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Budgeting is an essential part of almost every aspect of life. Whether you're saving up to buy a new car, a new house, or remodelling your house, it is very important to create and stick to a budget. However, planning a wedding is no different.
Weddings can be costly, indeed, and it is easy to go way overboard when it comes to spending, which is why it is important to create a budget and stick to it. So how do you create a wedding budget that covers the essentials? This article will make that easy for you.
Step 1
The very first, and most important step is to decide how much you have, and how much you are willing and able to spend on a wedding. The simple truth is that you simply cannot spend more than you have.
You should sit down with your fiancé and talk about how much you both can afford to spend on the wedding.
Step 2
The next step is to make a list of the major expenses. This will make it easy for you to track your spending. Major expenses like venue, food, etc, should be listed out and a tentative amount set towards it.
While these prices are likely to change, it helps give you a direction in which to plan your budgeting.
Step 3
Another important step is to make a list of everything you think you’ll need for the wedding. This includes everything from the most expensive and important things like the venue and food to the most mundane things.
Then, go over the list and cross out things that you could possibly do without.
Things To Consider
You should prioritize items on the list that you feel are more important than others, and then allocate funds to those items first, before attending to the items that are of a lesser priority. This is an effective way to save some money.
You should also strike out the things that someone else (e.g your parents or a friend) is paying for. You can then use the money for something else on your list.
A budget is practically useless if you do not keep yourself accountable. It does not make sense to create a budget and deliberately go over it. When you have created a budget, you should try to stick as closely to it as possible.
That is the only way to ensure that the budget will be effective.