Budgeting for your wedding can sometimes be a huge headache and may take the romance out of the whole wedding planning process. Rather than stressing out every time you think of another bill or deposit that’s due, create an organized budget in advance before you spend a dime and give yourself a realistic idea of what kind of wedding you can afford.
1.Budgeting Before You Buy
Sit down with your partner and create a thorough budget before you start thinking about where to have your wedding or how white you want your dress to be. Make a list of every detail you can think of and assign a monetary or budget percentage value to each item. Creating a budget and not worrying about all the little stuff is usually what gets couples into tight situations because it’s those little things that can add up after all the rest of your budget has been spent on the caterer, the venue, and the wedding dress.
2. The Guest List to Expense Ratio
Creating your guest list should go almost hand in hand with creating your budget. More guests equals more cake, more food, more drinks, and more seating space. For a large guest list, you need extra wedding invitations, wedding favours, and perhaps even a bigger sound system to function in a larger reception hall. When estimating out your budget, be sure to keep all these factors in mind.
3. Make a List of Priorities
You can’t know in advance exactly what everything is going to cost. While you may have put your best effort into drafting up an accurate budget, some things may just end up costing more and you may have to eat up those extra costs. By prioritizing everything in your budget, you’ll be able to cut back on the less important aspects of your wedding. If possible, pay for the most necessary things in advance and save the less important things for the end when you have a better idea of what you’re actually spending.
4. Keep a Budgeting Checklist
By making a chronological checklist of everything you need to buy, pay for, or put a deposit on, you’ll be able to see how much you’re spending and when you have to spend it all at a glance. If you have to pay a few vendors all within the same week, you may choose to make any additional purchases at a later time in order to leave yourself some financial breathing room. This is also a good way to remind yourself when a bill or deposit is due so you don’t lose a hold on your dream dress or that perfect venue.
Budgeting doesn’t have to be a chore when planning your wedding if you stay organized and keep records of everything. When your wedding day rolls around and you’ve stuck to your budget you’ll be able to enjoy your big day with unburdened shoulders and a light heart.
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