Budgeting for Your Big Day: Learning How To Set A Wedding Budget By Finding Financial Harmony Amidst Wedding Stress
Deciding on the best budget for a wedding can be stressful; there are just too many things to be done within that single special way. But don’t worry much about that; we’re here to assist you to come up with a perfect wedding regardless of the budget at hand. In this blog you will find about how to set a wedding budget.
You need to consult and organise; the rest will fall into place pretty easily thereafter.
Whether you want a romantic wedding on the beach side, or a lavish one in a top-end hotel, or even a simple church wedding with less than a hundred friends and families; whatever your choice, you will need to have a budget that encompasses all the ideas you’ve decided to inject in the wedding.
As you begin planning and organising, these are the questions that you must have the answers to:
Who’s financing the wedding?
In some families, the parents decide to pay for their children’s weddings. Other times, the couple may pay for the wedding with little help from friends. You must discuss this point with your friends and family just to set the record straight.
As a couple, speak to each family separately to have a candid and progressive discussion.
Usually, you can suggest that the family commit to an amount they’ll be okay with and then combine it with what the other family can offer. You can add up the figures and decide whether you need to chip in a bit more or whether the amount is enough.
You can also opt to have each family pledge what aspect of the wedding they’ll finance; for example, one side may take up the responsibility of catering while the other manages decor and hall rent.
Splitting the day’s activities
Once you have handled the funds’ issue and know the amount at your disposal, start breaking down the day’s activities.
The reason why most weddings have hitches and inconveniences is that some planners take individual tasks for granted.
Allocate a budget to every activity and ensure you have a back-up for a just-in-case kind of scenario.
Usually, the Reception gets the lion’s share of the budget, followed by attire, photography, music/entertainment, flowers, transport, and wedding rings, and so on so forth.
Professional wedding planners will tell you that, even with the best planning and budgeting, some things can and do go wrong. So, have about 5% of your total budget set aside for a just-in-case scenario.
This is another important discussion that you need to have with your partner. Considering today’s economy, more and more couples are opting for intimate weddings with just their closest friends and families in a small but well-decorated hall. This allows the couple to save up more of the budget for their honeymoon.
Some honeymoon destinations offer you handsome discounts if you book early and pay in small instalments so this is something that you might want to look into.
Have an open discussion with your partner regarding the things that you “must-have” for your wedding and things that are not as important.
This helps you both be on the same page and understand the priorities.
Our final tip: Throughout the planning process, remain flexible. Unexpected changes may require shifts in your budget, so be prepared to adapt.
You can also download the budget checklists we have created here to help you with the process.
As a couple, don’t hesitate to consult and bring on board your families and friends during the budgeting. If you’re looking for a professional and affordable wedding planner to work with here in London, get in touch with us for some expert advice (no strings attached).
We are experienced wedding planners and can handle any wedding theme you wish. Our beautiful and spacious hall is easily able to handle over 1,000 guests. Our services also include wedding planning and catering but you’re free to bring your own caterers and planners to the venue.