What To Do FirstFiguring Out Your Wedding Budget
Nothing can seem more stressful than figuring out your wedding budget. But have no fear, it doesn’t matter if you are planning a lavish affair or an intimate get together, answering these questions will help you figure out how much you should expect to spend to make your dreams come true.
Who Will Contribute To The Wedding Budget?
Some bride’s families will still pick up the whole tab, but more often these days the groom’s family will contribute to the wedding budget as well. And of course it is common for many couples contribute to their own wedding budget as well. When you do talk to those who will contribute financially to the wedding ask them to commit to a specific dollar amount, and then add those numbers together to determine your wedding budget. Alternatively it may be easier to ask them to finance a specific portion of the wedding, such as the ceremony, honeymoon or entertainment.
How Much Should You Expect To Spend On The Wedding ?
When it comes to financing a wedding you need to figure out how much you will need to spend in order to get what you want. The average wedding these days costs $27,000.
Here is a basic breakdown of what you can expect to pay:
Wedding Rings: 2%-3%
So How Much Should You Save For The Wedding ?
As soon as you’re engaged you should start putting aside as much money as possible to pay for your wedding. 20% of your monthly income is a good goal. Remember, the longer you’re engaged the longer you have to save for your dream wedding and the less you’ll have to sacrifice in order to make your wedding budget a reality.
Once you’ve figured out what your wedding budget should be, you can start looking for ways to stretch your dollars even further!