The First Steps to Creating Your Wedding Budget

Everywhere you turn you hear the word, “budget,” these days. You hear people budgeting their savings, their homes, their trips to the supermarket. Budgeting is a great financial resource for those intelligent enough to employ it in their lives. However, your budget isn’t just for your monthly finances and savings and retirement. It’s for everything in between. For example, if you’re planning your wedding, you’re going to want to know how to start creating your wedding budget. These tips should help you get started (and you’ll want to budget once you realize that the average small wedding costs approximately $23,000).

Talk to Your Fiance

You need to be on the same page. You’re not marrying him because you don’t talk to each other or have similar values, so don’t start ignoring his feelings now. If you want to spend $50,000 on your wedding (and you have that kind of cash to spend on it) and he isn’t comfortable with that, you need to know. You need to agree on a reasonable budget and talk about why you chose this amount before you start planning.

Make Your Guest List

Sometimes people tell you that you don’t need to make your guest list right away. However, you should. Making your guest list right away allows you to figure out plenty regarding your budget. For example, it helps you determine how much to spend on a venue that will accommodate your number of guests. It will also help you to choose your menu and drink budget, as well as your budget for wedding catering services. Go ahead and make that guest list; it’s imperative.

Find Out if Anyone is Helping

Traditionally the bride’s family pays for the wedding. Today, however, that is a tradition many people don’t abide by. Most couples pay for their own wedding. That doesn’t mean your parents don’t want to help out, though. Ask them if they want to, can afford to or were planning to – just don’t pressure them to – so you know what you have to work with.

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