HOW DO YOU SET A WEDDING BUDGET?

January 8th, 2015

 

WEDDING BUDGETs

Newly engaged couples across he world are whispering to each other, “How do I set a wedding budget?” – creating a wedding budget is one thing, sticking to it is an entirely different problem, especially when suppliers put an extra ‘0’ at the end of anything with ‘wedding’ in front of it.

 

You’ve probably been planning your wedding long before you got engaged. Whether you’ve been planning it in your head or in a binder started with friends at school (hidden from your groom to be for fear of scaring him away), you’ve probably got a pretty good idea of what your wedding will look like.

 

That sometimes becomes a problem. When planning a wedding, knowing what you want opens the door for realisation or disappointment to muscle their way into your planning. It soon becomes apparent that, either you can’t afford everything that you’re planning or you’re going to have to spend a lot more than you thought to get everything you want. You might need to cut a few corners, take a few risks and prioritise the things that matter but rest assured whatever your budget, you’re going to have an amazing day.

 

When I got married it did feel as though the inclusion of the ‘W’ word guaranteed the parting with a shed load more cash than I would have liked but I’ve realised it was worth every penny. A good wedding vendor works hard to get the details right and they impart their wisdom, giving away tips and tricks that you might not have previously thought of so get in touch with the suppliers.

 

Depending on where you are with the wedding prep you might have already realised that sticking to a wedding budget is a matter of logic vs. emotion. Once you’ve reached Pinterest saturation take a break from the wedding inspiration and follow these steps to create your wedding budget.

 

Prioritise

What are the most important things to have at your wedding? Are the flowers more important than the photographer? Do you care more about the catering than the wedding car? Sit down with your fiancé and write a list in the order of priority so that you both agree what is bottom of the list.

 

Research

So you know that the wedding dress is more important than the bunting but this doesn’t matter if you don’t know what everything cost (roughly). Start looking round at some of the average costs of the products and suppliers. Are the wedding gowns that you’re in love with average £1,000, £3,000 or £10,000. Do you know how much a wedding cake costs from bespoke cake maker, and what price do bands and DJs range from? All of these things can vary so familiarise yourself with how much things cost to avoid disappointment.

 

Check your bank account

Armed with a rough idea about how much things cost you can set a budget. It’s time to work out what you can afford to spend. Decide what you want you have available at the moment and what the shortfall is. Once you know how much you need to spend you can work out a saving plan, which might determine how long the engagement is going to last.

 

Visit the bank of mom and dad

Realising that your engagement might last the best part of a decade to get your dream wedding, you’ve got a couple of choices. You could start compromising on the dream items, cancel the Rolls Royce driven by Jenson button or rethink Pharrell Williams’ performance at the reception. Alternatively, you could go cap in hand to mommy and daddy and hope they’ve already been saving for your wedding.

how to set a wedding budget