How to Build a Wedding Budget
If you just got engaged and don’t know where to start planning, look no further! Wedding planning can be challenging, especially when it comes to budgeting. Here are 3 tips to help you when planning your wedding budget.
#1 Consider What You Can Afford
You don’t want to go broke planning a wedding you can’t afford. Consider what you have in your savings and how much you’re willing to spend from it. If you plan on saving during the wedding planning process, get with your partner and determine your combined monthly income (minus) all bills and miscellaneous expenses. Once this is figured out, you’ll have a better idea of how much money you can save for your big day.
#2 Determine Your Priorities
Once you have a budget, determining what your top priorities are for your wedding is the first step to properly allocating funds. Sit down with your fiancé and discuss what’s important to the both of you for your wedding celebration. You might prioritize music, food, and flowers, while your partner might prioritize an open bar, photo booth, and lighting. See what you’re willing to compromise on so you can stay within your budget.
#3 Nail Down Your Guest List
Your guest list size will determine how much you’ll need to save for your venue, food/drinks, entertainment, etc. With that being said, strongly reconsider inviting that second cousin that you really don’t know just because your parents want you to. As a general rule, plan to budget at least $100 per guest. Going off your priorities, find a balance between guest count and event experiences/aesthetics. If you’re planning a wedding on a tighter budget, one of the easiest ways to reduce costs is to invite fewer people and have a more intimate celebration.
After following these three tips, you’ll have a much better idea of how much you’re willing to spend and what you want to spend it on! Don’t let your budget convince you that you can’t have a beautiful day. The trick to planning an amazing wedding is making the most of your budget, which may take some creativity and flexibility, but it’s entirely doable!