How To Create A Wedding Budget
Let’s Get Cent-sible
Now you’ve had time to enjoy your engagement bubble and you’ve taken a glance over your legal requirements it’s time to start planning. With that in mind the first thing you need to do is sit down and discuss The Wedding Budget. Sometimes this can seem like a daunting task but once you have this in place it sets a template for your big day. Don’t worry I’ve compiled a few pointers to help you along the way so you’ll know exactly how to create a wedding budget to suit you both.
Take A Realistic Look At Your Finances
From the beginning, be honest with your other half. Money can often be a taboo topic for some couples but if you are upfront from the start it lays a good foundation for future discussions within your marriage.
– How much can you both realistically and comfortably afford to spend?
– Based on monthly incomes how much can you both reasonably save between now and then?
– Have either of you got an existing savings account that you are willing to dip into?
Not as expected as it was maybe when your parents were getting married but on occasion parents or other family members like to make a contribution towards the wedding. If you are approaching this topic with your family do so gently and be prepared to hear “I’d love to, but I can’t”.
Based on the above, estimate your personal wedding savings and gifted financial contributions and WA LA you have a ballpark wedding budget!
Now, that wasn’t too painful was it? 🙂 You are now in a position to start allocating out what portion of the wedding budget you want to spend on your different suppliers.
Choose Your Non Negotiables
More often than not this differs between couples. Maybe an artistic photographer is the top of your list, but your partner really wants that bespoke dress or suit. Whatever it may be you each need to know what your one non-negotiable is. Once you’ve figured this out budget them in straight away. Allot a larger portion of your budget to these two items and that in turn will start to give you an idea on what is least important to you for the day.
Choose A Date Range
When do you want to get married? This can depend on many factors including your venue’s availability. Depending on the time of year or day in the week this can dictate quite a significant price difference. But setting a date range will enable you to get started and give you flexibility when looking at your venues.
Does your wedding budget match the actual cost of your ideal wedding? If not, where can you make adjustments? Perhaps you can cut the guest list or choose a less expensive wedding menu. Whatever it may be once your estimated budget and your ideal wedding are almost matching create your spreadsheet and allot a certain amount to each part of your big day
Open a separate joint savings account and set up a direct debit for the amount you are hoping to save each month. When it comes to paying suppliers etc it will all be in
the one place and easy to keep track.
There we have it a few simple steps to creating a wedding budget that will help get you started on your planning journey. When it’s time for you to start choosing your suppliers be sure to check out my Supplier Directory filled with a handpicked selection of Ireland’s Leading Wedding Suppliers.
Love & Sparkles,
For a more in depth guide why not check out Unveiled – Your Ultimate Wedding Planning Guide.