Wedding Chicks

How To Build Your Wedding Budget

From the dress to the lighting, it may be overwhelming figuring out how to build your wedding budget. Thanks to Promise Financial we have 10 of their top tips for creating a wedding budget with all of us! Click here to see their tips and some lovely inspiration that will ensure everything goes as it should, for both you and your bank account. Photo: Studio Impressions
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How To Build Your Wedding Budget
From the dress to the lighting, it may be overwhelming figuring out how to build your wedding budget. Thanks to Promise Financial we have 10 of their top tips for creating a wedding budget with all of us! Click here to see their tips and some lovely inspiration that will ensure everything goes as it should, for both you and your bank account. Photo: Studio Impressions
1. Start Early: It’s important to create your wedding budget early in your planning process. Wedding budgets reduce the stress of planning by helping you stay prioritized and ensuring no last-minute surprises. PC: Hayley Paige
2. Research: Understanding typical wedding expenses —at least at a high level— will simplify and improve the accuracy of your budget. Speaking with your recently married friends, reviewing recent wedding cost surveys, and browsing wedding blogs are a few great ways to get a rough sense for the numbers. PC: Archetype Studio Inc.
3. Communicate: Have open and honest conversations with your spouse and parents before building your budget. These conversations are important to answer key questions, such as how much everyone can contribute. Talking about money can be difficult, however it’s much better to do it early in your planning process than at the end.
4. Use Existing Tools: Once you’re ready to build your detailed budget, find a good wedding budget tool that you feel comfortable with. A number of great (and free) tools can be found online by searching for “wedding budget tools” – check a few out and decide which seem best for you. PC: Lindsey Orton Photography
5. Prioritize: Create a prioritized list of your “must haves” and which expenses you can tighten. It’s important to figure out what really matters to you because there are gives and takes in every budget, and without prioritization that process can become difficult and time consuming. PC: Sonya Khegay Photography
6. Get Detailed: Combine your initial research and overall budget, and begin listing which expenses your wedding will have and the estimated cost of each. This takes time, but it helps to be as detailed as possible (note: good budget tools often assist by listing common expenses). PC: Austin Gros
7. Over Estimate: Avoid setting an unrealistic budget and include a 10% to 15% cushion in your cost estimates. Unfortunately, final vendor costs often exceed initial estimates (especially when tips are added in), and it’s better to assume this is coming than be surprised at the end. PC: Katelyn James Photography | Holly Heider Chapple Flowers
8. Update: Keep your budget updated as you plan your wedding. Sunday nights are a good time to regroup with your future spouse to review your current plans and expenses vs. budget. You’ll likely find that certain expenses are lower or higher than initially expected, and it’s helpful to discuss the tradeoffs and prioritization. PC: Artography
9. Explore: As you discuss the tradeoffs of various expenses, explore interesting ways to cut costs. Friends and wedding blogs are great sources of information on ways to create a truly unique experience while cutting costs. Be creative! PC: Christine Chang Photography
10. Don’t Stress: Having a wedding budget is important, but don’t stress about getting every number “right”. Things will change as you do more research, and you can always update your budget later. Your budget is a tool to help you, not create additional stress. PC: Watters