{"id":6071,"date":"2021-07-20T11:03:22","date_gmt":"2021-07-20T17:03:22","guid":{"rendered":"https:\/\/www.shaneco.com\/theloupe\/?p=6071"},"modified":"2021-07-20T11:03:23","modified_gmt":"2021-07-20T17:03:23","slug":"7-tips-for-creating-a-wedding-budget","status":"publish","type":"post","link":"https:\/\/www.shaneco.com\/theloupe\/bridal\/wedding\/7-tips-for-creating-a-wedding-budget\/","title":{"rendered":"7 Tips for Creating a Wedding Budget"},"content":{"rendered":"\n
\"Couple<\/figure>\n\n\n\n

Congratulations, you\u2019re engaged! Once you begin the wedding planning process, one of the first things you\u2019ll decide on is a wedding budget. While social pressures can often conspire to inflate wedding costs, creating (and sticking) to a reasonable wedding budget can help ensure that your wedding will go smoothly \u2014 without breaking the bank.<\/p>\n\n\n\n

1. Understanding Your Financing<\/h2>\n\n\n\n

In order to create a comprehensive wedding budget, you must first have an understanding of your finances. What are you and your partner planning to spend money on in the short term? What about long-term? Compare your combined income and savings, along with estimates of other gifts or additions that may be put toward your wedding, such as contributions from family members. Figuring out exactly how much money you have coming in and what you want to spend it on in the future can make it easier to decide on a wedding budget<\/a> that makes sense to both of you.<\/p>\n\n\n\n

2. Estimate the Guest Count<\/h2>\n\n\n\n

One of the biggest factors in creating a wedding budget is the amount of guests you\u2019re planning to have at your wedding. There\u2019s a big difference between the cost it takes to throw a wedding for 50 people than one for 150 people. Talk about how you picture your wedding and discuss non-negotiables for your guest list with your partner. That way, you can both be on the same page when you decide on a guest count. Psst \u2014 don\u2019t forget to factor in plus-ones!<\/p>\n\n\n\n

3. Plan Out the Wedding Costs<\/h2>\n\n\n\n

Now comes the fun part! You can start mapping out some of the bigger expenses in your wedding, such as catering, the venue, the wedding dress, and the wedding bands<\/a> you\u2019ll say \u201cI do\u201d with. You may want to make a list of which items you value the most, so that you can prioritize your budget according to your wish list. For example, if you and your partner are huge foodies, then spending a little extra on the caterer while cutting costs for the venue may be the way to go.<\/p>\n\n\n\n

4. Create an Emergency Fund<\/h2>\n\n\n\n

Despite our best efforts in planning, sometimes, emergencies happen. Maybe you chose a venue that\u2019s outdoors and suddenly you\u2019re expecting tornadoes in June, or maybe your 6-year-old ring-bearer misplaced the rings. Maybe your forgot to include setup and breakdown fees in your original budget. No matter what the case is, it\u2019s good to have a little bit of your budget tucked aside for unfortunate incidentals. We recommend putting five to 15 percent of your budget into your emergency fund. You\u2019ll be glad you did!<\/p>\n\n\n\n

5. Research Your Options<\/h2>\n\n\n\n

It\u2019s well known that weddings can get expensive, which is why it\u2019s so important to do your research before making any big decisions when it comes to your wedding plans. Take the details into consideration when factoring anything into your budget, and don\u2019t forget to include \u201cextras\u201d that may be offered. While some venues include service and catering in the cost of renting, others may require you provide your own catering, or your own servers, or both. This means that those extra costs will have to be combined in your overall budget. Making sure you\u2019ve gone through all your options means that you know exactly what your budget is going toward.<\/p>\n\n\n\n

6. Track Your Spending<\/h2>\n\n\n\n

Little costs can add up, especially when it comes to weddings. You may not think adding that chocolate fountain for a few hundred dollars will make a big difference in your wedding budget, but every penny counts. Create an Excel spreadsheet, download a money tracking app, or go old-fashioned and keep a notebook around to make sure you\u2019re tracking your spending. Make sure to include things like taxes and gratuity as well. This becomes especially important when you\u2019re overwhelmed by wedding excitement!<\/p>\n\n\n\n

7. Save Where You Can<\/h2>\n\n\n\n

Believe it or not, there are a lot of ways to save and still have the wedding of your dreams. Here are a few ways to cut costs when it comes to your wedding budget:<\/p>\n\n\n\n