5 Wedding Budget Tips for Stress-Free Planning

First – congratulations on your upcoming nuptials! I imagine you’re giddy (and super busy) picking songs, colors, flowers, a cake, a dress, and a venue. Soon enough, if you haven’t already, you’ll find yourself wondering, “How will I pay for this?” As the financial reality begins to sink in you’ll realize – I need a wedding budget!

Depending on how elaborate your plans are, saving for a wedding can be a significant financial undertaking, which may seem daunting or overwhelming. No worries, with a solid plan (and enough time) you’ve got this.

Here are a few tips to get you on track:

1. Determine a Timeline

If a wedding date has been set, based on choice or venue availability, establish your wedding budget based on how much you’re able to save each month.

If a date has not been set yet, remember, you’ll need to be able to set more aside monthly if the big day is sooner. So, if you want all the bells and whistles, give yourself the time you’ll need to save for your dream event. A more distant date can also reduce the financial stress and make it easier to secure your top choice of photographer, DJ, etc.

Review the The Ultimate Wedding Budget Checklist

2. Be Realistic

Don’t just start setting money aside, estimate how much you actually need. Research the cost of venues, food, a dress and tux, flowers, a photographer, and anything else you see as essential.

Create a list of every potential expense you can think of, including the cost of sending invitations, the officiant, transportation from the ceremony to the reception, and the marriage license fee. Sort them into necessary and desired. Prioritize and rank those that are nice to have but not essential.

Read 24 Hidden Wedding Costs You Probably Haven’t Thought Of

3. Open a Separate Savings Account

Set up a savings account specifically for your wedding expenses to separate the funds being allocated to the event. This will let you easily track what you have been able to save and remind you of what you still need to set aside. It may also keep you from overspending on the many extras that can nickel and dime your wedding budget. Consider setting up automatic transfers from your paycheck to the account.

Read How to Plan an Affordable Wedding, According to Experts

4. Track Your Progress

You’ll soon find that the spending doesn’t exactly line up with your plan. That’s OK and 110% normal! No worries, you’ll just need to adjust your list as you make wedding purchases.
Rachel Wong
How to Pay for a Wedding: Keep Costs Tame & Organized

Don’t set it and forget it! Regularly review your progress on your savings goals, adjusting when necessary. To stay motivated, celebrate milestones and small victories. Don’t be afraid to revise your budget if you find a more affordable alternative or decide you don’t really need that champagne fountain.

Read 10 things you don’t need on your wedding day

5. Cut Back and/or Do It Yourself

Look at your current spending habits to identify areas where you can cut expenses. You may be surprised how much cash you can free up through small lifestyle changes (cooking meals at home) or eliminating subscriptions.

You don’t need to have everything, and everything you choose to have doesn’t need to be purchased. Could you take care of some of the decor yourself? If someone attending is artistic, enlist their help in lieu of a gift. Homemade items can relieve pressure on the wedding budget while adding a more personal touch.

Read 39 Wedding Decoration Ideas You Can Make Yourself

Bonus Tip – Ask for Contributions

You may be surprised how many family members are not only willing, but want to help with your wedding expenses. For family, openly discuss how they’d like to be a part of the day and whether they’d like to contribute anything toward the wedding budget.

When you register, consider skipping some of the items on your household wish list and, instead, having guests contribute to your honeymoon.

Read Best Honeymoon Registry Sites