Say “I Do” to Smart Spending: A Guide to Creating Your Wedding Budget

By Rebecca Barnes, Publisher of Brides & Weddings

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Creating a budget for your wedding is an essential part of the planning process. A budget can help you stay on track and avoid overspending while also ensuring that you can still have the wedding of your dreams. Here are some steps to follow when creating your wedding budget.

Determine Your Overall Budget

Before planning your wedding, determine how much you can realistically afford to spend. Consider your current savings, any contributions from family members, and how much you are comfortable borrowing, if necessary.

Prioritize Your Expenses

Once you have an overall budget, prioritize your expenses based on what is most important to you. This could include the venue, catering, photography, or any other aspect that you consider essential to your wedding day.

Allocate Funds to Each Expense

After prioritizing your expenses, allocate funds to each aspect of your wedding. Be sure to leave some wiggle room for unexpected expenses or any last-minute changes.

Research Costs

Research the average costs of each aspect of your wedding to help you allocate your funds more effectively. Consider speaking with vendors or wedding planners to get an idea of what you can expect to pay for each expense.

Keep Track of Your Spending

As you begin planning and spending, keep track of your expenses to ensure that you are staying within your budget. Consider using a budgeting app or spreadsheet to help you keep track of your spending.

Consider Alternatives

If you find that certain aspects of your wedding are costing more than you anticipated, consider alternatives. This could include choosing a less expensive venue or catering option, or DIYing certain aspects of your decor.

Plan for Hidden Costs

Don’t forget to plan for hidden costs like taxes, tips, and service fees. Be sure to include these costs in your budget to avoid any surprises later on.

Be Realistic

Remember to be realistic when creating your wedding budget. While it’s important to have the wedding of your dreams, it’s also important to be financially responsible and not overspend.

Creating a wedding budget can seem overwhelming, but by following these steps and being realistic about your finances, you can create a budget that works for you and allows you to have the wedding of your dreams.

Rebecca Barnes is the publisher of Brides & Weddings, the trusted local wedding planning guide for more than 25 years. Rebecca is passionate about helping couples plan their dream weddings. Schedule a complimentary wedding planning consultation, call with Rebecca today. 

 

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