Personal Finance

Laying out a wedding budget

Laying out a wedding budget is as important as planning your wedding. It is one of the first steps you should do to ensure that your wedding will not end up on the rocks before you get to the chapel. Here are some simple tips which help you to lay out a successful wedding budget.

The first step in laying out a wedding budget is to discuss about the finances you have in your hand. It is better to include everyone in this discussion. The decision making process helps you to get a rough idea about how much money you need to make your wedding budget a success. It is a good idea to start saving money very early for your wedding. This lets you to maximize your budget.

Once you have decided how much cash you have in your hand for your wedding, the next step is to gather your wedding expenses and put it into separate categories. Some of the common wedding expenses include venue, groom’s attire, bride’s attire, photography, food and drink, entertainment, transportation, centerpieces, gifts, and favors. It is recommended to save some money for any unforeseen expenses.

You have categorized all the common expenses, now you need to manage contracts for wedding services. This step lets you know how much cash you need for each service you lend for your wedding. For example, if you have fixed $300 for entertainment, find out a DJ whose rate is nearly the same amount you fixed and then talk to them and try to arrange them for a lesser rate (for example $250). If they agree you can save some dollars. This is applicable not only in entertainment; try this example with all the services you have planned for your wedding, such as transportation, photography, food and drinks etc. By doing so, in the end you will save considerable amount of money and can remain under your wedding budget.

It is a good idea to shop around and check the prices for services before you make any sale or seek any service. If a company you first chose is outside your allotted price range, tell them about your planned budget, chances are there that they will provide their services at a lesser rate if you negotiate better. If they are not affordable, find out some other who provide the same service in a lesser rate.

Sometimes you need to go over your budget for some expenses, if so don’t get upset you can adjust the additional amount by cutting of some expenses in some other area. For this you must be conscious about your expenses and check whether you are in line with your budget.

Decoration is another area whether you may spend large amount of money. Decide what should be the mood of your wedding party. That is whether it should be romantic, contemporary or classic. It is better to compare one or two wedding decorators before you select any one. Tell them your budget and try to negotiate at a rate while is well suited for your budget.

Laying out a wedding budget is the first step you have created to make your wedding expenses meet well. A good wedding budget will help you to save considerable amount of money on unwanted expenses and meet your goals.