How to Budget for a Wedding
- 1). Determine if anyone else will be pitching in to pay for the wedding. Traditionally, the bride's parents pay for the ceremony and reception. These days you'll often find the groom's family offering to cover part of the costs, such as the bar tab or rehearsal dinner. Remember, though, the more people footing the bills, the more people feel entitled to have their say. Many couples save up to pay for their own wedding and sidestep all the trouble.
- 2). Create a budget. Figure that the reception will eat up about 50 percent. Music, photography and flowers each take up about 10 percent. The remaining 20 percent goes to everything else-- dress, tuxedo, invitations, hotel, limo and so on. See the chart below for suggested contributions.
- 3). Get creative with where you can cut back. Cull your guest list, starting with kids, colleagues and dates of single guests. Use less-expensive thermography instead of engraving invitiations. Find out if a club or museum that you belong to offers a reception discount for members. Borrow the gown or rent the tuxedo.
- 4). Open an interest-bearing checking account exclusively for wedding expenses. Sock away as much as you can during the engagement. Although the final bills are usually not due until the week of the wedding, be prepared to place down payments with the band, photographer, caterer and venue. Don't forget tips.
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