Wedding Budget and Things to be aware of
Planning a wedding is not an easy feat. You have to make sure that every wish is answered and all the important guests are catered. All of that must be done within the wedding budget. How to do the appropriate budgeting for a wedding? We will discuss the ways to do it as well as a standard template that you can use to perform the task.
Components of the Template
There are few things usually presented in a good budgeting document for a wedding. The following list will provide a clear description.
- Categories of expenditures
There are many things that you have to prepare for a wedding, such as cake, dresses, decorations, catering service, et cetera. It would be better to make a budget file that is divided into categories based on the types of expenses. As an example, you will categorize the bride and groom’s shoes into dresses.
- List of expenditures
After you have created the categories, you can start listing your expenditures. Everything must be listed clearly in detail so that you know how much money you spend on each one. For example, you are purchasing twenty vases for decorations. You must write down the number of vases as well as the price clearly in your wedding budget.
- A detailed description of the vendor
It is important to also write down the vendor that provides goods or services for every expenditure. In some cases, the vendor will not ask you to pay for the service immediately. So, you must write down the due date as well to ensure that you are not missing a payment.
Tipping is a way to show your gratitude toward people who help you in any way. During wedding preparation, you may give some tips to drivers or servers. It is easy to go over the budget just from tips alone. Thus, you must prepare a budgeting file that includes a listing of gratuities. That way, your calculation on wedding expenses would be more accurate.
The Template Example
An example of a template for the wedding budget that would be discussed here is the standard kind. It has a list of expenditures on the left side. After that, you get a column for budget estimation. It is the amount you initially allocated for every expense. On the estimation’s right side, there is a column to list the actual cost. That way, you can immediately see if you are going over the budget.
The important point of the template is seeing the total calculation of expenses and comparing it to your overall budget. In the end, the amount of actual spending and budget should be similar. It would be better if the actual amount is smaller than your prepared budget.
Cautions When Making the File
There are several cautions when making the budgeting file.
- Deciding who is going to cover certain expenses if it is not only the couple who is involved with the process.
- Making scale of priorities which are reflected in the wedding budget You need to focus on things listed on top first because they are more important.
- Creating special savings for the wedding.