How to Budget for Weddings
Not all couples have the fairytale budget to plan an over-the-top wedding. But that doesn’t mean you can’t have a beautiful wedding filled with the people and details that you love. Here are some tips to help budget for the wedding you want.
Find Out Who, If Anyone, is Helping
While money conversations can be tough, it’s important to know who your contributors will be to the wedding budget. Are both sets of parents helping? If so, how much are they willing to contribute? If it’s just you and your fiancé, how much do you have saved and how much can you spend on your wedding?
It’s All About Math
Figuring out your wedding budget is all about the numbers. How much do you have to contribute after receiving funds from other sources? Consider what you and your fiancé can realistically afford. This means looking at your monthly expenses as well as what you may be able to pull out of savings. This will determine your wedding budget.
Now that you have a ballpark estimate regarding what you can spend, you can plan your guest list. Keep in mind, the cost of the wedding is going to be determined by your guest count. Everything from the size of the venue down to the menu will be figured on the number of people attending. Choose wisely.
List Your Hard No’s
Most couples are going to have their own non-negotiables when it comes to wedding planning. You may want to have a five-tiered glamourous metallic wedding cake while your fiancé has his heart set on an open bar. You both should whittle down your lists of what you cannot live without and move on from there.
Research, Research, and Research Some More
Look at the fine print for every hidden cost a venue or vendor may have as well as the wedding cancellation policy. Also, keep in mind tipping should be factored in for vendors like the catering team and bar staff. Another pro tip is that the price of the wedding will vary by geographical location and season too. Most wedding-related venues and services are going to be more expensive during certain seasons and weekends.
Protect Your Investment
After you have planned, picked, and chosen the details of your perfect day, the last thing you should do to protect your wedding is to purchase wedding insurance. Wedding insurance can protect you from the following worst case wedding scenarios:
- Severe Weather
- A Bankrupt Venue
- A Bankrupt Vendor
- A No-show Vendor
Plus a handful of other bad luck situations could be covered by wedding insurance. A wedding insurance policy like the Wedding Protector Plan provides peace of mind that you will be covered if all heck breaks loose on your wedding day.
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