Tuesday, November 8, 2011
How to Create Your Wedding Budget
When you first get engaged, you might be filled with such anticipation for the perfect wedding that you overlook the important detail of how you will PAY for your perfect wedding. Creating a wedding budget can help you from beginning your marriage in debt, and it can help keep you from spending too much on one thing, because you are better able to see the bigger picture.
First, decide on your total wedding budget amount. The easiest way to do this is to follow this simple equation:
Once you have determined your total budget, break down your wedding budget into categories.
Each category should get a specific percentage of your budget. This will give you a limit of spending for each category. If you spend more than your estimated amount on a category, decrease the amount of another category accordingly.
Here is a basic breakdown of how much each category should consist of:
The third step of creating your wedding budget is to list all items within each category. Be as specific as possible. While making purchases for your wedding, you can refer to this list to keep you on check and to decide wether or not certain items or services are suitable for your budget.
Update your budget as you make purchases and you will always know where you are in terms of your wedding spending.