Budget Planning for Your Wedding

Regardless of the amount set aside in your budget, there is no need to be overwhelmingly stressed about finances when planning your wedding.  Instead, gather an understanding of how your funds should be allocated and begin breaking down each cost one step at a time. This simple process can help you take control of your money, your planning, and your sanity.  Here are a few tips to help you effectively manage your money through the planning process.

Ask for Help
Before you allocate funds into specific categories, find out exactly who plans to pay for what. While the conversation may be tricky, ask your family members if they plan to help and how. Have an open and honest discussion about what you need and be grateful for any amount they are willing to donate. It is important they commit to the amount offered before you begin planning specifics. If you are weary of their willingness to follow through, play it safe and start the process as if they were unable to take part financially.

Smart Allocation is Key
Gathering a broad idea of the amount to allocate in certain categories is essential before you commit to vendors. For example, roughly half of your budget will be designated for the wedding venue and catering. When you meet venue representatives, gather a cost breakdown of what is included and make sure it aligns with your financial plan. If not, no need to stress. Instead, find a venue more compatible with your savings. In the end, staying inside your budget creates less angst than spending more than you can actually afford. Here is how to start creating a practical wedding budget.

Manage Your Guest List Appropriately
Controlling the size of your guest list is an easy way to manage the overall cost of your wedding. Less people means less food and alcohol alongside a smaller venue space. This will also lead to savings on stationary, décor, and favors. Here are tips to keeping your guest list small.

Keep Track of What You Spend
Whether you have a wedding budget calculator or just love to create spreadsheets, keeping track of your spending is essential. Be sure to have a “miscellaneous” fund available for any unexpected cost that may arise and don’t forget gratuities and service fees. Here are some hidden wedding costs that catch people off guard.  If you have your heart set on something that you can DIY, give it a shot! You may open up funds to allocate in areas that were otherwise neglected.