How to Set a Wedding Budget

In Planning & Tips

Setting up a budget is a crucial and wise decision to make before you start spending. Manage your savings with our 3 tips below.

Break Up Your Budget:
Most couples make the mistake of setting as little budget as possible for each service and item. They eventually become stressed out when they spend any money at all. The best thing to do is to first break up your expenses into different categories. Define a budget for each item such as a budget for limo, wedding cake, etc. It might also be helpful to research the general cost for each item to use as a guide. Download our free wedding budget spreadsheet to help you get started.

Prioritize:
If someone means a lot to you, often times you don’t mind spending more money on them. The same applies to weddings. If you want to have quality photos to look back on for years to come, set aside a larger budget for a photographer and wedding album. For services or products that are not as meaningful to you, find a creative way or a DIY project instead. You can also try cutting your guest list down to the most important people and having fewer services or products.

Buffer Your Expenses:
Don’t run too lean. Weddings are expensive and some costs are uncommon. If you planned on a very tight budget and don’t have a contingency, you will become stressful and out of options. Set a realistic and comfortable budget that allows for some leg room when those unexpected expenses shows up.

 

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