Budget Planning for the wedding is the first thing which you have to decide after finalization of the wedding date. It is difficult & tricky at times as you have to plan, calculate & prepare your checklist then realign the celebrations with the budget. You may want to do many things but you also need to keep a tab on the budget. Following are some guidelines that will help you to finalize the budget:
- First you need to decide an approximate total amount of money you want to spend on the wedding.
- If you require a big amount after the wedding for accommodation (buying your own house) or renovating your house or for purchasing durables or for buying a vehicle, etc. then no point in spending a fortune on the wedding. Hence keep all the factors in mind while deciding the budget.
- If the budget is limited & you want a grand wedding you can look into tips for low budget wedding.
- The total budget should be agreeable to both the parties. Sometimes both the families decide to share the budget.
- Hence you need to keep a track of the total expenditure & decide on who will spend for what all things. Or else you can make a common pool of money & allocate a budget accordingly.
- Then you need to prepare a budget allocation & tracking sheet which will consist of a list of major items of expenditure in your wedding for eg: Functions, food, caterer, invitation cards, jewelry, clothes, gifts, etc. You can check detail list here.
- After allocating the budget to each of the item, you need to allocate a minimum & maximum budget for each item.
- In case your budget for a particular item is over shooting the allocated amount; you can keep a check on the total budget by adjusting the budget of some other item.
- In case you wish to donate money for some social cause on your wedding day then do allocate a separate budget for it.