October 17, 2013

The Wedding Budget Management



Spending money on wedding has never been an easy task all across the globe. It involves a huge amount of money which might rise up as the big day celebration comes near. According to research conducted globally on “how much money is spent on Wedding celebration”, the answer was unbelievable. The average cost of a wedding has settled somewhere between $27,000 and $28,000, which was $25000, a couple of years back.

Truly, this is a hefty number, so you need to plan your wedding budget keeping in mind your status because it is your hard earned money. It is not at all advisable to take a debt for the wedding, just to show off the whole world. Nowadays, bride and groom have become more cautious and wisely deploy their money in the marriage ceremony.

They are not at all inclined towards taking debt and celebrating the occasion. Rather they use the money they have more cautiously by making sure the guests and they get the most out of what they actually going to spend.  For instance, a groom can buy his suit by spending few dollars which he can wear for many years rather paying $100 for a rented suit which he can wear for one day. Taking one example, couples can invest more in dinner and drinks rather spending more on venue decoration.

So, as a couple you need to understand some basics while preparing your wedding budget because it is your hard earned money and you must get what you invest. In order to get the magical number i.e. ideal number, you have a look into your savings, contributions from your parents, contributions from your friends and relatives and what is the amount you can actually spend, without hurting your day to day expenditure.

So, when you arrive at your magical number, make the categories which are actually performed while doing the whole wedding process and then put that number to figure out. In Indian marriages, the main part of wedding budget spent on Indian wedding Invitations or wedding décor so wedding budget planning plays a vital role. I am trying to give you estimates from my point of view and you can adjust it as per your budget and need.

• Marriage Reception – 45%

• Wedding Dress – 15%

• Flowers – 15%

• Music – 10%

• Wedding Photo/Video – 10%

• Wedding Invitations– 5%

To conclude, I can say the above mentioned categories and numbers are just an estimate. So, while planning your wedding budget you must know your spending limit.

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