A wedding is a huge event in most people’s lives, and it will also be one of the most expensive. As such, it is so important to make sure that you budget for them accordingly. There is a lot that goes into a wedding budget, so here are a few things to think about as you start planning for your big day.
Figure out the Amount You’re Going to Spend
The biggest question in all weddings is how much you can spend. This is a tough question, but also the most important. For some people, this is fully or partly answered by family: many parents still traditionally pay for the wedding, and have a predefined budget already. Another popular alternative is for a parent to say you have X amount, and whatever you don’t spend on the wedding is still yours for your future.
If you’re not getting a parental contribution to your wedding, you need to really look hard at your own budget. Even the cheapest wedding will cost a few hundred to a few thousand (the average US wedding currently costs about $22,000). The biggest rule of thumb is to not go into debt for your wedding because that is a terrible way to start a new life together.
Plan Your Spending
The second part of the equation with budgeting for a wedding is planning your spending appropriately. For many, you start planning your wedding over a year in advance. As part of this planning, you should be getting costs for all parts of your wedding event:
- Reception – Food, Beverages, Rentals, Room/Hall
- Flowers
- Photography
- Wedding Attire (Dresses and Tuxes)
- Music
- Other Stuff – Invitations, Transportation, Party Favors, etc.
And with almost every category of spending, you need to decide on a price, agree to it, and the place a deposit. That means that your budget needs to include both wedding spending right now, and more spending as you get closer to your event. There will be different expenses all along the way, so make sure that you take that into consideration in your budget.