Getting engaged can be the most exciting moment in a couple’s early life. However, a wedding in addition to planning a life together, can be daunting, and let’s be honest, expensive. Here, we’ll give you a few tips on where to start, how to establish a budget, and what to expect financially when planning a wedding and a future.
Start Setting Money Aside ASAP
The truth is, weddings are often expensive. The average wedding will cost about $30,000, which can seem unfathomable. With this in mind, the earlier you start saving, the better. Most people feel the need to start planning immediately after becoming engaged, however, this is not necessary. It’s often wise to take your time planning during the engagement, and spreading out the costs. Anything extra that you can spare and set aside will help you out and get you closer to your dream wedding. Plus, if you have some money left over after your wedding, you can put it towards expenses that will pop up in your newlywed life.
Prioritize Important Details
Your wedding doesn’t have to be “perfect” in the general sense, it only has to be “perfect for you”. Sit down with your partner, and prioritize what details in the wedding truly matter to both of you, and make those your focus. You might have always dreamed of your perfect wedding dress, if so, splurge. Make the appointment to have a custom dress made, and keep it forever as an heirloom to pass down. You might not also care much about the cake, in which case many DIYs and affordable versions are available to you.
Consider What You Can, and Can’t, Afford
Thinking about both your wedding and married life as a whole, it can be easy to become overwhelmed with the cost of living. That is why it’s important to not spend beyond your means. While you may want a lavish 300-plus person wedding, your bank account might say otherwise. It’s also important to think about your life after the wedding. A first home, children, life expenses, they all add up. There is always a way to throw your dream wedding but stay within your budgetary restrictions as long as you’re willing to be flexible.
Remember this is a Transition
Marriage is a true transition period in life and just like any other transition period, it’ll take some adjustment. Your wedding is the celebration part, but after that comes the true change. To make sure you and your future spouse are ready for this new part of life, it’s imperative to know how to talk about money with them. Once you know where you both stand when it comes to finances, you can start your lives together on the same page and determine your joint budgeting system. From there, you’ll be able to make big life and monetary decisions as a unit.
Once you’ve gone through these steps, established a budget and discussed finances with your partner, you’ll be ready to begin the fun part: the wedding planning!
