Congratulations on your engagement! As you embark on your journey into the wedding world, there's one vital step you simply can't afford to skip: defining your wedding budget. Trust me when we I say this – it's the cornerstone of a successful and stress-free wedding planning process.
Why Define a Budget? Setting a budget for your wedding is like having a roadmap for your dream day. Here's why it's so essential:
Financial Reality Check: Your budget sets the boundaries and gives you a reality check about what's achievable within your means.
Informed Decision-Making: It empowers you to make informed decisions about vendors, venues, and all the details that make your wedding unique.
Stress Reduction: Having a clear budget reduces financial stress, allowing you to enjoy the planning process and the big day itself.
Now, let's dive into how to define and track your wedding budget.
Creating Your Wedding Budget
The first step is to have an open line of communication about expectations. When the argument is about money, most the time the root cause of the argument is unmet expectations. Start by having an open and honest conversation with your partner or your parents about the budget and expectations from both parties. This sets the stage for a collaborative approach.
Next use a spreadsheet that helps define where you want to allocate most of your budget. Talk again with your family now about what is most important for you to invest in on your wedding day. Use this very comprehensive wedding budgeting spreadsheet.
I am bias because this is my profession but the one thing that you get to bring home from your wedding other than that leftover cake is your photo and videos. These are your only way to look back at your day and relive your memories. 30 years from now those photos and videos will only be more important to you. So I would recommend not cutting corners on your photographer or videographer.
Like I mentioned photo and video. According to this Fox 47 News article 76% of Brides regret not getting a video of their wedding day.
Tips for Tracking Your Budget
My first tip for tracking your budget is to identify early on what you want your bigger budgeted areas. These areas usually include your venue, catering, and photography. But it does not have to be in this order. There are no rules here, invest in your day in the areas that you would like and you can cut some things out that you feel make room to invest in the most important spots.
Also I would suggest to set aside a contingency fund (about 5-10% of your budget) for unexpected expenses. Trust me; it's a lifesaver. There will always be something small or large that pops up that either goes wrong or your want to get at the last minute. Saving for this makes having these little adjustments so much easier. There are so many moving pieces in weddings so its good to be prepared for the unexpected.
Finally try to review your budget every so often. There is typically a solid amount of time from your engagement and your wedding and things change. So its good to have monthly reviews and track if you are on or off budget.
How to Save Money on Your Wedding
Weddings are an amazing big event and one of the most important days of our lives. But that does not mean there aren't some ways to save money. For starters depending on when you are getting married you can save a solid chunk of change if you choose a winter month. Most the time off season months are cheaper to book your venue and especially if you find a Friday or Sunday that works for your date. My final tip would be to try to have your ceremony and reception at the same place. This not only will save you some money but it will also make your wedding day run much smoother with less moving parts and transportation!
In conclusion, defining your wedding budget is the foundation upon which your dream wedding is built. It empowers you to make informed decisions, reduces stress, and ensures your wedding day aligns with your financial reality. So, take that first step and start your journey toward a beautiful and budget-savvy wedding!
Kommentit