The Best Wedding Budget Plan

3 min read

wedding budget plan

This article will show you how to make a wedding budget plan in the right way. Wedding planning should be fun! It should not stress you out or leave you broke. Any engaged couple becomes excited to plan their wedding, but then feel stressed when they dive into it and see how expensive the execution will be.

We are here to show you the common wedding budget mistakes that couples regularly make and how to avoid them while creating the stylish wedding of your dreams. Maintain a spreadsheet of your wedding expenses. Your accounting knowledge will be put to the test here. You will also pick up budgeting and money management skills. Remember that there are always hidden costs.

You might also want to read All You Need to Know About Personal Finance

The Best Wedding Budget Plan

Your goal should be to remain debt-free at the end of your wedding and have the perfect, dreamy wedding you always wanted! Here are three general precepts that should guide you.

Step 1: Figure Out Who is Contributing How Much to the Budget 

Step 1: Figure Out Who is Contributing How Much to the Budget 

Usually, there is the groom’s side of the family and the bride’s side of the family in a heteronormative relationship. Whether you are two grooms, two brides or one groom and one bride, you will have to get one conversation out of the way before you proceed.

You have to determine your overall budget by talking to both sides of the family to see who will pay for what. We suggest that you have three separate discussions to avoid any conflict and embarrassment. First, talk to your partner about how much they can contribute from their savings and tell them how much you can.

Then, ask your respective parents if they are planning to contribute, and ask them to be upfront about how much. If you have already talked, congratulations! You have got the first step out of the way. Now that you have determined your initial budget, you should proceed to the next step.

Step 2: Determine Your Guest List

Step 2: Determine Your Guest List

Determine how much you want to shell out for your wedding meal. Find the per-head cost for food and drink with your catering of choice and then determine how many guests you can afford to feed at that amount. The fastest way to lower costs is to pare down your guest list.

Make the list as intimate as possible by inviting your closest family and friends. Invite the guests who know both of you well enough to celebrate your love on your special day.

Step 3: Save the Date!

Step 3: Save the Date! - wedding budget plan

Do you want to have a summer wedding or a winter wedding? Decide the exact date and time of your wedding (preferably at least a few months later to give yourself adequate planning time). A weekday wedding will have to be at night but a weekend wedding could be during the day.

Summer weddings are more expensive in some countries and winter weddings are more expensive in others. You should find out which season is likely to be less expensive before you make a decision.

Plan your wedding for the off-season. While we are talking about this, here is a gentle reminder to not spend too much on unnecessary wedding stationery. You do not need to save separate save the dates, invitations, RSVP cards, envelopes, ceremony programs, escort and place cards, menu cards and thank you cards. As a good rule of thumb, you should have only half of the wedding stationery listed here, especially if you have a big guest list.

Step 4: Find the Venue

Step 4: Find the Venue - wedding budget plan

Here is where it gets fun. Now that you have chosen the date, you can finally start looking for a venue to book. You may initially be overwhelmed by the plethora of choices but you should search extensively for the one location that makes you happy.

Invest some time in finding and choosing the best location for your needs. Here are some considerations: Certain venues are more expensive than others, obviously, especially popular ones. Make sure that the venue you have chosen can accommodate your guest list and is available at the time you want your wedding to be in.

The venue will likely be the most expensive element of your wedding so proceed with caution! Remember that the larger your venue is, the more you will have to spend to decorate it. Remember that there are service fees as well that your venue will also charge you if you ask for servers who will help your guests throughout the venue, from taking their coats to serving their food.

Step 5: Choose Your Clothing, Menu, and Decor

Step 5: Choose Your Clothing, Menu, and Decor - wedding budget plan

After you have picked up your wedding suit and gown (you should say yes to renting the dress!), it is time to pick the rest of the vendors. A lot of your funds need to be allocated to the wedding menu; venue decoration and musical entertainment (if you choose to have any) because wedding photographers tend to focus on these three elements. Shop around for good deals on these.

A quarter of your wedding budget will be spent on this. Reduce the number of dinner courses – a simple, three-course menu can do wonders! Pick entrees, mains, and dessert with ingredients that are currently in season. Moreover, do not go overboard with the lighting, flowers and other embellishments.

Your wedding decor should comprise of all three, of course, but do not fill your entire venue with them. If, for example, you must have flowers, choose ones that are in season and grown locally to reduce costs. Minimalist wedding decor is taking the world by storm right now. Less is more these days as millennial is trending toward minimalism. They prefer elegant simplicity to dramatic extravagance.

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