Website: Importance of a wedding budget

Forum 7 years ago

Website: Importance of a wedding budget

My recent (and of course frequent) experience with a soon-to-be-married couple over the need for a wedding budget made me decide to write this article.

These two lovebirds were so eager to start planning their big day without the slightest idea of how much to spend on what that when I threw the first question of how much their budget was, both of them simply went blank.

Of course, I understand that for most of you engaged couples out there, you have never had anything to do with an event budget, since your wedding would be the first huge event you would have to think of ever planning.

That means lots of people start planning in a similar way and that makes this article particularly useful for you.
So, why exactly is it so important to create a wedding budget before proceeding with the wedding preparation?

Budgeting for your special event is very essential to its success. With a properly la!d out plan, you can figure out where and how to spend your money to achieve your dream wedding without having to break the bank.

No matter the size or the complexity of your wedding, sticking to a budget makes it easy to plan for all components and take care of any hidden expenses.
Budget Purpose

Creating a budget for your special event is an integral part of the planning process, because the size of the budget helps you determine the event scope and scale you can afford.

Budgeting keeps the event planner, and you, within certain parameters without overextending your personal finances.

The primary importance of budgeting your wedding is to provide the balance of quality in the exchange for goods or services. By staying within your budget, you protect yourself from going into unnecessary debt.

You need to figure out how much you have to spend on your wedding. Sit down with your partner and figure out how much money you are ready, willing and comfortable spending on your wedding.

Are other people, like your parents, siblings, relatives or even friends, going to contribute financially to your wedding? If the answer is ‘yes,’ then you must also take time to discuss with them what and how they will be helping you with.

Sometimes, this is a naira amount that you can build right into your budget, and other times it is a particular portion of the wedding or an item on the list that they are going to pay for (up to a certain amount) on your behalf.

Either way, it is important for you to know before you dive into budgeting and planning.

I know that talking to our family members about money isn’t always the easiest or the most comfortable thing to do, but sometimes it just must be done.

Generally, I think it is helpful to start with the mindset that your families may or may not be able/willing to contribute, but that you are asking because it is better to ask than to miss out.

The summation of all that you, your partner and every other person are willing or ready to spend on your wedding gives you the budget, which is how much funds you will be spending on your special.

It is only after getting this figure that it is advisable for you to commence planning.
How then should we disburse the available funds? How much should we spend on what? What are the items that make a wedding list? All these and more will be talked about in our next article.

However, should you have any concerns about your event and you desire a professional assistance, please feel free to talk to us through any of our contacts provided.