How do I Budget my Wedding?

November 27th, 201010:01 am

0


How do I Budget my Wedding?

Wedding are fun.  Weddings are exciting.  Weddings can also cost you an arm and a leg unless you follow a pre-planned budget.  A budget will help you plan appropriately for your upcoming expenses, and it will also help keep you out of debt once the wedding and the reception are over.

Unless you have been married before, there’s a good chance you have absolutely no idea what anything is going to cost.  How can you plan how much a reception is going to cost?  What about attire?  How can you create a budget when you have no idea what you are going to be paying for these things?

Start off by looking at how much money you have to spend.  Most weddings these days cost approximately $20 000, though this doesn’t mean that you can’t spend more or less.  Base your budget on how much money you presently have set aside, or how much you will have saved up by your wedding day.  From that figure, you should allocate funds in approximately in the following percentages:

  • Reception – 45% of your overall budget
  • Entertainment – 10% of your overall budget
  • Flowers – 10% of your overall budget
  • Attire – 10% of your overall budget
  • Photography – 10% of your overall budget
  • Transportation – 5% of your overall budget
  • Other – 10% of your overall budget

Again, these are loose figures.  If you have a friend whose photography skills are going to be your wedding gift, then you can allocate that 10% to something else you find important.  Likewise, if flowers aren’t your thing and you don’t plan on spending a lot on that, you can take a percentage of that “flowers” budget and use it elsewhere.  The important figure there is the reception, which will definitely be what the bulk of your money is going towards.

If your budget is feeling a bit tight with all of these things to consider, then it’s also time for you to start looking for less expensive alternatives for things.  For example, wedding invitations themselves can set you ck a lot of cash if you are willing to spend it.  A great way to save some extra cash on wedding invitations is to use an online invitation service, or to pick up a “do it yourself” wedding invitation kit at any craft store.

You also don’t have to buy the most expensive wedding dress out there.  Any dress that you can find for $4000 can be found in a similar style and for at least half the cost.  If you choose a synthetic fabric dress, you will probably pay any where from $300 to $1000 for a wedding dress, whereas silk dresses can cost up to $10 000.  Other less expensive alternatives for wedding dresses include renting them from professional bridal rental stores, borrowing a dress from a friend, or purchasing one second hand.

A girl’s wedding day is something she has been dreaming about for years, though the budget probably wasn’t.  Make sure you stick with your budget so you can be sure you won’t still be paying for this wedding 10 years from now.

Categories: Budget and Basics