Every wedding has a budget, be it small or large. But how do you decide on one? How much should you budget for? What should you budget for? This guide can help you decide.
Setting your wedding budget, while the most tedious and difficult of wedding planning tasks, is one of the most essential in planning your wedding. No two weddings are the same and each couple has to consider their unique wants and needs. But one thing is for certain— no matter what size your wedding is, who’s paying, or how long it is until the big day, there are some things you need to know about setting your wedding budget.
Who’s Paying and How Much?
One of the first things you should do when setting your wedding budget is talk to each of your families. You need to determine how much of your wedding finances will be placed on your shoulders. You can approach your families and ask them for a dollar amount or you can ask them to fund a specific part of the wedding. For example, you can ask the bride’s family to pay for the ceremony and the groom’s family to pay for the catering costs.
What to Do with What’s Left
Once you know what or how much your family can contribute, it is time to determine how much you can or are willing to contribute. When setting your wedding budget, don’t underestimate the cost of your wedding. Talk to friends that have been married recently to get a rough estimate. If you can’t find anyone to ask, then consider the amount that wedding experts suggest: $2,500 for a 150-person wedding, and go from there.
Leave a Little Wiggle Room
When setting your wedding budget, make sure you leave a little wiggle room. In almost every wedding, there are little extras you may not think about during the planning process. Some experts suggest budgeting an extra 5% of your overall wedding cost just in case you need extra. Also, don’t forget to set aside money for your honeymoon when setting your wedding budget.