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When you’re basking in the glow of a new engagement, it’s easy to dream of your perfect wedding day. But weddings come with costs, and figuring out a budget is one of the first steps to turning your vision into reality. Whether you’re planning a grand event or an intimate gathering, every great wedding starts with a realistic budget.
Here’s a guide to help you make budgeting simple and stress-free.
Define Who’s Contributing
Weddings are a significant investment, and knowing your budget upfront helps avoid surprises. On average, families contribute about half of wedding costs, while couples cover the rest. Start by having an open conversation with each family about financial expectations, even if they haven’t saved specifically for this purpose. Sharing your plans early and asking for input can be a respectful way to clarify contributions.
Create a Realistic Budget
From the location to the last detail on your menu, many factors will shape your wedding costs. Start by deciding on priorities, these will act as your guide for spending. For example, according to Bloommoney the average cost of a wedding last year was 2 and 3 million naira, with top expenses being the venue, photography, and attire. Not forgetting that catering is also a big-ticket item.
When setting your budget, share it with each vendor to help stay organized. If some services exceed your budget, don’t hesitate to negotiate or look for alternatives that align with your plans.
Trim the Guest List Thoughtfully
A celebration with hundreds of guests sounds grand, but each additional guest adds to the overall cost. The guest list is one area where you can control expenses, so consider focusing on close friends and family. Fewer people mean fewer costs for food, drinks, and seating, letting you invest more in other aspects that matter most.
Steer Clear of Debt
While your wedding is a special milestone, going into debt for it can affect your financial stability. If you’re running short on funds, consider eloping or extending the engagement to save more. Tackling a wedding loan, alongside other life goals like a home or family, adds unnecessary stress to your marriage. Avoiding debt lets you enjoy your big day without compromising future plans.
Celebrate on Any Budget
In today’s social media age, it’s easy to feel pressure to create a picture-perfect wedding. But memorable weddings aren’t measured by price tags. Focus on what’s meaningful to you and your partner, and remember that your guests are there to celebrate your love. Simplicity can often create the most beautiful memories.
Conclusion
The journey to your wedding day is unique, and having a solid budget helps make it smooth. Whether you’re saving for an elaborate ceremony or a small gathering, SavingsBox can help you reach your goals. Download the SavingsBox App today to start a wedding savings plan that grows with you. Not planning a wedding just yet? No problem set up a ‘Just in Case’ goal and be ready for any future celebration.
