Sticking To Your Wedding Budget

Sticking to your wedding budget doesn’t mean compromising your dreams. Rather, sticking to your wedding budget will bring your fantasy to life without compromising your future finances. By sticking to your wedding budget, you prove you are ready for the responsibilities of married life.

More than half of couples today wind up spending more than they planned. Sticking to a wedding budget involves organization, discipline and responsibility. You also need to realistically estimate the cost of your wedding expenses. Wishful thinking only leads to falling short on your wedding budget.

Keeping track of your wedding expenditures is essential to stick to your budget. When you don’t know what you’re spending, it is impossible to stick with your wedding budget. Have a journal to keep track of what you spend. It can be a notebook, binder, folder or computer program. Use the method that is most comfortable for you or you will wind up slacking off. Also, keep track of your earnings and money coming from other resources such as parents. Have accurate records of all money coming in and out for your wedding. Start saving early so you have the most cash on hand.

Have a separate bank account for your wedding expenses. By doing this, you don’t spend money for your wedding on other bills. You will also have an immediate idea of your resources from the bank account balance. What you have in the wedding account is exactly the amount of money you can spend on your wedding plans. Another option is to use a credit card with the money backed up in a separate bank account. Often credit cards guarantee certain purchases and may offer reward points for other items. You will have an accurate record of your expenses on a credit card and can pay off the balance from the wedding account every month so you don’t pay interest charges.

Spend about 10 percent less than your actual budgeted amount. There will always be unanticipated expenses. By spending 10 percent less on your expenses, you will have the extra money to cover unforeseen costs. Expenses often overlooked when planning a wedding budget include tips to vendors, postage for invitations and thank you cards, dress pressings and marriage license fees.

Don’t be afraid to cut back on certain expenses. While lobster tails and prime rib are delectable, your guests will be equally happy with fish and steaks. Keep your wedding within your budget and don’t be tempted to go for the pricey options. While a five-course meal may be luxurious, a three-course meal is perfectly acceptable. If you don’t want to invite extended family and friends, minimize your guest list to save even more money.

Sticking to your wedding budget means shopping around for the best deals. Allow yourselves enough time to comparison shop rather than planning a rush wedding. With extra time, you can get better prices. Barter with vendors to get their best prices. Talk to friends and family to get recommendations. Keep track of price quotes in a folder so you can compare them when making your final decision.

Get creative when you can. Instead of using a florist for your centerpieces, create your own with ribbons and silk flowers. Rather than purchasing chair markers, make them from tulle. Send homemade wedding invitations and thank you cards. Make wedding favors for your guests. Putting in a bit of creative work can save you a bundle on various wedding expenses.

Remember, you don’t need to spend a lot of money to create a loving, unforgettable atmosphere. Put your passion and preferences into your wedding day to create a truly unique theme. Reflect the theme throughout your wedding ceremony and reception for a professional, uniform feeling. Beautiful memories are created by the loving mood of the couple rather than spending money you don’t have.

Sticking to your wedding budget ensures you start married life in a responsible, financially secure manner. After all, sticking to your wedding budget shows you are able to plan well together. This type of planning will help you reach all your other financial goals as a married couple. A budget is not restricting but empowering as it helps you both achieve your dreams regardless of your income.

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Source: This article was contributed by Wedding-Favours.ca, an e-commerce store for Unique Wedding Favours and Wedding Place Card Holders in Canada