (i.e. beer, wine), people to invite (i.e., VIPs, relatives, friends, colleagues), bridal gown (i.e. MTM, OTR), photography/ videography, bridal car, so on and so forth. Certain things, you can be creative and not have to spend much on. Once you expand on these things, the cost surely goes up. Think from your guests' point of view. Will they be willing to "spend" $100 (i.e. your angbao) for the meal you provide that day? If your banquet costs above $90 per pax (in today's price), either you have generous guests, or you may be faced with footing the balance of the banquet and all other wedding day expenses.
3) The guests you invite will surely affect your budget. Invite someone who actually WANTS to come to your wedding. People who do not know you or your family well (i.e. friends of friends) or whom are not close to you (i.e. colleagues) will not give you a huge ang pao. On the same token, make sure you ask and reconfirm guests to RSVP as some will also not show at the very last minute. MAXIMIZE your seating arrangements. Arrange your tables so that you do not "waste" a seat, especially for tables with babies and young kids.
4) Always see the big picture. Guests rarely remember things such as high ballroom ceiling, how short the aisle is, whether your gowns are MTM, or the type of Mercedes you hired. But they definitely remember and always have comments on things like, quality and timing of food and service, venue organisation and logistics, and the unique moments you have added to your wedding (i.e. singing a song, dancing, montage, games, etc.).
5) If you save more on a venue, you can spend more on a good AD photographer/ videographer who will easily capture the essence of your wedding day regardless of how small your budget is. Those are the memories you can keep and share with your guests!
6) Just remember that both you and your FH have to enjoy the wedding day, as well as the rest of your lives together. So, make sure you both agree on everything you spend in the meantime or you will both stress and regret after the wedding.
7) For most wedding couples, it will be your biggest project and a daunting task to handle. In fact, you may feel like a very rich person all of a sudden, spending on big ticket items every other week or month leading up to your wedding. Sometimes, it can get out of hand if you don't make a conscious effort on ways to save on every aspect from day one.
Anyway, we had a wonderful wedding day at Marina Mandarin, and our angbaos covered all our wedding day and other expenses and still had extra angbao money which we spent for part of our honeymoon. We balanced out our costs and saved on certain things and spend a little more on others. So, always work within your means and I am confident you will also be a happier married couple after your wedding day. Besides, isn't that the whole objective and most important part of it all?
Good luck.