The Importance of Setting a Wedding Budget

Setting up your budget should be one of your top priorities when preparing for a wedding. Whether you plan on having a big or a small event, creating a benchmark for your expenses will make it easy for you and your partner in the long run, and this can also be a start for you to get accustomed to creating budgets in your marriage.

We answered some questions below that couples usually ask during the planning stage of their wedding.

Why do we need to set a budget when we’re prepared to spend so much?

When you start planning for your wedding, discuss with your partner a realistic budget you can work on. Most couples experience arguing about money once in a while, and you would want to steer clear of that.

Although you know that you can spend a lot for this special event, knowing your finances and expenses would help you avoid stress along the line. For example, you’re looking at an expensive venue that you like a lot, so you pay for the non-refundable deposit immediately. However, you realised after doing so that you want to spend more on an excellent photographer and now plan on changing the location. There really may be times that it will happen, but you can avoid acting on impulse if there is a budget that you want to stick with.

If you set a wedding budget and discussed everything before paying suppliers or buying trivial things, then you can manage your expenses better.

How do we set up our wedding budget?

Talk to your partner how much you both are willing to spend on your wedding. It is crucial to discuss how much each of you can contribute so that you can estimate how much you should spend on your special day. If there are certain pledges of contribution from your friends or family members, you can also include it in your budget.

Congratulations! You now have your wedding budget set.

How do we stick to our wedding budget?

After setting a budget, the next thing to do is to create a wedding checklist. You can start listing the most important items in your checklist down to the least important ones. By doing so, you will know where your money should or should not go.

Once you have your wedding checklist, look for reliable and trustworthy suppliers and discuss with them all the included fees. Doing some research and getting quotations from two or three suppliers from the same industry would help you assess which one to book.

If you don’t know where to start, you can visit The National Wedding Directory to help you with that. This will make it easy for you since you have lists of suppliers in different categories. From venues to bridal accessories, they have got you covered. Another way of finding suppliers and getting promos or freebies from them is by attending wedding expos. You can also ask for recommendations from the people close to you.

For other ways on how to stick to your wedding budget, you can read more here.

So there you have it. We hope that this article helps you in preparation for your wedding. We wish you all the best!

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