Creating a Wedding Budget
Need a little help sorting out your wedding budget? These tips will help you design the wedding of your dreams without breaking the bank.
Congratulations on your Engagement! But, before you start tasting the cakes, you’ve got a little bit of work to do. Don’t worry we’re here to help!
The first step is to sort out your wedding budget, after all, weddings are expensive. Even if you think you and your significant other are super money savvy, that doesn’t mean you can skip budgeting altogether - you’d be surprised how fast it all adds up. These tips will help you figure out just how much you can spend and where you should be spending it.
You and your partner (and maybe even your families) will be contributing lots of money to your wedding, and you’ll want to be on the same page with how much you’ll be spending and what you’ll be spending it on. The best way to work out your budget is to write up a list of your wedding musts. This way you can see what is important to each other and a rough cost of how much the wedding will cost. Then you can start splitting the costs between each other or if you have to look for alternatives.
Figure out who’s footing the bill
Before you get carried away booking suppliers and signing the contracts, make sure you know who is footing the bill and how much you have to spend. Nowadays it’s common for both families to chip in and pay for wedding expenses, along with the happy couple. In some cases, families aren’t even involved and the guests of honour foot the bill for everything from their stationery to their after party.
Sort out your priorities
Every couple has different priorities. Some would prefer to spend the bulk of their funds on an extravagant venue and are willing to shave a few pounds off their flower and attire budgets to make it happen. Others are sartorially inclined and would rather sport pricey designer duds than tie the knot in a luxurious ballroom venue. Make a list of what’s most important to the two of you and structure your wedding budget according to that.
Even if you’re not exactly “Type A”, you’ll want to stay on top of all your wedding plans, and that means keeping your books organized. Track your spending using our budgeting tool (or a pen and paper, if you’re old-fashioned) so that you can see just how much you’ve spent and how much you have left to work with. Don’t forget to factor in tips, those are important, too!