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Weddings provide some of the most beautiful and memorable moments of a couple’s life. The ceremony and reception are full of so much love celebrated in front of friends and families. It’s a magical time that can feel like a dream come true. However, we all know that weddings, although dreamlike, can cost a pretty penny.
Today’s post is all about giving you excellent tips on budgeting your wedding so you can still have the wedding of your dreams without going bankrupt. No one should have to skimp on one of the most magical days of their life.
At first, budgeting doesn’t sound fun or sexy, but rest assured — saving money is always sexy. Your wedding will probably be the biggest social party you’ve ever planned, and, with the right tools and tips, you can have the occasion of the year without emptying your savings.
Getting Married for Less Equals Preparation
When it comes to weddings, preparation is key, specifically when it comes to the funds you and your significant other are prepared to spend on the big day. It’s OK not to know where to start your budgeting journey, but following these tips will help you stress less and avoid frustration along the way.
Here are a few ideas to help you get started:
Figure out how much money you and partner have to fund a wedding. Sit down and discuss your savings and how it fits into your regular budget. Ideally, each of you will have three months of living expenses set aside in addition to emergency funds. Understanding your financial snapshot is the first step towards putting money into your wedding. Another factor to consider is contributions from parents or loved ones. It is common to ask your parents or family for help, but don’t assume your parents will cover the cost of your wedding. Have a conversation with parents to see how they want to be part of the celebration monetary. Maybe have your parents pay for the catering or the venue?
Did someone say Excel sheet? A quick and simple budgeting strategy is to create a spreadsheet with two columns: Estimated and Actual. Use the Estimated column to write down what you think you will pay based on research, costs, and proposals/quotes from vendors. Then, use the Actual column to detail the actual costs spent so you can keep track of how your actual expenses measure up next to what you had planned. That way, you’ll know exactly how much you’re over or under your budget, so you can reallocate your spending accordingly.
One central truth to saving is Wants vs. Needs. When it comes to your wedding, you may need to cut some things to have others. Perhaps you found a venue space that will not require too much beautification as opposed to one that needs a lot of work, or maybe you need to cut your guest list to save money. This article says it best: “Never have a B-list, and be ruthless with your A-list.” Another tip for saving your dream wedding is to host the ceremony and reception in the same space. By doing so, you will save on guest transportation, extra decorations, and more.
Budgeting can seem like a hassle, but with a positive mindset and the tips above, you are one step closer to fulfilling the perfect wedding that costs less without looking like it. That is why during our planning process with our clients, the first things we go over is budget. All our clients have a customized budget just for their wedding celebration.
Ready to create the wedding of your dream and save book your consultation today email@example.com