How to Create a Wedding Budget

Once you’ve basked in the glow of engagement, it’s time to start planning the beach wedding!  Unfortunately for those of us who despise organization, you’ll find it very difficult to get anything accomplished unless you have a detailed wedding budget. However, as you go further and further into the planning process, an outline of spending will become extremely useful to you so that you don’t end up spending more than you can afford.

Step One:  Plan

Start by thinking about the type of wedding you want to have. This means location (or beaches you are considering), number of guests, the formality level of the wedding, etc. Once you and your spouse have agreed on most of these elements, it’s time to research and figure out the approximate cost of everything. It is impossible to create a wedding budget without first knowing the estimated cost of the elements you want for your wedding day. For example, you don’t want to create a budget of $2,000 for an open bar only to find out that an open bar tab at your venue actually costs $5,000.

Once you’ve figured out the prices of the things you’d like to have at your wedding, sit down and figure out what you can actually afford. This is also the perfect time to have the dreaded talk with any other people that are going to be contributing to your wedding (i.e. parents).

Step Two:  Prioritize

Think about the items that are the most important to you (i.e. the band/dj, catering, the photographer, the wedding dress) and decide what percentage of your total funds you’d like to spend on those things, for example, 75%. This will help you be a little more flexible with your budget since you’ll be okay with spending a little outside of your budget on the things you prioritize, while going under budget (or doing without) things that don’t matter as much to you. Adjust your budget numbers to reflect your priorities.

Your turn: Sit down with your spouse and separately write down the 2-3 items that are most important to the both of you. Compare the two lists and figure out how you can combine them. Also, write down the 2-3 items you can both go without (i.e. simple flower arrangements vs. lavish ones).

Step Three:  Save Money

If you’re looking to cut costs, the first place to cut down on is the guest list. Each guest will cost you about $90, so the difference between having 50 versus 100 guests is HUGE. Additionally, look through your budget and cross off anything you absolutely don’t need.

Another easy way to cut down wedding costs is to have your wedding day outside of the peak seasons or mid-week. The most expensive months to have your wedding are March thru May and most popular day is Saturday!  If your on vacation for the week, a Monday – Thursday (more privacy, discounted hotel rates, airfare, and reception venues) can offer savings as high as 50%!

That’s all there is to it! Now start creating the day of your dreams.

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