Setting up a Wedding Budget in Five Steps

For most people, getting married is a once-in-a-lifetime event. They want to do it right and make it memorable. But, memories don’t have to come with a high price tag. Enjoy a day to remember and keep some money in the bank with a wedding budget and discount wedding favors.

Budgets are not handcuffs to keep you from getting what you want. In fact, their purpose is just the contrary. You can spend what you need to but a budget gets you to consider alternatives. It is a guideline that allows you to have what you want on your big day.

There are a few keys to setting up a budget for your wedding.

1. Decide on your categories. What do you need to spend money on? For instance, there’s the ceremony, the flowers, the music, the rehearsal dinner, the reception and etc. you get the idea. Each category is assigned a certain percentage of the total budget.

2. Choose a budget amount. This budget amount is made up of all the sources of income you want to devote to your wedding. This includes what you parents and future in-laws will contribute, what you have saved and any other monies. Nowadays it is not uncommon for couples to set aside money to have the wedding of their dreams. Parents can’t foot the bill like they used to since tastes have evolved and become more expensive.

3. Leave a discretionary fund. Leave at least three percent of the budget for last minute snafus. You don’t want to get a big bill at the last minute that sinks the wedding ship.

4. Use your imagination. What is the most important part of the ceremony to you? It is great to decorate and have wedding favors but how much money do you have to devote to them? If your church or venue is already beautiful as is, less money has to be spent on enhancing it. Party favors don’t have to be expensive to look nice and be appreciated. More money can be shunted to the dress or the cake when less is spent in other areas.

5. Enlist the help of professional friends. We don’t mean hire people to be your friends. Know any friends who are professionals? If one is a florist or owns a print shop, they can give you a discount or do your flowers or programs as a wedding gift.

A budget is not to constrain but to sharpen your focus for the big day. Use these suggestions to get the ball rolling. Even if you can afford a $20,000 wedding, you don’t have to spend that much to get what you want.