Planning your wedding budget isn’t the easiest thing to do.
Your wedding will surely be the biggest party you've ever hosted and, of course, the priciest. To make a budget, you'll need to tally up your savings, maintain a detailed spreadsheet so you don't go over it during the planning process, prepare for unexpected costs, as well as make meaningful cuts if you do exceed your total budget.
Here are few steps to help you create a well - planned wedding budget:
Count Your Cash
When planning your wedding budget, you have to consider how much you and your fiancé are able to invest. Here come three main sources of money:
- You and your fiancé's individual savings
- The amount you can set aside from your current income
- Any contributions from parents or loved ones
Track Your Spending
Create a spreadsheet with your expenses and track every single pound spent on your wedding needs.
Prepare for Surprises
Wedding planning process if full of surprises. Sometimes having a detailed plan doesn’t mean unexpected expenses won’t occur. There are so many ways you can be urged to start spending more money on certain things that it is always better to be prepared and include some “extra” budget during the planning process.
Charge Responsibly
No matter how tempted you are to boost your cash flow with credit cards, don't go overboard. For example, register for cash gifts that you can put toward a portion of the wedding and create a savings plan to cover the rest. If you do use a credit card, choose one with a generous cashback program.
Find Ways to Save
Over budget? These ideas will slash your spending in a meaningful way.
- Change the venue.
- Edit the guest list.
- Host the ceremony and reception in the same place.
- Forgo a live band.
- Order all of your own paper items yourself.
- Use fewer vendors.
