Budgeting for your wedding

For most people, the cost of a wedding is somewhat of a shock. Did you know that the average American couple spends anywhere from $23,000 to $27,000 on their wedding? Whether you have a lot more to spend, or don't want to pay anywhere near that amount, to ensure you make the most of the money you do have, setting a budget for a wedding is a very important thing that has to be done from the very start.

Its important to find a method of budgeting that suits you. You may want to set your budget by determining how much money you have to spend on your wedding and then moving forward from there. A lot of people opt for this option because it is the easiest route. In other words, you can only spend the money that you have; anything else is simply not available. This forces you into working within your budget. On the other hand, you can opt to count up all of the money you have as well as how much money you need to have the wedding that you would like. With this option you will have to figure out if you are going to get money from your family, friends, a loan from the bank, or by other means. If you want to have an extravagant wedding this is an option that you may have to consider.
In order to effectively budget for your wedding you will need to know how much money you are working with. From there, you will then need to decide what you want to spend your money on, allotting it to the different aspects of the wedding. This should help to ensure you don't go over budget.

As a rule of thumb, the more formal a wedding is the more money it is going to cost. The formality of the occasion needs to be reflected in each an every aspect of the wedding, from the venue to the food to the transportation, you name it. This is not to say that a formal wedding will not be within your budget, but if you are really trying to cut costs your best option may be to go with something that is a bit informal. This may allow you to increase your spending in other areas that are of interest to you.

Of course another huge budget consideration is the number of guests that you invite to your wedding. Obviously, the more people that you invite the more money you are going to have to spend. For this reason, if you are going to have a lot of guests you need to be aware that you will need to have a larger budget. To go along with this, you may be able to cut back on costs in the food department. If you provide a full three course meal to every guest that you invite, you are going to spend much more than if you simply have a buffet set up. Again, cutting out some of the more upscale offerings, can help you to afford other items that may be of higher importance.
Also, keep in mind that the area you are having your wedding in will greatly affect your costs and your budget. The more upscale and populated the city, the more money you are going to end up paying. This holds especially true for tourist locations. If you are planning a wedding in one of these areas, you will want to make sure that you budget for it. But there is an advantage to this; you can have your honeymoon in the same location!
When it comes down to it, you may simply not have enough money to do all the things that you want to do. If this is the case, you will have to begin cutting costs in a couple of areas. As far as where to cut costs, that decision is up to you and your fiancé. Some people prefer to cut down on the invite list so that everything else can stay the same, whereas others will want to make their reception a bit less formal. Simply put, it is a personal decision based on preference.

One thing that works for a lot of people that run into budget restraints is hiring family to help out with areas that may be a bit expensive. Even little thing such as having a family member make craft projects like table centerpieces can save you a bit of money - you'll find your savings all add up. Chances are if you ask around you will find some family members that would be willing to do whatever they can to make your day truly special.
It is important to remember that a budget is in place so that you will keep to it. Even though you may be greatly tempted at times to overextend your bank account, the best thing to do is prioritize and make your money work for you. Even if you are working with a small budget, you can still get pretty much everything that you want if you learn how to use some cost cutting techniques along the way.
Set your budget up front and stick to it. If you do this you will set the tone for the rest of the planning, and will make the process much more enjoyable for everybody that is involved.