If you’re planning your wedding and are worried about your budget, there are plenty of easy things you can do to make it work well for you. The key here isn’t to be cheap; the key is to find ways to create the wedding you want without spending as much money as you otherwise would have had to. In this article, you will read about simple steps to creating a realistic wedding budget that works for you, saving you money and bringing you closer to the perfect wedding day of your dreams.
What is a reasonable budget for a wedding?
According to the Knot, the average cost of a wedding today is around $30,000, which doesn’t include the honeymoon or any other expenses you may have in addition to your big day. That figure can be overwhelming, especially considering that the average starting salary of college graduates is just under $40,000 annually. For most people, saving up enough money to pay for this high cost of an event can take years, if not decades, to reach. While saving up may be the right choice financially, it might also cause stress and anxiety as you approach your big day.
7 Simple Steps to Setting a Wedding Budget
Here are ten essential steps to setting a wedding budget, even if you’re on the tightest of budgets and have no idea where to start planning or how much money you need to spend.
Step 1: Figure out what’s important
The first step to creating a wedding budget is to sit down with your partner and figure out what’s important to you. What is your must-haves? What can you live without? This is where you’ll start deciding where to allocate your money. Do you want to go all-out on the food or save some cash by having a simpler meal? Do you want an elaborate ceremony, or would something simple suffice? Figure out what’s most important to you, and ensure that those elements are reflected in your final budget. And don’t forget to add amazing wedding centerpieces of Nuptio into your wedding ceremony.
Step 2: Create a preliminary guest list
Creating a preliminary guest list is great for narrowing your wedding budget. This will give you a better idea of how many people you’ll need to accommodate, which will help you determine your venue and catering costs. Remember that your guest list may change as you get closer to your wedding date, but it’s still helpful to have a starting point.
Remember not to include yourself or your spouse-to-be on the list; count yourselves as two guests for every person invited. You can also go through old photo albums or consult with friends and family members who were at previous weddings to see if they are interested in attending yours.
Step 3: Think about location and venue options
When budgeting for your wedding, one of the first things you’ll need to consider is the location. If you’re looking to keep costs down, opting for a less expensive venue or even getting married at a courthouse may be the way to go. However, if your heart is set on a particular platform, you’ll need to factor in the associated costs. Consider whether the venue charges per person, hour, or by plate.
You’ll also want to consider what amenities are included with the package and whether they meet your needs (e.g., food options). Finally, consider what services are required that you may not have considered (e.g., a videographer).
Step 4: Set your timeline and lay out your budget
When it comes to weddings, time is money. The sooner you can plan and nail down your budget, the better. You can avoid any last-minute scrambling and save some serious cash. What’s more, as you narrow down your guest list and eliminate pricey extras like full-course sit-down dinners or an elaborate DJ setup, you’ll be able to pinpoint exactly how much each item would cost. Buying decorations items from online retailer like inweder.com can save your money.
Step 5: Review all the costs you have already incurred
You have probably already spent some money by this point in the wedding planning process. Whether on a venue deposit, your wedding dress, or save-the-dates, review all the costs you have already incurred. This will help you understand how much money you have already spent and how much you have left to work with. If you are still unsure what that number is, create a detailed list of everything you need to spend for the remainder of your wedding.
Step 6: Cut costs in areas where it’s easy to do so
One way to save money on your wedding is to cut costs in areas where it’s easy. For example, you can ask friends or family members to help with the flowers or decorations. You can also DIY your invitations or favors. And, of course, you can always find ways to cut costs on your venue, catering, and other big-ticket items. Being strategic about where you miss charges can save you a lot of money in the long run.
Step 7: Set a final realistic wedding budget
It’s no secret that weddings can be expensive. But it doesn’t have to be unaffordable. Setting a final realistic and reasonable budget allows you to have the wedding of your dreams without breaking the bank. Here are five simple tips to help you create a budget that works for you.
1) Create a list of what you need for your wedding.
2) Break down your list into items by category (e.g., flowers, food, venue).
3) Estimate the cost per item from this chart.
4) Figure out how much money will come from each person/source.
5) Use this table to determine how much money will come from each person/source.
Getting married is one of the most special days of your life, and it’s important to spend time figuring out how you can make it even more perfect and memorable! Finding the right venue, caterer, and musicians will take some time, but planning your wedding budget will be even more critical. Creating a wedding budget that works for you can be quite difficult at first—but once you get your head around the process, it will become second nature to you!