Your wedding budget
From Wedding Planning Guide
Why is a budget important?
The budget is important because once you have sorted out how much you have to spend and on what it helps reduce the amount of stress you feel and gives you the control to make decisions needed to plan your wedding that are not going to throw other elements in your life out of whack.
Who is paying for what and how much can get complicated when there are more then two sets of parents. The last thing you want is where you have disagreements between estranged parents and/or family members. Usually you will get more tension over money, then any other element of your wedding. The sooner you take control, the less chance of potential problems appearing.
Not being clear about who is paying for what or letting others choose what they want to pay for what can also open up opportunities for misunderstanding, which can lead to disputes. This just put a damper on what is meant to be a real enjoyable happy time for you and your partner.
Who pays for what
One of the first things you will need to work out is who is paying for what. Traditionally the bride’s parents pay for most of the wedding expenses, although many people no long follow this tradition. Knowing who pays for what and where are you getting the money from, gives you the information need to know how much you have to spend in different areas, what type of options you have for a reception, how many people are you able to invite, etc.
Some of the things related to the budget you need to know:
- How much money do you want to spend?
- Who will be contributing to pay for the cost?
- What aspects of the wedding are the most important? (this is so you can prioritize where your spending your money)
How are you breaking down the costs?
- The bride and groom’s parents share the costs (evenly or one set paying more the other)
- The bride and groom and both sets of parents share costs evenly (one third each).
- The bride and groom paying for everything
- All parties agree beforehand what percentage each can contribute to the overall cost.
- Each party up pays a sum upfront, so you can then spend the money as needed
- Each party pays for different parts of the wedding (one pays for the wedding dress, one pays for the reception, one pays for the cars, etc)