How do you set your wedding budget?

Even the most financially savvy couple can find it difficult to determine a wedding budget. There are so many wedding essentials that you can choose from. It’s easy for couples to lose track of the importance of their bank card and get lost in the romance and excitement.

It depends on who you ask: Is it love or money? Setting a budget for your wedding is a process that takes both love and money into consideration. Learn our top tips and tricks to help you set a wedding budget so that all can enjoy your eight-tiered, flower-accented cake.

What are you doing with?

Knowing what your budget can afford is the first step in any budget. Your combined income and any savings that you have made for your wedding will be considered. If you haven’t already discussed it, this is a great time to start a conversation about your budget expectations with your partner.

If you are fortunate enough to receive gifts from your parents as part of the wedding package, this is the right time to discuss timelines and dollar amounts. Talking about money can be awkward, but you will feel secure knowing all cards are on the deck.

It is important to note that extra cash infusions are not always recommended. Although a large tax refund, Christmas bonus, or lotto win is a nice addition, it’s not advisable to cut your budget if you don’t receive the expected amount.

Be cautious if you are unsure. It is better to have some money left over for honeymoon funds than to wonder where all the money went.

Create a money tracker

Scheduled payments, deposits, deadlines, it’s all lots.

Easy Weddings’ budget calculator is the best way to track all your wedding expenses. This is a special tool specifically designed for weddings and integrates seamlessly with other Easy Weddings planning tools. It’s also completely free! You’re already making great budgeting decisions!

There are other options, such as spreadsheets for computer-literate people or a binder divided by the vendor.

Finding the right tools is key to your success.

Research, research, research

Once you have decided how to track your wedding budget, you will need to add potential products and services. This will allow you to start researching the approximate cost of products and services to avoid getting sucked into making assumptions.

This is where the fun begins! Allow your imagination to run wild. A custom-made ice sculpture in your image? You should! Champagne tower? We’re in. As you start to create your dream wedding, be open-minded and explore all options.

Easy Weddings has a supplier directory that you can use to request quotes. Ask your closest and dearest friends to help you plan your wedding. We are sure they will be happy to share their knowledge, contacts and anecdotes.

Take some key decisions to create your priority list

You now have all the information and inspiration you need, and it is time to make key decisions. Is it worth spending extra money on a lengthy, leisurely engagement? Or is time the most important factor? What number of guests will you have, and what are their expectations?

It can be daunting to sit down with your partner and discuss a budget. Darcy Allen, our resident wedding specialist, has put together some useful budget discussion points to help you get started.

Prioritization should be done using a “rocks first” approach. You can tackle your wedding budget by putting the deal-breakers and ‘rocks first. What are your must-haves for a wedding? The wedding cornerstones for most couples are A venue that you love, delicious food, beverages, and a celebrant who can make it official. To adapt to your remaining budget, you can add the pebbles (services you place less importance on).

The venue is likely to be the most expensive part of your wedding. You can expect to pay more if you get married during peak season. However, discounts may be available at other times of the year. A Friday wedding can be a good choice, as it will save you money. Also, you will need to choose your style. This is a big decision.

Talk to your partner about your priorities in terms of your budget. If you admire the work of a wedding photographer but aren’t a fan of desserts, you might be willing to reduce your desserts budget to afford a higher price.

Combine it all!

Congratulations! You’ve done all the hard work. Now, it’s time for you to put everything together. This should be an easy, satisfying process.

Your thorough research will reveal how much you can spend on what, where you should include it, and how much each item will cost.

This is where you will need your budget planner. This will be your guide to the fun part, locking in your vendors and beginning the collaborative wedding planning process.

Some extra budgeting tips & tricks

  • You should set aside money for an emergency fund in your budget. This can cover everything from last-minute cleaning your gown to buying an umbrella for heavy rain.
  • Use your budget calculator regularly and include all costs that could add up.
  • You should also include items for guests who are not at the wedding party. You could make corsages for your mom or thank you gifts for the MC.
  • Pay attention to overtime fees in contracts. These costs will need to be known upfront so that you don’t end up in debt after the reception.
  • When you book professionals, make sure you understand what you are getting. If you are considering two trial sessions with a makeup artist, ask about the cost of the second. It’s better to be safe than sorry.
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