Saving money with a *Limited* Open Bar?

So I get that a bar is expected to be available at a wedding. And a cash bar is just as bad if not worse than just having a dry wedding. What if the bar was limited to 2 types of wine, 2 or 3 types of beer, mimosas, (champagne for toasts), and maybe a couple of cocktails? I'm taking in the budget where I can, and serving limited options and mostly lighter alcohol seems like the best option to offer the guests a good time as a hostess and not break the bank.