According to The Knot, the average budget for the wedding ceremony and reception alone is $28,385. That said, there are no hard and fast rules when it comes to how much your wedding should cost. The most important thing is to have a wedding budget that you can stick to. In this article, we discuss why it’s helpful to follow a strict budget for your wedding.
HELPS YOU PLAN BETTER
Having a budget is all about being organized. You need to know how much you can afford to pay for the venue and other costs associated with getting your wedding day together. Usually, it’s best practice to have an itemized list of all the anticipated costs you will incur and how to make them conform to your budget. Overall, you can stay on top of your wedding plans better if you know how much money you’re working with and how to allocate it effectively.
AVOIDS UNNECESSARY DEBT
It’s not unusual for couples to splurge on their wedding and go all out. That’s the danger lies in overspending and ending up with a pile of debt that can lower the quality of life for many years to come. The problem with bad debt is that it accumulates interest which raises the cost of your wedding. Therefore, having a budget is necessary because it helps you to toe the financial line that prevents you from incurring unnecessary debt. You can easily stick to your budget and keep your expenses in check when you are tracking the numbers.
GIVES YOU MORE PEACE OF MIND
One of the main reasons for having a budget is it helps you track where all your money is going. Otherwise, it can be super stressful trying to figure out why you no longer have enough cash to pay for the decor. Not having a budget can end up derailing your well-laid plans, which is the last thing you need when you need to focus on getting all the plans together. If you have a budget that you can stick to, you can sleep better at night and enjoy your big day with more peace of mind.
Your wedding day should be one of the most exciting and special days, and it takes money to achieve that. However, you can still have your special day while staying on top of your finances. Get in touch with us if you’re interested in a wedding venue that is flexible for most budgets.