If you are on a budget, but still want to hire the best photographer in town and get the most for your photography dollar, concentrate on spending money on the actual photography and consider skipping the following:
Forego all the extras that the photographer will try and sell you as part of your wedding photography package. Do not purchase the gift folios, engagement portraits, and the like. You will save on the sitting fees, as well as the processing and framing costs for these niceties. Instead, use a candid couple photo for your engagement picture and frame it yourself.
Use a lovely candid photo from the wedding, have it reproduced in 3"x5" size, and send it with your thank you cards. You can easily save $500.
For couples on a tight budget, you might want to consider supplying your own wedding album. Those from the photographer can cost upwards of $1000. If you browse through high end decorator shops and photography outlets, you can easily find your own for under $100. Or maybe your Aunt Emma, the crafty one in the family, can make you a personalized album to hold your wedding photos ...