It’s not simple to create your wedding budget. Your wedding will most likely be the largest and most expensive party you’ve ever held. To create a budget, you’ll need to add up your savings, keep a precise spreadsheet so you don’t go over budget during the planning phase, plan for unforeseen costs, and make real adjustments if your entire budget is exceeded. We understand that it’s a lot of work, but putting in the effort now will ensure that you live happily debt-free ever after your wedding. Here’s how to make a wedding budget that you’ll be able to stick to.
1. Decide Who Is Paying For The Wedding.
Begin by determining who will pay for the wedding. The traditional custom of the bride’s parents covering the entire bill is no longer considered nuptial canon. Both families frequently contribute, and the bride and groom frequently assist. You’ll get your bottom line by asking all parties concerned how much they can contribute.
2. Before you start shopping for your wedding, make a budget.
Before you start talking numbers, avoid the classic temptation of falling in love with an expensive venue, dream dress, and extravagant dessert. Instead of the other way around, start with a budget and then look for merchants within that price range. If your budget and wedding plans are utterly out of sync—for example, your parents insist on inviting dozens of their friends but are only willing to pay a little amount—essentially it’s time to talk about the realities of how far that money will stretch and change the budget or expectations accordingly. Never, ever, go overboard! A grand wedding is lovely, but having a strong bank account to commence your married life is even more impeccable.
3. Allocate A Percentage To Each Department
Now that you know what you’re up against, it’s time to consider how it will affect each aspect of your wedding. While there are no hard and fast rules for how much you should spend in each category, there are some general suggestions that can help you stay on pace. Unless you’re alright with ordering pizza for dinner, you probably don’t want to devote half your budget to the band.
Creating a wedding budget breakdown by % is beneficial to many wedding planners and brides. Some brides, for example, would be ready to spend less money on a cake in exchange for more money on a dress. Alternatively, some grooms may have their hearts set on an expensive DJ or band—you can cut corners elsewhere in the budget to create space for killer musical talent.
Regardless of how you organize and rearrange your wedding budget, a decent rule of thumb is to spend no more than 40% of the total budget on the venue, food, and drink. While these are the most expensive line items, they should not consume the entire budget.
4. Lookout For The Extras
Read those terms and conditions properly on vendor contracts before signing on the dotted line or purchasing those cute extra goodie bag items, because little charges can soon mount up.
Ask the merchants if there are any hidden prices or charges you should be aware of while you’re doing your research. This could include overtime or Sunday rates, transportation of your rented items, next-day trash disposal from the venue, repair expenses for unintentional breakages, or corkage for alcohol service. Remember to double-check that the prices listed include tax! To avoid being surprised with a bill after the wedding, it’s best to ask these questions ahead of time.
Even if you think you’re well-organized, there will always be unforeseen costs or forgotten details along the way. It’s a good idea to set aside 5-10 percent of your budget for any unexpected expenses.
For example, conveyance for vendors- getting a band or photographer from out of town? You may have to pay for a rental van or plane tickets. Check the contract to make sure everything is covered.
5. Get Your Priority Sorted
You and your fiancé are likely to disagree over which wedding details are worth spending extra money on. Perhaps your fiancé wants an open bar, but you’d rather spend the money on a delicious 5-course meal than get your guests intoxicated.
In any case, you’ll need to respond to the following question: What is the one wedding item that is at the top of your priority list?
Figure it out, and then set aside money for those two goods right away. (Of course, if you have more money, you can each choose more options.)
Once you’ve decided on your top priorities, you’ll be able to allocate a larger portion of your budget to them, which will help you figure out how much money you’ll have leftover for the wedding details that aren’t as important to you.
6. Keep A Track Of Your Spendings
You’ve made your budget, but the next few months will be spent tracking and allocating your funds. You can use an old-fashioned spreadsheet to store all of your data. Simply keep track of every payment you make and who you owe what to.
Look into hidden fees and extras. Knowing all of the prices ahead of time will ensure that your budget can cover everything. Investigate any hidden fees that could add up over time. Even modest tipping can add hundreds to the cost of your wedding, from the cleaning staff of the venue to the hotel steward who brings your welcome bags.
Put all of the money for the wedding in a separate account so you can keep track of additions and withdrawals without having them mixed up with the day-to-day expenditures.
7. Brush Up Your Bargaining Skills
Everything is open to discussion. Many vendors will work with you to create a package that meets your needs and fits your budget. Let’s say you’ve fallen in love with a florist, but the minimum package is out of your price range. Let her know how much you admire her designs but that you only have a limited budget to work with. Most florists will work with you to create a package that fits your budget. The same arrangement can be done with other vendors.
You might be able to save money on photography by agreeing to have one fewer photographer, or a couple of fewer hours, for example. What’s the catch? You can probably work something out with any vendor if you have a positive attitude and are flexible. It’s also a good idea to offer to pay in full and upfront.
And, regardless of your budget, remember that the most essential part of your wedding is honoring your love for your partner – and that is priceless!