(Closed) Budget HELPPPP!

posted 6 years ago in Money
Post # 3
Member
3175 posts
Sugar bee
  • Wedding: May 2012

In your shoes, I would guestimate how much you could comfortably put aside per month (while not forgoing any luxuries you don’t want to give up for a year & a half), then multiply that by the months you have left. That would be your max budget. 

Post # 4
Member
1269 posts
Bumble bee
  • Wedding: May 2013

I started by looking at what I wanted and pricing a few things to get a general idea of what is reasonable for what I want, then looked at how much could be saved, and tried to balance. There’s no point paying more than you need to to have the wedding you want even if you can afford more, but you also don’t want to feel like you’re dissapointed.

Post # 5
Member
384 posts
Helper bee
  • Wedding: December 2004

@Saria213:  I worked out mine by going after bills each fortnight i have x left, Mr has y left. we both want to save in our personal accounts as well so half of x plus half of y equals z. each fortnight we will have z in our joint account (times z by 2 for monthly and then times by how many months until wedding). my budget done. Though mine will be all over the place as i half my monthly bonuses as well which are different amounts each month.

 

Hope that helps

Post # 6
Member
3081 posts
Sugar bee
  • Wedding: August 2012

So I think your method and your amount sounds reasonable, assuming that you have a good handle on how you spend on “optionals”. Do you go out to dinner/shop/travel a lot that would eat into that amount that you don’t spend on necessities like rent and groceries? Do you have any money in the bank currently for emergencies? 

Post # 8
Member
6124 posts
Bee Keeper
  • Wedding: August 2012

There are some items that need to be prepaid up front like the venue, caterer, photographer… 

I found the bulk of the expenses were up front, then again on the wedding day.  In between were smaller purchases in comparison.

 

It would be good to start tracking your expenses right now – your every day expenses to see what you really spend in a month.  Then you can go from there.  Your guestimation may not be exact enough to give you the numbers you need to project a wedding.  I like to divvy my expenses up into categories – housing, food, eat out, auto, health, clothing, entertainment, miscellaneous, retirement, wedding.

 

Post # 9
Member
11 posts
Newbee
  • Wedding: June 2012

http://www.costofwedding.com/ is a helpful site for giving you the average cost of things, depending on your zip code location.  Then you can decide if you want to allocate more/less money towards certain things. 

Also, I’d add a a few hundred to your estimate of expenses monthly, to account for savings, emergency savings and any extras (eating out, clothes, toys, etc.) that you may purchase during the month.  That way your wedding budget won’t interfere with your savings plan, and you can see if you’ll need to trim any corners to prepare!  ๐Ÿ˜‰

(I also agree with the previous posters – track your spending for a month to make sure that your $2,000 estimate is accurate.)

 

 

 

Post # 11
Member
2692 posts
Sugar bee
  • Wedding: November 2012

You got some good advice.

I set my tentative budget by seeing what things cost and putting a number I was comfortable spending on each item.  So if I saw that photographers were in a range from $400 to $2000, I set my budget at $350 and went in search of someone in my budget.  There is room for expansion in my budget but I know what I can comfortably spend and the amount I cannot go over.  My budget is TINy though, so it poses some challenges.

Vendors are allowing us to pay in installments as well with an initial deposit, with the remainder due the day off or right after the wedding. 

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