Wedding planning and budgeting

Submitted by A Wig That Knew... on July 19, 2006 - 2:41pm.

Posted in | A Wig That Knew You Were Staring At It's blog | delicious | digg | reddit | 288 reads »

A web release notes that figuring out your wedding budget can be stressful. They provide tips to ease the stress involving suggesting it is preferable to talk to each family side separately to decipher who’ll be paying the bills. When the talks commence the web release also provides tips to help you set your initial budget.

  • Ask both of your folks to commit to a specific amount, and then add up all the contributions to create your budget.
  • Or call in each set of parents to provide wedding favors, and finance a particular aspect of the wedding.
  • Decide how much the wedding couple can contribute between now and the wedding. How much money do you need? Set your expectations according to the amount you can raise and the amount you need.The average cost for a 150-person wedding is about $25,000 (higher in urban areas).
  • Basic breakdown of what you can expect to pay: Reception: 48%-50% Ceremony: 2%-3% Attire: 8%-10% Flowers: 8%-10% Entertainment/Music: 8%-10%photography/Videography: 10%-12% Stationery: 2%-3% Wedding Rings: 2%-3% Parking/Transportation: 2%-3% Gifts: 2%-3% Miscellaneous: 8%
  • Set aside 5% of your budget for an emergency fund.
  • Remember to budget for the honeymoon.
  • Decide how much you can afford to save each month from your income. Begin saving from engagement.
  • Possible ways to save: save on the small stuff - renting movies instead of going out; going to Starbucks once instead of twice a day; downloading just the song you love instead of buying the whole CD e.t.c.
  • Try to make the most of money saved and earned. Stash cash in a frugal account or a money market account.