![]() What is your dream wedding style? Generally speaking, the more formal the affair, the more expensive. Similarly, weddings on Saturdays and Sundays tend to be more costly than those hosted on a weekday. Plus, many couples choose to go more low-key on elements like lighting, music and decor. An evening wedding reception is usually more expensive than a brunch or afternoon reception, not only because of higher catering costs for dinner, but also because people tend to drink less during the daytime. An event hosted in the middle of wedding season, which spans from May through October, will likely come with higher costs. Highly sought-after seasons and days of the week are pricier for obvious reasons. The Average Cost of Alcohol for Weddings Right Now Time to budget for your booze. Also, be aware that many popular wedding venues have headcount minimums, meaning they won't host a wedding that's too small, and some may also have a per-head minimum that requires your event to be a certain size. Some-such as a city park-come with no (or low) fees, while others, like a grand ballroom, might cost you the equivalent of a year's college tuition. Likewise, certain venues are more expensive than others. Tourist towns can also up your wedding price tag during peak travel season. New York, Chicago and Los Angeles are the obvious culprits, but small towns and remote destinations can entail greater costs if things like flowers and talent have to come from afar. Some cities and towns are just more expensive than others. Plus, with a smaller wedding, you'll save more on other details, including decor, stationery, favors and rentals, because you won't need as much of everything. As a result, changing the guest list size is the surest way to increase or decrease your costs. There's a per-head cost for food and liquor, and these two are typically the biggest expenses of the whole wedding. ![]() Who you invite to the wedding and the size of your wedding has a massive impact on the amount you'll spend. For example, you might cut back on the floral spend to account for your catering bill." Sit down with your S.O., as well as anyone else who might be financially contributing to your wedding, and have an honest conversation about what you have to spend, and how you should prioritize the investments. "Couples may need to compromise and cut back on spending in one area to get what they want in another. "The best way to stay on budget is to be realistic about what you are willing to pay each step of the way, from the venue to the vendors to your dress and accessories," explains Kristen Gall, retail expert and president of Rakuten Rewards. What you can actually afford will impact your wedding expenses breakdown. Matching Needs, Wants, and Savings & Debt Repayment Trackers so you can track any given category (or all of them!) that may be a struggle to keep within budget or needs a bit more attention for improvement.It's imperative to be honest about your wedding day expectations from the start.An entirely blank monthly budget template for maximum customization.A monthly budget template with many common budget categories.A monthly budget template with some common budget categories.With that quick primer complete, for each of the unique template designs we’ve included for free, we’ve included the following: It is also a great way to ensure that monthly income goes towards your needs and the future (or repaying debt) and isn’t entirely wasted away on frivolous things while still allowing for some “me” or “fun” spending in the wants category. ![]() This method makes it so easy to see where you can spend more money and where you cannot and allows you to make adjustments accordingly. Within each of those three categories (needs, wants, and savings/debt repayment) you will then be able to flesh out your budget by further breaking down your expenses (mortgage, groceries, clothes, etc.) while staying within the amount you’ve already determined you can afford. This budgeting method says you should budget your income (after taxes) by putting 50% of it towards needs, 30% of it to wants, and 20% of it to savings or debt repayment. The 50/30/20 rule is pretty straightforward and uses your household’s income (net of tax) to determine how much money you can allot to each area in which you spend. WHAT IS THE 50/30/20 RULE OR BUDGETING METHOD? To make your budget even more detailed and specific to your situation, or if you’ve struggled to know how much money to allocate to a particular area of your budget, we’ve created budget templates using the 50/30/20 rule. ![]() If you’ve determined that you want to set a budget to get control of your finances and either get out of debt or save money for the future then you may have already come across our Free Printable Monthly Budget Planners. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |