Money Matters: Why It's Important to "Talk Budget"

When it comes to wedding planning, we all know there’s the “tough stuff” and the “fun stuff.” Cutting down a hefty guest list and managing stressful family members both fall into the “tough stuff,” but what usually tops the list is money issues. Luckily, with a few easy steps you can save yourself a whole lot of stress! Talking budget makes a lot of people cringe. I get a lot of calls from brides who say “there’s no budget” which, in truth, means they haven’t talked to their parents or whoever is footing the bill, or they literally haven’t been given a budget. Unfortunately, there’s always a budget. Even if you’re planning a platinum wedding, there’s always that magic number that can’t be crossed. As planners, we ensure that we know our clients budgets, and as a bride you should make sure you know your own budget!

While it can be awkward to sit down and have the conversation, knowing up front how much money you have to spend, who will be paying the bills and who has the final say on decisions will reduce stress down the road. There’s nothing worse than finding out three months prior to your wedding that your decisions are being vetoed or that you assumed you had a bigger budget than you do!

If you know you’re footing the bill, then you simply need to look at your finances and determine how much money you are comfortable spending on your wedding and how much you will need to save each month. If you suspect your parents or future in-laws will be contributing to the cost, then you’ll need to sit down with them separately to discuss their financial involvement and if/what they will be contributing.

Once you determine how much your parents or future in-laws will be contributing, you’ll also want to determine how monetary contributions will be made. Will the money be put into a bank account specifically for the wedding that you can access? Will certain parties be paying for specific portions of the wedding, such as mom and dad paying for catering, your future in-laws paying for alcohol, and you and your fiancée covering floral and decor costs? Know how the finances will be handled up front will make your planning a whole lot easier down the road!

Now that you’ve established the overall amount of money you have to spend on your wedding, you can sit down and put together a categorized budget. If you have a wedding planner assisting you, they can put a detailed budget together for you and help you determine your ideal guest count and where your money will be best spent to get the most bang for your buck. If not, there are many resources online for calculating your budget. Remember, the calculators can’t take the typical costs of your local area into consideration OR your personal tastes, so use this as a starting point, and do some research to see if the amounts allotted are realistic and adjust it to reflect the areas of your wedding that are most important to you!

Now that the “tough stuff” is out of the way, have fun and enjoy planning your wedding – you can start scouring those bridal magazines for the perfect dress that won’t break the budget, hunt for your dream bridal bouquet and scour wedding blogs to find the perfect details for your big day!

Happy Planning!