How to Create a Wedding Budget You’ll Actually Stick to

Wedding planning can be very difficult and stressful. Follow these tips to create and manage the best budget for you!

By: Jen Glantz

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How to Budget for Your Wedding

One of the least romantic parts of planning a wedding is sitting down with your fiancé and determining your budget. How much do you want to spend on this wedding and how are you going to stick to that number when you’re tempted to upgrade your catering package? What if you fall in love with a dress that’s thousands of dollars more than you ever dreamed it would cost?

When you’re starting to figure out a budget for your wedding, remember these seven tips. They'll help you create an accountable game plan for your spending, so you can make sure your finances are in control during your wedding adventure.

Work Backwards to Get Your Number

Start by figuring out the total amount you're willing to spend on your wedding. Find that number by looking at your financial situation and how much you believe you’re equipped to spend on the party without taking on very much debt. Determine if family members will offer to pitch in to pay for part of the wedding or cover a vendor. See how much you want to use from your current savings accounts and how much cash you plan to save from now until your wedding day. Having this number to start off with will let you make better wedding decisions and keep you honest about sticking to a budget.

Create Your Must-Have List

When you’re trying to figure out how to delegate the money inside your budget to different items and vendors, start off by making a must-have list. What are the top five things you and your fiancé care about the most? Is it the food or the music? The flowers or the cake? When you have this list ready, it will be easier to identify what you want to spend money on and what you’re willing to spend less on, or even cut out of your budget all together.

Research Local Pricing

Before settling on a budget, research the average prices your local vendors charge. That way, you’ll be able to have a true idea of what this wedding might cost and how much you should put aside for each vendor. If you find that the average wedding DJ in your area charges $2,500, you can decide if you want to spend less to save in this area, or spend that amount (or more) because finding the best DJ is important to you and your fiancé.

Search for Discounts and Sales

If any of the items or vendors you want for your wedding are out of budget, consider keeping them on hold and searching for them at a discounted price. For example, let’s say you find the dress of your dreams, but it’s $300 more than your dress budget. Instead of putting it aside to find another one, take down information about the dress and do some research to find it at a lower price. This will prevent you from splurging and will keep you motivated to follow your budget, all while you have your eyes peeled for discounts and special offers.

Plan to Save Monthly

If your overall budget requires more cash than you have in your savings account and you’re not eager to rely on family to help you pay — or you don’t want to take on too much credit card debt — there's another way. Determine how much money you want to save up each month to contribute to your budget. When you plan to do this in advance, you might start to lower your overall budget (because saving can be challenging). You might also want to identify areas in your life where you can temporarily cut back on spending. Mapping out your monthly expenses and savings will help you fund your wedding budget.

Determine a Vendor Payment Schedule

You can also plan a better budget if you know when your vendor payments are due. Some vendors will ask you to pay in installments or all upfront. Knowing how much you owe each of your vendors, and when you’ll have to pay them, will allow you to plan properly. This will also help you determine how much you can pay with cash and how much you'll have to put on a credit card. All of this will empower you to keep up with your budget and will give you mini stop signs if you’re starting to go over that initial number.

Track Your Budget Monthly

Creating a realistic budget that you promise to stick to is only half the battle. Keeping track of purchases and spending is the other half, and it can be tricky. When wedding decisions ramp up and you find yourself booking vendors and buying decor, it can happen so fast that you forget to track your spending. Set a date each month (like the first or last day of the month) to sit down and update your budget. You can reflect on how much you’ve spent so far and see how much money you have left. That way, you can make smart spending decisions that will help you stick to your budget.