Budgeting Your Wedding
Planning the perfect wedding can be very stressful for not only the bride but the groom too. In order to take some of the edge off of this stress, a wedding should be well organized. One of the ways to begin to organize your wedding is to sit down with your fiancé, parents, and parent-in-laws to be, and start to create a budget. Budgeting is not a popular past time with most engaged couples, however, it is a necessary evil if you want a beautiful wedding.
It will be in your best interest to get together with all parties participating money to your wedding and find out what they are willing to contribute. Traditionally, the bride's parents should foot the bill for the entire wedding. However, in this day and time, both the parents of the bride and the groom may help with wedding expenses. Shocking as it may be, about 71.5% of engaged couples pay for their entire weddings themselves.
Once you have established where outside contributions are coming from and the amount that will be given, you and your fiancé can now sit down together and plan the details of your wedding budget. At this time, you and your fiancé need to consider if you have any savings you are going to contribute to the wedding expenses. After you have determined how much money you will be able to spend on your wedding, you should take a moment to discuss alternative ways to save money for your big day. One way is to take into consideration how big a wedding you are planning on having. A typical informal wedding costs about $5,000. If this estimate is to steep for you and your betrothed, you should consider having a small intimate family wedding. Another way is to consider whether or not you can hold off your honeymoon until a later date. Yet another way is to use credit cards or obtain a short term loan. It is common for newlyweds to spend the first year of their marriage trying to pay off the debt that they incurred putting their wedding together.
Now that your spending amount is established, it is time to create a budget. The first thing you need in creating this budget is a list of items and services you will need to pull off your wonderful day and their price estimations.
Once that you have established your list, you should begin to put down the amount of money you expect to pay for each item or service. Once you have made all your estimations, you can now total your estimated cost. If your total estimated cost is more than you believe you can afford, you will need to adjust the estimated cost on each item or service until you find a number you are more comfortable with. However, if the total estimated cost is less than you had plan to spend then don't be afraid to splurge a little more on special items or services.
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