So, you said “yes” and you are now engaged to be married – congratulations! Getting engaged is a moment of magic in your life that you will never forget and you are sure to be showing off your diamond rings. You will be elated and eager to get started with the wedding planning, but it is important that you do not rush ahead as the costs can very quickly add up! This post will offer some guidance on how to set and stick to a wedding budget so that you do not end up spending more than you need.
Setting a Budget
In terms of setting a budget, every couple will be different. Communication is key here, so you need to sit down with your partner and agree on how much you are happy to spend. There might be parents or family members that want to contribute, so you need to factor this into the amount that you are prepared to spend. You can then break it down into different spending categories, which will include:
- The venue
- The ceremony
- The bar
- Flowers and decor
- Dresses and suits
- Music and entertainment
- Hair and makeup
Tips for Sticking to a Budget
So, you have a budget in place, but how do you stick to it? It can be challenging when there are so many different costs to cover and the prices involved can vary so much. One of the best approaches is to start off with the biggest costs first – a general rule of thumb is that the venue, food and drink should be about 50% of your budget. Once you have these booked and paid for, it then becomes easier to budget the rest of the costs.
A good way to stick to your budget is to agree the essential wedding related elements with your partner. You are both likely to have a few ideas about the ‘must-haves’ for the event and these should be the next things that you get booked in. You can then leave the things that you are less concerned about about until nearer the big date.
It is also helpful to brush up on a few of the best ways to keep your costs down. There are lots of ways to make savings on a wedding, such as:
- Getting married during an off-peak time
- Having a small wedding
- Enlisting the help of friends and family instead of hiring professionals
- Rent instead of buy
Every couple will want to have their dream wedding, but it is important that you have a clear budget in mind before you start booking anything. The cost of a wedding can very quickly spiral out of control, so you need to agree on exactly how much you have to spend and then work together to ensure that you stay on budget while still planning the best possible wedding.