How many of you are planning your wedding right now? What kind of budget are you using and how are you doing at sticking to it? For those of you who have already gotten married how do you feel about your wedding budget? Did you stick to it? Was it easy to use and accessible? Did you go over budget, under budget or come within your budget?
I know that planning your wedding is super stressful so we want to at least make the budget somewhat less stressful. In this episode we talk a lot about the proper ways to budget for your wedding and some things that we wish we would have done. Hindsight is 20/20 right?
First you need to ask yourself a few questions:
- What are your top 3 most important purchases for your wedding? These are non-negotiables and are top priority.
- What things do you NOT want to spend money on? What are not priorities and will not be pressured to add?
- What number would totally make you sick to your stomach if you ended up spending this on your budget?
- To whom can you delegate tasks that will help hold you budget-conscious?
There are a lot of great resources out there for budgeting for your wedding. The Knot.com and Wedding Wire both not only have great online budgets but also will help you plan your wedding from start to finish. After reviewing both of their budgets separately they are quite good. We created a wedding budget that takes it a step further and has as many categories as we can think of (a few things that other budgets have missed) and added some mindset and accountability questions and nerded out to make a pretty cool functional spreadsheet.
You can click here to download our "Fiscal Fitness Ultimate Wedding Budget Worksheet" and the infographic that explains how to use it.
Here is a link to the article on Milennials: Millennials earn 20% less than Boomers did at same stage of lifeDownward mobility: Their student debt is drastically higher and "I think the opportunities have just been fading away."usatoday.com
- Millenials aren't making as much as their boomer parents.
- My employer matches my 401k up to a certain percentage, should I max it out?
- Budgeting for your dream wedding
- Best practices for paying with cash
- Carmen's Corner: How to talk to your kids about borrowing money, specifically mortgages and the like
- Budget Brag: Tami used cash and actually had some left over!
Here is the Ultimate Wedding Budget Worksheet we talk about in the podcast: