Whether you are planning your wedding in 3, 6, or 12-odd months, you will need to set yourself a budget and stick to it. That also means, unless you are being given money from your parents for the wedding or you already have savings set aside for this purpose, you will need to start saving toot de suite!
You won’t have to pay for everything straight up, so you have some time to get your finances in order. There are a few rules you will have to set yourself from the get-go.
- When you know the final amount, stick to it and don’t try to add more – alter your choices instead.
- If, once you have set your budget using our Budget Calculator, you decide you simply must allocate more on a particular part of the wedding, know that amount then has to come off somewhere else. Figure that out, reconciling your overall budget, before you sign on for anything outside the original plan.
- Set yourself and your partner an amount to save each pay. Don’t deviate from that amount. Make sure it is realistic for you in the first place.
Drawing up a Timeline
First, start at the end and work your way back. Work out when final balances need to be paid, and when deposits need to be paid.
If you are working to a really strict budget, simply start by paying only the minimum deposit up front, and bank as much savings as you can. Let it sit there earning interest and leave paying the balance until the very day it is due.
Keep a strict diary, and set yourself reminders in your phone or email system if you know these work better for you. Some vendors and suppliers have a waiting list and will let your booking go the very next day if you miss your final payment, so don’t miss out simply because of forgetfulness!
Try to organise your balances to be due at different times so you are not overloaded with all of your final payments at once. If you communicate with your vendors and suppliers, they may be willing to allow a little extra time (within reason) if need be, or arrange for smaller instalments to be made along the way if that is going to work better with your savings timeline.
Know how much you’re going to need when, and up your savings any way you can if you need to in order to make your payments.
Thumbnail image by Emma Nayler Photographer.
Check out our Savings Timeline and Budget Calculator printable planning tools.
More helpful wedding planning articles can be found in our categorised Resource Guide.
