Photo by Julia Luckett Photography via One Fab Day 2. That way, you know how much you have to work with, if they want their money to cover specific items (like your dress or the wine, for example), or if there are any other caveats to them contributing. If you know your parents want to contribute to your wedding, have the money conversation with them early on.If you're considering taking out a personal loan to pay for all or part of your wedding, make sure to shop around to find a loan with the lowest possible interest rate and terms you're happy with.While you'll be dipping into your account for deposits and expenses throughout planning, bear in mind that the bulk of the cost comes right at the end. So you have €5,000 in the bank, but you think you can get to €20,000 in savings by your wedding? Be realistic about how much you can save in the time you have.If that's the case, we recommend having a browse around our real wedding budget breakdowns, which detail what real couples spent on the big day. Lots of newly-engaged couples tell us that they have no idea how much a wedding costs, which is only natural if you haven't planned a big event before.So before you start, find a figure you can live with spending on your big day. A wedding can be a huge financial expense and the last thing you want is to regret how much you spent. This might seem like a straightforward step, but there are a few things to remember: Work Out How Much You Can Afford to Spend (And How Much You're Happy To Spend, Too!) Photo by Marion Heurteboust Photography via One Fab Day 1. Be meticulous with your record-keeping, and you should be in a good position to adjust your budget along with your plans, if needs be. A larger-than-usual contingency fund of 15% (see below) is a good idea, as many couples tell us that their ability to save money has been curtailed. Some couples prefer to plan for multiple outcomes (Plan A, B and C), which means multiple budgets. Our advice on wedding budgeting is that it's more important than ever to have frank discussions with your suppliers, and in writing, so you know where you stand financially if you cancel/postpone your wedding. So today, we're sharing our step-by-step guide to working out your wedding budget - and sticking to it! Photo by Alexandra Celia via One Fab Day But First, a Note on Wedding Budgets: And some have a working figure based on what feel happy to spend, but they never really know if it's realistic. But do you actually know how to work out your wedding budget? Some couples pluck a figure out of the sky. Without the weight of a stressful bank statement on your shoulders, you can fully enjoy your big day.We've talked in the past about how much a wedding costs, discussed why weddings are so expensive, and given you tips on how to save money on your big day. While the task can be tough, the result is rewarding: You'll feel organized and-most importantly-like you're able to afford your nuptials. Whether you're on a tight wedding budget or you're shooting for the stars, it's smart to come up with a definitive financing plan. Read through for all of our top recommendations-we promise they'll make things easier.ĭon't make the mistake of thinking some pre-wedding accounting isn't for you. We've also provided an array list of pointers related to setting your wedding budget, from looking at the average cost of a wedding near where you want to tie the knot to having an open and honest discussion with everyone who's chipping in. While every celebration is different, you can use this calculator as a reference point when planning your costs. Our template includes sample percentages of what to spend on each aspect of your event, from the flowers to the food and everything in between. Here, we're offering tips for how to budget a wedding.Īhead, we start with a wedding budget breakdown. We know it can be a headache to figure out exactly what you should spend on your big day, which is why we've put together our very best advice that'll help make the process simpler. There's research to do, there are contracts to read, and, of course, there's a budget to be planned. Not all aspects of wedding planning are fun.
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