We know wedding budgeting is no small task. It is stressful and overwhelming at times – heck, all the time. You have to worry about how much money there is, how much should you spend for this, how much you should spend for that, how much you have left, and so on. So take a deep breath and let’s think about it logically! With the help of Jessica Bishop of the Budget Savvy Bride, we are breaking down how to prioritize your budget, step by step to help take some of that stress away.
- Set the overall budget
First things first, figure out what the overall number is. Figure out what you two, as a couple, plan to contribute and then find out if any family members will be contributing. Add that all up, and you’ve got your total.
- As a couple, compare your top three priorities
It’s quite possible that you and your fiancé have different priorities for wedding day. Maybe a wedding dress is a priority for you but a good band is a priority for him. Each of you should make a list of your top three priorities and then compare and compromise on what the priorities will actually be.
- Consider the budget contributor’s priorities
If you have anyone else, like your parents, contributing to the budget, now is the time to get their input. It can be hard to consider everyone’s feelings, but it’s necessary to at least talk about it and get everyone on the same page.
- Think about the guest experience
Now that you know your priorities, consider how those priorities affect the guest experience. Sure, it’s your wedding day and you should be able to do what you want, but look at it this way – you are essentially throwing a big party, and you are the host. All good hosts consider their guests and you should, too.
“It is your day, it's about the two of you as a couple but you're inviting these people to celebrate the day with you, so you do want to treat them to as good of an experience as you can with the budget that you have to work with,” said Jessica.
- Set category budgets
Now that you’ve prioritized, and maybe reprioritized, go ahead and set budgets for each category. For the categories that are more important to you, make sure you allot the above average amount to account for your priorities.
- Reevaluate along the way
Last but not least, make sure you are checking in and tracking your budget along the way. Maybe you’ve booked your top three priorities and they all fell under budget. Well, now you have a little extra wiggle room in your other categories.
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About this week’s guest contributor: Jessica Bishop is the creator of The Budget Savvy Bride, an online resource to help couples plan a beautiful wedding on a budget they can actually afford. By sharing practical tips, personal advice, doable DIY projects and approachable inspiration, The Budget Savvy Bride educates, equips, and empowers couples to plan a wedding they are proud of and that truly represents their values. Jessica has been nationally recognized as a budget wedding expert. Jessica's first book, The Budget-Savvy Wedding Planner & Organizer, is available on Amazon.
Photo Courtesy of All Saints Chapel