The B Word.... no, it's not "Bride". It is "Budget". What should my wedding budget be?
A formula that we suggest is…
Your existing savings* is $__________ x 0.50 = $__________
Your savings potential is combined monthly income x .20 = $__________
Bride's parents contribution (if applicable) = $______________________
Groom's parents contribution (if applicable) = $__________
For Example:
Savings = $20,000 x 0.5 = $10,000.00
Monthly savings= $8000 x 0.2 = $1600.00 for 6 mos $1600 x 6 = $9600.00
Bride's p's = $10,000.00
Groom's p's = $10,000.00
Total budget available = $10000 + $9600 + $10000 + $10000 = $39,600.00
Do you have to use all of this? NO! but it is essential to know what your spending limit is!
*a word of advice if you are currently saving for both a wedding and your first home…
the home is way more important
.......adjust this figure according to your needs & goals |