How To Stick To Your Wedding Budget
The proposed budget for your wedding can be one of the most problematical areas once you have said ‘yes’ and begun planning your big day. You and your fiancé or family might have different ideas about how much you are willing to spend on this special occasion, and even if you have already set a budget, disagreements might still ensue once you start making bookings and putting down deposits. It’s amazing how quickly that budget disappears, and how tempting it is to ignore this financial limitation!
Thankfully, our BCME expert panel member and wealth and wellness coach, Rasheda Khatun Khan at www.rashedakhatun.com, has some fantastic advice to help you both stick to your budget. If you’re beginning to get frustrated or are experiencing disagreements with your partner about the budget for your wedding day, have a read below and take on board Rasheda’s recommendations.
Wedding planning can become so overwhelming. The dress, flowers, shoes, catering, guests you ‘have to’ invite and, to top it all off, the sheer cost of everything. Not only are your emotions out of whack but your bank balance is most likely taking a huge hit too.
Unless you’re a professional Event Planner, this wedding is probably the first time you are organising a big event, which means that no matter how organised of a person you are, things will get messy. Add in emotions to the mix… well…. it’s a recipe for an emotional breakdown. Fear not fellow brides and grooms, if you have your budget in order then the rest will run like clockwork.
Having a structure around your wedding budget will make the logistical side of organising a whole lot easier. It will also ensure you stay as close to your budget as possible.
First things first though….
1) You have to be realistic with your budget
Many couples have an amount in mind that they want to spend but have no idea what things cost. This will cause serious financial distress all through the run up to the wedding and even afterwards as everything becomes a surprise and unexpected. Think about the wedding you want. Make sure you and your partner share how each of you would like it all to be. Include of course the ‘Big Day’ but don’t forget the night before and the morning after, the honeymoon and travel costs for overseas family and friends.
Now start to crunch some numbers. Are family members going to contribute financially? Who’s putting in what? Create and set a clear budget. Prioritise what is most important to you both and make sure these are the things you don’t compromise on. Identify what’s a must but not necessarily that important to you – remember these are the things on which you can compromise.
Make things match – estimate and re-evaluate what you want and make it fit your budget.
2) Hold yourself accountable
Have an excel spreadsheet. List everything you need to spend money on and keep track as you go along. Click here for a free downloadable wedding planner budget sheet.
Keeping track will really help you stick as close to your budget as possible. It is so easy to overspend. When you can see your numbers in front of you, you can quickly and easily make the right decisions. Remember you have a life to lead after the wedding. Make smart choices.
3) Be smart
Ask yourself if you know somebody who would be happy to provide you with something on your list. Use all your resources. For example, do you know a friend or family member who can make the wedding cake? Do your parents have a beautiful garden you can use for the reception? Do you have an event planner in your network? Really start to think about who you know, what services they provide and who you are comfortable to approach. This way, you can either reduce your cost to zero or at the very least get a reduced price.
And finally, a quick tip when things get hairy. Have an anchor. What are the top three most important outcomes for your wedding? For example, it might be:
♡ We want our guests to have a fun time
♡ We as a couple want to enjoy the day
♡ We want to have prepared our own vows
So, in times of distress, breathe and remember what your most important outcomes are. The likelihood is that whatever is stressing you out has no impact on what’s most important.
Enjoy your big day, it will be beautiful.