Creating a wedding budget (“financial framework”)
You’re engaged and it’s time to sit down with your partner and create a wedding budget. I know. I know. It’s no fun. Honestly, it’s a word I cringe at. So let’s replace that term with something more elegant… let’s call it a “financial framework” for now. Before you start shopping for dresses, and vendors…get together with your partner and decide how much you plan to spend on your wedding or elopement.
You wouldn’t go to a car dealership without a plan in mind, right?
Prioritize Your Money
Make a list of EVERYTHING you want to spend money on…including things that may seem silly to you. Each of these things need to be included in your wedding budget.
Next, from that list, select the things that are your absolute MUST-HAVES.👀
Do Market Research
Unless you’re a wedding expert, you need to do some research.
Spend some time on the web doing market research to get ballpark estimates and get an average. This will give you a better picture of how much these services cost so that you know what to expect when planning, and how much to include in the wedding budget when you reach out to vendors.
Don’t just use your opinions! 😜
Pick your “big-ticket” items
These are labeled “big ticket” items because they’re very important. and oftentimes the more costly items:
…You guessed! High-quality photography can definitely be one of these. Because after the wedding is complete, along with your love for each other…your invaluable photos are the one thing you’ll have left. So don’t try to cut back in this area. There are no re-dos!
Some other common big-ticket items to add to your list are:
- videography
- venue
- catering
- open bar
- wedding dress
