Having financial guidelines and limits will give the two of you, a feeling of confidence, and it will keep the stress under control. It’s very helpful to know you have enough money for everything.
Please look at our (Worksheet) Budgeting section in the Planning & Ideas section of our Home Page. Try to get a total amount of money including credit cards and money from a family that you intend on spending for your wedding. Divide your money up using our guidelines.
It used to be that the bride’s parents paid for the whole shebang. Currently, couples are older when they marry and sometimes pay for part or all of the costs.
The modern guidelines, if you care to follow them, still dictate that the bride’s parents pay for the Wedding Ceremony and Reception. The groom’s parents host and pay for the cost of the Rehearsal Dinner. The bride is traditionally the groom’s financial responsibility once the “I Do’s” have been said and so he pays for the Honeymoon.
The cost of a wedding in 2017 on average couples spends between $19,323 to $36,000. Whoever has the money can allow you to pay for it. This might include grandparents if they want to help. Without a plan, couples tend to spend way overboard in one area and cry real tears towards the end of the engagement when the funds are gone. Flowers seem to be one of the budgeting surprises. The cost may be way over what you allowed for. Don’t be afraid to violate your budget. It isn’t a crime but be aware of it and adjust the money. Don’t hide your head in the sand and be sorry later.
Budgeting is a real training ground for future marital finances but, be careful and tactful: it can also become a great battleground. The important thing is that the two of you agree about the total budget and how the money will be spent.
Make a rule to start with; no arguing about money. No finger-pointing about who spent too much on what. Talk to your fiancé constantly about your expectations and involve him as much as he is willing to do. Do take his advice. Be sure that he knows how important his input is to you. Be careful with credit cards; they are also money! The biggest cause of divorce is money problems, so be sure you are not over your head.
Go to the bank and open a checking account into which all wedding funds go, and from which all charges are paid.
Have a checkbook with duplicates. Be sure you write hard enough to read the 2nd page. If you are using a debit card, be sure to tally all costs as you go because it’s easy to overspend with a Debit card. Keep all contracts & receipts together in a three-ring binder along with bank statements. Be sure to read the Worksheet Budgeting!
If you are careful, you will be successful in keeping within your budget
Leave a Reply