After getting engaged, one important conversation each couple needs to have, other than picking the approximate date, is budget. Discussing budget, while not always the most comfortable topic, is essential to planning a wedding.
Here are some things to make sure to remember when beginning wedding planning and establishing the budget:
1. Determine early on what total amount you can afford to spend. Consider future purchases like buying a house or having children; you don’t want to use all your resources and leave nothing for your future.
2. Discuss in advance who is going to be contributing. Don’t make an assumption that yours and her parents are going to be financing the wedding without discussing with them first. Or, if you’re bank rolling it yourself, don’t pay for your wedding on credit. Racking up debt is not an ideal way to start out a life together.
3. Research costs associated with what type of wedding you will be having. Traditional local weddings are most common but depending on the number of guests, can be pricey. Destination weddings usually end up costing less because the guest list is much smaller.
4. Be diligent. Track every purchase to make sure you are sticking to it. Rule of thumb: Food, beverage, and venue should come to half of your budget.