Setting a Wedding Budget
I have come across many couples who don’t have any idea about where to start when planning to budget for their big day. Most couples need a little guidance on the things that need to be taken into consideration before the actual planning process begins.
I strongly recommend setting a budget that is both realistic and in line with your disposable income. It is very easy to get carried away in the excitement of planning a wedding. This can cause unnecessary stress and financial pressures due to a lack of planning and managing a budget effectively.
Consider taking out a loan to finance your wedding.
I know that this may seem like an easy option to begin with and the most logical solution for you. However, the negatives outweigh the positives. I hope that the following will be enough to put you off the idea completely:
Now that all the negatives are out of the way let's focus on the positives!
Once you have gone through your combined income, expenditure and any savings it will help to record it in a simple format as shown below:
|Disposable Income||12m x £100||12m x £100||£2,400|
Please note that this is just an example and you will need to adjust this to your personal income. This is a very good starting point and it will help you to identify an estimated budget.
Hope it helps!