Planning a wedding is a whirlwind of fun and excitement. However, with all the romanticism comes figuring out how you are going to pay for this big event. Although determining your wedding budget may not seem glamorous, it is a task that must be performed. Here are three things to consider when determining your budget for this special day.
Where’s the Money Coming From?
The first step in determining your budget is figuring out where the money is coming from. While it is a tradition for the bride’s family to pay for the wedding, in today’s modern world, many families of the groom are also chipping in. In addition, more people are paying for their own weddings than they used to. Many couples also consider borrowing money to help finance the event. If you choose to go this route, make sure to carefully consider your options and do not borrow more than you can pay back. You do not want to start your married life off with financial stress.
Determining the Focal Pieces
By determining the focal pieces of your wedding day, you can get a solid idea of where to funnel your funds. For example, if looking like a million bucks is important to you, you will want to devote more of your budget to your wedding dress. If having a blow-out reception is your goal, you will need to set aside more money for catering and entertainment. Choose the elements that matter the most to you, and invest in those pieces.
Consider the Guest List
The biggest determining factor in your overall budget is your guest list. Because food and drink costs make up the most significant portion of most wedding budgets, the number of people who are attending your big bash will dictate the budget constraints. If you don’t want to leave anyone out, you may have to scale back your catering choices to a more reasonable amount. However, if you are going for a more intimate wedding and reception with fewer guests, you may be able to splurge a little more with the food and drink options.
Determining your budget is a big part of your wedding planning. Only you can decide what is most important to you as you take this next step in life. By carefully weighing all of your options for financing and what parts of the wedding truly matter to you and your partner, you will feel confident that you have made the best budgeting decisions.
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