Dreaming of a wedding and preparing for a wedding are two different activities when we talk about the budget. But here are tips on how to discuss your wedding budget while keeping your dreams alive.
1. List all the things you need and research on how much these are from suppliers. Inquire to at least two or three suppliers about the cost of their services and compare. The top details to check are:
- The couples’ must-haves (clothes, the rings, accessories)
- Venue and styling
- Photography/Video services
- Clothes for the whole entourage
- Gifts and giveaways
- Accommodations for guests/ transportation
You may keep the list on your computer in a spreadsheet or have it printed. Keep it organized so you’ll always know the costs and you won’t miss on an important detail. After getting the total amount, you’ll now have an idea how much you’ll need to spend for that dream wedding to happen.
2. Determine the number of guests. Much of what you’re going to spend on your wedding depends on the number of the guests you’ll invite. Check the catering and restaurant choices you have and ask how much they are charging per guest.
3. Cut costs. Before you write down that final wedding budget, take a look again at the things you need to spend on and double check what you can do to cut costs. You may eliminate some elements you think will be redundant or switch to alternatives like sending invitations online instead of printing them.
4. Look for contributions. Help from your loved ones can be financial, labor, and other favors. All can help you cut down your budget. You may accept financial contributions. Some may volunteer to help in wedding organizing so you won’t need a wedding coordinator. Others can lend you clothes, décor, transportation, etc. for free or for a reduced rental fee.
5. Check your current financial situation and savings. Consider how much you two are earning and the bills you’re paying monthly. Will you have enough to set aside for the wedding? Or, is your current savings enough to cover the wedding expenses?
6. Take note of time. Another thing you need to consider in determining your wedding budget is how much time will you two allot to save up for the remaining amount you’ll need.
7. Set aside an emergency fund. It’s always easier to spend than to earn money. And as such, the couple should also save up for just-in-case and unexpected expenses and hidden charges. If you want to be more secure with your wedding budget, you can think of ways how to earn on the side. Part-time jobs or investing in stocks are only some activities that can help you and your partner save extra bucks.
8. Approach a loan with caution. Availing a loan is another way to get that remaining amount you need for the big day. But it can be your last resort since you do not really want to pay debts while adjusting to married life. Remember that your wedding is just one day to celebrate your union with your guests. You can still make that day special without being unrealistically lavish.