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6 Essential Tips For Creating A Budget

by Louise W. Rice

Weddings are one of the most important days in a person’s life. You’re joined with the one you love forever, to love, and to hold. This will entail spending good money and putting a lot of things into consideration. Hence, before the glamorous party comes to the wedding budget breakdown.

Budgeting for weddings helps with focus and clarity. It helps you visualize what you’re dealing with, the wedding you can afford, and how to go about it. You’ll find this in typical wedding budgets, which constitute wedding expenses breakdown and the percentage allocated to them.

So, if you’re planning your wedding, let these wedding budgeting tips guide you.

  • Create a budget before the market survey

One of the importance of creating a wedding budget is to keep you in check. It will break your heart to fantasize about a venue, cake, decor, or dress and realize that you cannot afford it. So, have a price limit or range for every task, even for things as intricate as gifts on a budget.

Once you’ve fixed price limits, begin your survey within the amounts you’ve set, from vendors to everything else. The information you get will help you reasonably reset your budget if need be. However, you must remember that moderation is key. Never get into debt to host a wedding.

  • Bring all hands on deck

Previously, the bride’s family footed the wedding bills. But these days, couples, families, and friends chip in to help. So the first thing to do is call everyone and ask what they’re willing to contribute to the wedding. It may not be monetary all the way as some people may want to pay for the rentals, DJ, etc. Others may chip in cash donations or choose to pay for your honeymoon.

Whichever way they help, you know what you’re dealing with by the end of the day. You’re certain about how much you have and what task to strike off your list. With this clarity, you can set a budget to suit your resources.

  • Break budget into percentages

Come down to the micro-level by activating the wedding cost breakdown. Here, you’ll allocate cost percentages for each wedding task. For instance, the food, entertainment, and wedding venue will take the bulk of your money. This should amount to about 40% of your total budget.

Another factor to consider when breaking down cost is the priority. You must prioritize tasks by their importance and sentiments because they will impact others. For instance, you could cut down the price of your dress to pay for your dream venue. The groom may also choose to rent a tux so he can pay for his dream band. Something must give except you’re financially solvent enough to splurge.

  • Bargain with vendors

If you want to get the best deals, learn to bargain. Your dream vendors may be willing to tailor their services to suit your budget as long as you’re upfront. Let them know how important their touch is to your wedding and tell them your budget. Ask for discounts or reach a compromise. They could give you a discount on the premise that they’re allowed to place their cards on the guest’s tables. It may be a reduction in hours or staff strength. It could also be a slash in the price for the number of hours they work. Don’t be afraid to ask. The worst reply you’ll get is a no.

  • Keep a close tab on your expenses

Keeping a close tab on your expenses helps you monitor your wedding planning progress. To achieve this, the organization is key. Get printable planners, spreadsheets, or create a page on Google doc. Enter each task, its estimated cost, real cost, and how much you spent. Document every payment you’ve made, contracts you’ve signed, appointments, and vendors. Ensure to include the dates that are important and save them.

If other people are paying for the wedding or you’ve hired some help around, share the document with them. This will make recalling your expenses easier when you take inventory after the wedding.

  • Prepare for extra costs

While planning your budget, we advise that you make it flexible. Set out about 5% of your wedding budget for miscellaneous expenses. These amounts seem small, but when they pile up, they will amount to a bulk sum. For instance, tips for vendors, officiant, DJ, the Batista, etc., may come up.

The weather may also switch moods unexpectedly. You may have to chip in extra cash at your hair or makeup trial. How about an extra night at the hotel or a damaged item that you need to quickly replace? These are some of the unexpected circumstances that the miscellaneous stash will handle. Never sweat the small stuff, but stay prepared.

Above are simple and actionable tips for wedding budget breakdown. This guide will help you host a seamless wedding with little mental stress.

anastasiaAuthor Bio: Anastasia Beluschenko, with a specialty in wedding dresses, joined Wedding Forward over five years ago. She knows everything about wedding dresses from styles to trends, fit, and designers. Her great sense of style makes it easy for her to expertly predict the newest and hottest wedding dress trends. For leisure, she loves court tennis and stretching.

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