Budgeting Your Wedding Is Your Very First Step To Planning!
When you buy a house, a good realtor will take you to the bank to find out what you can afford. There is no sense spending time looking at homes that you can’t afford. Like buying a house, there is no sense booking a venue only to later find out you can’t afford it and lose your deposit.
Before setting a date for your wedding sit down together and figure out how much you can afford. You may have to move the date back in order to save for the wedding that you want. If your parents are helping out or paying for the whole thing find out exactly how much they intend to spend and stick to it. You may consider taking out a loan, but be honest with each other: Do you really want to start out your marriage in debt?
A wise decision would be to open a bank account together that is just for the wedding and honeymoon. This will help to keep your finances in perspective. If you open an account with a debit card, or a credit card together you might consider getting one that pays a percent back or gives you air miles that could be used toward your honeymoon.
I see quite a few couples these days forgoing their honeymoon in lieu of a bigger and more extravagant wedding. I know that you have probably heard some women exclaim that they have been married 10+ years and are still waiting for their honeymoon. It’s not that they didn’t want a honeymoon. Life’s expenses and the cost of having children have kept them from it. I feel that the honeymoon is just as important if not more than the wedding itself. It will be the memory that gives foundation to your marriage. Your first trip together as man and wife should not be to visit your mother-in-law! For this reason I would insist on putting the honeymoon in the same budget as your wedding.
Once you have determined how much you are going to spend, now you can work on the date. If you are going to be saving toward your wedding figure out how much you can both put away per month. If you can each put away $250 per month and your goal is to save $3,000 then you can plan a date 6 months away.
Next question is how many people do you want to invite? This too will depend upon your budget. Check out prices of reception halls.
*Tip There are some places that do not charge for the rental of the hall but only charge per place setting. They will however, have a minimum.
Be aware that everyone from the photographer to the venue will want a deposit. Read their contracts carefully.