Budgeting For Your WeddingSunday, February 09, 2014
Planning and budgeting for a wedding can be very stressful and might cause a lot of disagreements. Weddings are held to celebrate the love between two people, and constantly fighting over it would defeat the purpose of this celebration! Heard of the story of how this couple who held a 110k wedding ended up in debt? (Read here) I'm sure none of us would want to fall into that trap. So here's some budgeting tips for couples planning for their wedding!
1. Set a comfortable budget
How much are you guys willing to pay for the wedding? Would that be stretching yourselves? Do you have to take up loans?
2. Determine how much is each party paying for the wedding
Would the groom be covering all the expenses or would the bride be chipping in as well?
3. Research Prices
While researching, I realised that the price difference in packages can differ greatly, so it's important to know roughly what you want and how much that would cost. This would probably be the time to determine your priorities as well, decide which aspect of the wedding you'd rather splurge on. (Eg: Rings, wedding gowns or photography?)
Some useful information:
- Hotels generally raise their prices every year, be prepared to spend at least $1388++ for 5 star hotel locations
- Quality bridal packages with local designers would usually cost at least $3000 and above for rental of 2 gowns, 1 tuxedo, bridal bouquet & corsages, actual makeup and wedding car decoration
- For wedding rings, do check with the store if there are upcoming price hikes. We were lucky enough to purchase my ring at Bvlgari a few weeks before the price hike! Also, for girls with skinny fingers like me, remember to buy your ring early because it will take 3-6months for most stores to resize the ring.
- Remember to pay for big ticket items with your credit card for lots of points!
4. Do up a wedding budget checklist
When I first did up my budget list, I got a rude shock as to how much the entire wedding is going to cost! I find it a lot easier to plan after seeing all the numbers written down on paper.
Here's an example of a wedding budget checklist I did for myself :)
- Church Wedding Decorations
- Bridal Gown Package
- Pre Wedding Shoot
- Bridesmaids and Groomsmen Outfit Subsidy
- Floral Decorations
- Wedding Rings
- Wedding Carriage
- Bridal Accessories
- Actual Makeup and Hair
- Hotel Decoration
- Tea Ceremony ( Tea set , cheongsam etc )
- Actual Day Photographer/Videographer
- Miscellaneous ( Eg: Photo Booth / Candy Bars etc )
5. Determine what is necessary and what can be eliminated
After looking at the crazy amount of things you have to spend on, it's time to start eliminating unnecessary expenditure! At this point, if you're over your budget but you really really want a candy bar, maybe you can DIY one with your bridesmaids at half the cost?
I hope this was useful! Do watch this space for upcoming Wedding DIY Ideas ♥︎