Planning a Wedding? What is Your Budget?

If you are recently engaged and are in the beginning stages of planning your wedding, one of your first priorities is to determine your wedding budget.

Determining your wedding budget consists of answering the following questions:

Setting a budget for your wedding is a smart business decision about your wedding investment. By establishing a budget early on, you know what you can afford to spend on your wedding. In addition, setting a budget allows you to be conservative with your spending.

On average, it is estimated that 45 percent of couples go over their budget, as reported by Wedding Solutions. One strategy to help you stay within your budget is to set aside about 10 percent from your total budget to account for any splurges. In this way, if there is something you want to splurge on, such as hiring a great photography or a live band, you are less likely to exceed your maximum budget.

If you are unsure of the average cost of a wedding in your area, consult with a professional wedding planner in your city. S/he will be able to provide you with this information. In addition, you may want to consider hiring that planner to sit down with you to develop a budget plan for your event, including matching you up with suitable wedding vendors based on your style and budget.