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If you are currently planning a wedding, there are a few things you can do to make sure you don’t spend too much money on your wedding and stay within a budget.
It can be difficult — but it’s not impossible — to keep your wedding expenses in check.
Here are the 3 most important wedding budget tips…
#1 Don’t count on money you don’t already have.
I have seen many couples plan their weddings based on money promised to them from relatives.
The only bad thing: that money never materialized.
If a relative is promising you money for your wedding, it might be wise to ask for a check, or to have the money transferred into a special wedding account.
#2 Choose a budget and stick to it.
While this sounds like a no-brainer, many people fail to budget for the wedding.
Instead, they choose “a price range” that they think will cover all of the wedding expenses. When you set a budget for a wedding that way, you’ll find that the true expenses can quickly exceed that ballpark figure that you thought would cover the cost of your wedding.
So be sure to pick an exact dollar amount that you know you can afford. Plan your wedding around that number, and stick to it!
Here is an easy wedding budget worksheet.
Check out these wedding budget percentages, so you’ll know how much of your money should be going toward each item.
Very few weddings take place where something doesn’t go wrong on the actual wedding day.
Prepare for this now, so that when it happens, you can use cash to fix it quickly or call another vendor to use instead.
Your best bet is to set aside an additional 7 to 10% of your wedding budget for extra expenses — issues that might arise, beyond your control. That way, if you don’t need it for the wedding, then you can always use it to pay for after-wedding costs.
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- Wedding Sponsorships vs Splitting Costs With Another Couple
- How To Pay For A Wedding
I have been a certified tightwad since I became pregnant with my first child and decided to find a way to stay home with him. I enjoy sharing my experiences in my journey back to financial health and planning for a future — which will include sending 2 kids to college and early retirement.