Once all the excitement goes away in terms of being engaged and getting ready for that big step in life, it is time to start wedding planning. However, it can almost be impossible to plan without first coming up with a wedding budget that you can analyze and do your best to stick to. An in depth wedding budget can help you make sure that you do not overspend and that you have enough money to cover all of the costs that are sure to come about.
In order to help you stick to a wedding budget, here are a few tips to get you started:
One of the first things that you need to figure out is how and who is paying for the wedding. While tradition states that the bride’s parents are supposed to cover the entire cost that is not necessarily the case anymore. If you have the money to cover your entire wedding budget and pay for it all yourself, then the entire process will definitely be a little easier for you. If you are going to need some help from your family then you should have an open discussion about it with them early on in order to see how on board they are and what they are willing to offer.
A good starting point for any wedding budget is to realize that the average cost of the affair is around $25,000. All in all your parents have a few options when it comes to this discussion:
They can let you know a specific dollar amount that they are going to contribute, in which you are responsible for the difference in that figure and the one on your wedding budget.
They can pick particular things that they would like buy such as the wedding dress, the catering, or a combination of things. It is then up to the bride and groom to figure out who is paying for everything else.
Parents and the soon to be married couple can come up with a breakdown, which works quite well for families that are divided. For example if the mother of the bride, father of the bride, groom’s parents and the couple each contribute $7,000 then you will have a total of $28,000 that can be used for the wedding.
The real question that you need to ask yourself when planning a wedding budget is how much money are you actually going to need. Depending on where and when the wedding will be taking place it is a good idea to factor in about $100 for every guest that will be attending the wedding. This gives you $50 a head for your meals and catering and then allows $50 extra for add ons like decorations, flowers, and wedding favors.
There are a number of wedding budget worksheets that you can use to simplify the process and help you start a checklist in terms of attire, reception location, and so on. It is important that you pick the things that matter to you most and make sure that you can afford those wedding details, before you go all out and try to fit in absolutely everything that you and your groom might want. By focusing on what matters most you will be able to pay for the things you dreamt of and save money on the minor details that wont make much of a difference in the long run.