Weddings are milestone events that call for celebration and merry-making. But celebration does not always have to come with an extravagant and expensive price tag. Simple and intimate wedding ceremonies can even be more meaningful than big and grand ones. One practical tool that can help couples navigate their wedding requirements and finances is a budget. But perhaps even more important than creating a wedding budget is actually committing and sticking to it. This article offers a quick tutorial guide on how to craft a reliable and effective wedding budget!
A wedding budget is a comprehensive budget that includes elements of a wedding ceremony and reception. A typical wedding budget contains a detailed breakdown of the different wedding expenses and requirements.
According to an online article by Investopedia, the average cost of a wedding was $28,964. The cost could be higher or lower, of course, depending on a number of influencing factors including the number of invited guests and location of the wedding.
A wedding budget would greatly depend on the preference and needs of the couple. A wedding budget floor or ceiling is relative and subjective. But in a general sense, there are several basic and universal components that are included in a typical wedding budget. The following examples explain and describe just some of these common wedding event expenses.
To create a comprehensive wedding budget, the key is careful planning and preparation. If you are looking for easy and reliable budget templates to use as reference, the wide selection of free wedding budgets above are customizable and available to download! Choose one that suits our needs and follow the basic steps below.
As mentioned earlier, budgeting requires careful planning and preparation. The first step in crafting a workable wedding budget is data collection. You have to do a considerable amount of research in order to better compare and contrast the current prices in the bridal market. Having a benchmark is a good place to start. Don’t just be content with one prospective supplier. By gathering as many vendor quotes as you can, you can be in a better position to canvass and weigh various options. If you are a wedding planner, all the more should you invest in research and planning to present to your client. Unless the couple are adamant about a specific supplier, it is best to come up with a comprehensive list of prospects.
Once you have done the necessary research and preparation, the next step is to establish an appropriate format. A budget can be as simple or detailed as you need it to be. A basic wedding budget can be presented in a simple table or spreadsheet. The most practical way of creating a budget is by using Microsoft Excel. It is important to prepare a budget that’s organized and easy to understand. If you are pressed for time, Excel and other similar applications also come with several ready-made templates for their users’ ease and convenience. The key is in selecting the appropriate format that’s convenient and that works for you.
After deciding on a format, you can then proceed to detailing the different wedding expenditures. The list would obviously vary on a case-to-case basis. Some couples can afford to splurge on extravagant wedding preparations. But others prefer to economize and go for simplicity and modesty. Whatever the tastes and preferences of the couple, all possible expenses should be indicated in the budget. This includes both major and minor costs. From the caterer down to the invitations and reception giveaways, be sure to identify each item clearly and specifically.
The last step is to indicate any other important details in relation to the suppliers and wedding requirements. You have the option to place additional columns and notes in your spreadsheet or table. Information such as contact person details, reminders, and important dates or deadlines are just some examples. If you want a detailed wedding budget, it is vital to include relevant data and reminders. For event organizers and wedding planners, their task is to essentially oversee everything, including scrutinizing the budget and making the necessary changes or modifications.
What’s reasonable is subjective. Again, it would depend on the needs and preferences of the couple. However, according to The Knot, the average cost of a wedding in 2021 was $28,000. It’s important to remember that this value can still be adjusted and modified.
Recent data noted that the average cost of a wedding (for both the ceremony and reception) ranged between $26,000-$29,000.
To plan a budget-friendly wedding, you need to prepare accordingly. Using a wedding checklist and conducting adequate market research will help you budget and plan better.
Creating and sticking to a wedding budget can help couples avoid overspending and unnecessary debt. Browse the broad collection of sample templates above and get started on your own wedding budget now!
Did you know that about one-third of the global population consists of self-defined Christians? According to the Center for the Study of Global Christianity, around 2.1 billion people identified…
continue reading
One of the biggest dreams of our parents for us is to be in an university. They would often tell us about it even when we were small. That…
continue reading