Wedding Budget

Set a Wedding Budget and Who is Contributing Financially?

Wedding Budget

An important step in planning and organising a wedding is setting a wedding budget. Everyone’s budget will be different depending on how much money you feel you would like to spend and that you have available for your wedding. Depending what stage of life you are at, the amount of money you have available to spend on your wedding will vary.

You may find that you have other priorities to take into consideration such as children or a mortgage. This is why setting a budget right from the start will give you a guide to planning your wedding and will help you along the way to only spend what you can afford.

Who is Contributing Financially to Your Wedding?

As part of writing a budget you also need to know who will be financially contributing to your wedding. These days, traditions are not followed as much as in the past and therefore it is not uncommon for more than the bride’s parents to contribute financially to a couples wedding. There are many situations where both the groom’s parents and bride’s parents are involved, or you might find that the bride and groom are in a position where they can pay for the wedding on their own.

It can get very complicated, so it is a necessary step to sit down and have a conversation with all involved parties and see where everyone stands and their feelings on the matter. If parents can contribute, they may choose to give a set amount of money or perhaps pay for certain items such as the bride’s attire, the ceremony or the reception.

PiggybankHow Much Money is Enough to Plan the Perfect Wedding?

There is no straight and simple answer to this question. There are many varying factors when setting a budget and it really is something that only the couple can do themselves. I could tell you that an average wedding cost these days is $25,000.00, BUT what is average? Depending on the amount of wedding guests and you and your fiances’ priorities, the wedding budget and how much money is enough will vary significantly.

If you consider that the average cost of a reception is approximately $100 per head, this will give you a good starting place. Add on to this approximately $50 per guest for the ceremony. The remainder of the budget will vary depending on your priorities.

Prioritise Your Wedding

What I mean when I speak about prioritising your wedding is that no two couples are the same, everyone has a different idea of their dream wedding. To work out what your priorities are sit down with your fiancée and both write out a list each of the most important things to you at a wedding, then compare the two lists. Warning!! you will have to compromise on some of your priorities, it is rare that your lists will match exactly.

Discuss your lists and why you rated the items the way you did. Use your combined priorities to work out your budget and how much you want to spend in each area. For example you may both decide to compromise on having an expensive photographer so the bride can have the dress she wants.

Don’t Be Unrealistic with Your Wedding Budget

You will never be able to stick to your wedding budget if you are unrealistic about the cost of items from the very start. There is no problem with trying to save money in some areas and “budget” does not have to mean sacrifice, but be realistic. If you have no idea about the cost of particular wedding item then do some research, even if it is simply asking recently married friends how much they paid for things. Do not waste your time putting unrealistic figures in your budget.

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