Congratulations on your engagement!
The hard part begins once the euphoria of the engagement has worn off… THE WEDDING PLANNING Part!
Wondering why it is hard?
Oh, it’s because it needs a lot of planning and preparation before you actually start arranging things for your big day.
Know that wedding planning starts with creating a wedding budget! Yes, the most important part of your wedding. Creating the wedding budget is indispensable before purchasing the perfect dress, deciding the best cake, picking out the flowers, or even trying makeup. Creating a wedding budget prevents you from losing out on the special day of your dreams.
So, in this post, we shall discuss the most critical part of your wedding – the wedding budget and share some tips to set up a wedding budget.
Without further ado, let’s get started…
BUT, let’s first look at why setting a wedding budget is essential.
Here we go…
Table of Contents
🞓 Why setting a wedding budget is essential?
When planning a wedding, one of your main tasks should be to create a budget. Making a baseline for your spending, whether for a large or small event, will make it easier for you and your partner in the long term. This is also a good time to determine where the money in said budget is going to come from, whether that is raiding the “rainy day fund” above your refrigerator, transferring money out of your savings account, or comparing credit card proposals. Ultimately, all of this will serve as an ideal starting point for you to become accustomed to creating budgets, which is necessary for a happy marriage.
It doesn’t matter whether you’re prepared to spend huge money or less on your wedding. Knowing your finances and costs can help you avoid worry down the road. For example, you booked the best venue in the town and gave the non-refundable deposit. However, after some time, you realize that you want to spend more money on your wedding attire and decide to change the location. There are so many such possibilities when it’s a wedding. You may get trap in such choices often while you prepare for your wedding. However, creating a wedding budget in advance will help you avoid acting on impulse.
Having a wedding budget and sticking to it diligently makes managing your spending a snap. It allows you to go over everything before paying suppliers or buying things you don’t need. Spending unnecessarily on things that are not required leads to financial disagreements, and we believe you want to avoid that. So, set up your wedding budget for having a great wedding without any financial disagreements.
Now it’s time to take a look at the tips to set up a wedding budget.
🞓 9 Tips To Set Up A Wedding Budget
#1. Decide the kind of wedding you want
Before you sit down with your spouse and family to plan your wedding budget, you must first decide what type of wedding you want to throw.
Whether you want a big fat wedding or a small intimate gathering with your closest friends and family, we can help. Knowing it ahead of time can assist you in developing a viable and very realistic wedding budget.
It’s because each sort of wedding has its own set of criteria and price range. As a result, knowing the type of wedding you want to have is critical before deciding on a wedding budget. Sit down with your partner and talk about the kind of wedding you want to have. Your partner may have differing expectations, but you can find a solution by discussing them with one another.
#2. Sit with your partner and both parents
Once you know the kind of wedding you’re planning, it’s time to sit down with your partner and both parents. Create a budget that you can work with. It is crucial to have your parents and partner while creating your budget so that you know who is sponsoring what.
Pro tip: Discuss everything, about every aspect of your wedding. Be clear about your requirements and let everybody know what kind of wedding you’re planning to host.
#3. Figure out who is sponsoring what
Though it is customary for the bride’s parents to pay for the wedding, this is no longer the case in modern weddings. Today, the wedding budget is frequently funded by both sets of parents, other family members, and the couple themselves. As a result, get down with family members and discuss who will pay and how much they will contribute.
#4. Focus on your contribution
Once you know who is paying for what, it’s time to focus on your contribution. Decide how much you will fund for the difference after the family’s contributions to the wedding budget. Remember that you don’t have to be cruel to yourself or your partner to create your dream wedding. This implies that you decide how much you and your fiancé realistically—and comfortably—afford to spend? There is no point in taking a loan and stressing yourself up. Moreover, your new journey should not ever begin with a debt.
#5. See your budget requirements for wedding
There are certain requirements in a wedding, which we call basic requirements that must be met. Determine what wedding budget needs are there, such as the wedding officiant, attire, tuxedos, wedding venue, wedding photography, entertainment, caterer, florists, decor, wedding cake, etc. These items are given top priority in the wedding budget to ensure a wonderful wedding celebration. Make a list of these requirements as you’ll need to spend your money on them first.
#6. Find out your wedding MUSTS
Certain aspects of the celebration are essential to each couple than others. Some grooms love to have an open bar, while brides desire the ideal gown. There will be many such things that would be non-negotiable for you; it may be a wedding cake, wedding attire, or anything for that matter. Whatever be it, you need to know your WEDDING MUSTS in advance while you prepare your wedding budget.
Make a list of two or three absolute “musts” for the wedding, even if they aren’t required for the event to occur. These are two or three items on which the couple can be selfish without feeling bad.
#7. Be clear with HOW MUCH
This is vital! You should be clear with how much to spend on each item, including the napkins. Each item that is to be used at the wedding should have a limit. So, decide how much you’re willing to spend on wedding attires, food, venue, flowers, favors, and other items.
#8. Be organized
Of course, only deciding on the wedding budget is not enough. You will have to create a spreadsheet with each item mentioned in that. Make a spreadsheet and assign a monetary value to each facet of the event. Consider using Google Sheets so you can easily share your budget spreadsheet with your parents, fiancé, and anybody else who is contributing.
Pro tip: To ensure that nothing is forgotten, utilize a wedding planning checklist to compile a comprehensive list of objects used in wedding celebrations. You can refer to our wedding planning checklist for absolute ease and comfort!
#9. Don’t stress yourself
And finally, don’t burn yourself out! Agreed that your wedding is a once-in-a-lifetime event. But you should also know that your wedding is only a one-day event in your entire life. Wedding planning is a task, and you cannot burn yourself out about wedding fundraising. Just be realistic about how much the family and spouse can afford to avoid future planning hardship. Don’t have unrealistic expectations from others, including your parents and partner.
Keep in mind that you can always plan a fantastic wedding within your budget. It’s only that you’ll need to be incredibly smart and diligent in order to succeed. For example, if you’re looking for bridal gowns from a specific designer, keep an eye out for when their sale begins. You can purchase your favorite designer’s gown for your wedding during the sale.
Pro tip: You don’t have to go for cheap wedding services in order to create a wedding within your budget. Just be honest with your wedding vendors about your budget. Ask them to figure out the best deals for you. Reputable wedding vendors always have solutions fitting to client’s needs. Be open, and be clear with them; they are the ones who will help you create your dream wedding.
Wrapping it up…
So there you have it: the 9 best tips to set up a wedding budget. Wedding planning can be stressful, but wedding fundraising does not have to be. Use these tips to come up with a workable and realistic wedding budget and keep the stress level down during the planning process.
Happy Wedding… ☺ ☺