Setting a wedding budget may seem like a daunting task. But once you’ve decided how big, or intimate, the celebration will be and started setting goals, you’ll find that it’s easy to put a number on the cost of celebrating your big day. Here are a few tips to help you get on track.
Set a date
You don’t need to decide on a specific date right away. Just pick a month and a year so you can set a timeline for you and your spouse-to-be. This way, you’ll know just how long you need to prepare or save up.
Decide how big you want your wedding to be
Will you have a grand wedding, or one attended by a select few? How many guests do you plan on inviting? Which parts of the wedding are you thinking of splurging on? It’s important to get a rough idea of the celebration you’re going to have so you can plan accordingly. Enumerate the services you want to avail of and then do a little research on the average cost of each. Are there parts of the wedding that you can DIY or forego? Will it be more economical and time-efficient if you DIY some things?
Will you shoulder all the expenses?
In the Philippines, it’s common for the families of the soon-to-be-married to help cover the expenses of their wedding. In some cases, however, couples opt to pay for everything. Talk to your partner about how you will share in the expenses. While it’s nice to be able to shoulder all the expenses by yourselves, it’s a good thing – not to mention practical – to accept help from people who offer it.
Don’t count gifts.
Finance blogger Jill Sabs shared that one of the reasons why she and her husband struggled financially in the past was they assumed that the gifts they would be receiving during their wedding would be enough to cover some of their expenses. She and her husband splurged on a few things for their union and then ended up being in debt because the monetary gifts they received did not equal what they spent. It’s good to plan and think ahead — not too far ahead, though.