Weddings are notoriously expensive, but this doesn’t mean you have to spend a fortune. There is a wedding for all budgets. It is simply a case of getting your finances in check and determining how much you have available. You can split up your budget effectively to ensure that all aspects of the day are covered, from the food served to the stunning dress you (or your bride) wears. With that in mind, read on to discover how to create your wedding budget.
- Research – The first step is to conduct a considerable amount of research. You won’t be able to create an effective budget if you do not have a rough idea regarding how much venues in your area cost, as well as catering, entertainment, and all other important elements. You can also join forums online and interact with those that have already planned their wedding for some advice. Here is an insight into the hidden costs of a wedding, which you may find useful.
- Consider all of your financial options – Are you going to be footing the bill for all of your wedding? Or, will your parents be contributing towards it? Have you considered a loan? If you want your dream wedding, and you know you can afford the repayments if they are spread out in manageable monthly chunks, this could be an option to explore. There are many different types of loans available. A guarantor loan may be worth thinking about, i.e. a loan secured by another person. Take a look at some basic guarantor loan details, as well as information on guaranteed loans, which could be secured against your property instead, and determine the best option for you if you are going to borrow money.
- Make a priority list – Now that you have an idea how much everything is going to cost, how you are going to fund your wedding, and how much money you are going to have available, you should make a priority list. This list needs to include all wedding elements that are important to you, for example, your dress, photography, and catering. You can then attribute a portion of your budget to this, for instance, 75%, leaving you with 25% to spend on the rest of your wedding.
- Look at wedding packages throughout different parts of the year – You will spend a lot of money if you decide to get married in the middle of summer or during December. Instead, why not consider a different time of the year and save some money as a result? No matter where you are looking to get married, you can guarantee there will be some really great deals for January through to April. November is another well-priced month.
- Make smart wedding dress savings – Last but not least, you can make some smart savings when buying your wedding gown without missing out on your dream dress. For instance, it is a good idea to get on the mailing lists of a number of bridal gown shops, as you will receive special offers and notice of any discounts. Have you considered hiring a dress instead of buying one?