How to create a Wedding Budget?

 

Planning a wedding? How much you will need to spend?
Before you spend a dollar, you have to figure out how much you can afford!  Even tycoons like Donald Trump from the USA, or Li Kar Shing in Hong Kong, they all have a budget for any kinds of their own personal party/celebration.  Knowing that, your wedding budget will determine a lot of your wedding decisions, so it’s important to make a clear budget early during the wedding planning stage. It will also make sure you can stay on track of what you are spending and keeping it under a better control. You don’t want any overspending, do you?
With my accountancy background, I’m confident I’m filled with expert advice and insider tricks to give you my top tips on creating a wedding budget and where you can really save some money!  If you don’t have an idea of how much for each of your major items, or if you are not good at maths at all, then , follow these steps that could make your money matters much easier!

a.     Identify the style of your wedding / 確定你婚禮的模式

 

Talk to your partner, whether both of you want something simple, or extravagant?  Think of the pros and cons.  There is no a standard budget amount for each aspect as different people have different wishes. Some would spend huge on the banquet (possibly a face issue for the both families), but they spend a humble amount on their their wedding attire.  I also see some wedding couples will spend big on live band, as all they want is a happy and enjoyable evening with all of their guests.  After both of you finally made a choice, jot down your wish list down and categorized them into different aspects. That’s how you can get started easily:

  1. Venue and Food / 場地和食物
  2. Number of Guests / 賓客數目
  3. Ceremony or Program (Civil, Traditional Da Kam Jie) / 儀式及程序(証婚律師?大妗姐?)
  4. Clothing and Accessories / 服裝及配件
  5. Decorations / 場地佈置
  6. Music / 音樂
  7. Invitations / 請帖
  8. Florist / 鮮花
  9. Wedding/Party favors / 回禮小禮物
  10. Honeymoon Destination Wedding Budget / 蜜月
  11. Coordinator / 工作人員
  12. Red Packets / 利是

Please note that these are only examples for reference. You should personalize your list according to you and your partner’s wishes.

b.     Set up a Time-Frame to make up the money that you will need

 

While you have the budget in place, it is important to set out a time frame to But please, be reasonable.   I personally don’t suggest wedding couples to overdraw the required sum from their credit card as it could make your life disastrous. Instead, save a portion from your income, sell items that you actually don’t need anymore (put up to yahoo, ebay etc), and/or borrow from your family.  Additionally, don’t be shy to ask for sponsors.  Look around and some friends may be very talented.  I always see some people who can help the bride to DIY the bouquet!  Photography/videography is very common too!  These are just a few of the many ways that you can use.

 

Hence, it is actually not as difficult as you thought.  Just try to set up a reasonable saving plan while you do the vendor sourcing research.  You can have the money in your hand by the time you knock down the deal with the vendors, be it 6 months, 1 year, but I won’t suggest to take it longer than 2 years as both of you may lose the excitements in planning your wedding!

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Want a budget checklist to start off your planning?  I have made a template here with some refernece figures for you to get started.  Click here to download, it’s FREE!

 

This post is also available in: Chinese (Traditional)

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