Budgeting Your Wedding Costs

Not everyone planning their wedding has an unlimited budget. Due to this fact, it is very important to put a set budget in place for what you, as a couple, can spend with out putting your self in debt. Many couples fail to take this step and start their new lives together in sever debt. Debt and financial stress, unfortunately is a major cause for argument and eventually divorce in a marriage. Give your relationship a leg up by putting a wedding budget in place.

The first step in identifying a budget is to define the income of both the wife and the husband to be. If the first partner makes $2,000 a month after taxes and the second partner makes $2,500 a month after taxes, the combined income is $4,500 a month. I know. Simple to some but a little harder to identify to other.

The second step is to figure out the outages. Both partners should honestly estimate their monthly bills and combine them. Home phone, cell phone, automobile note, automobile insurance, utilities, gas for transportation a week, grocery bill a week, internet bill, cable bill, entertainment expenses, personal up keep expenses (hair, nails, clothing, facials, etc.), mortgages / rent, and any other expenses. Some expenses are better estimated if broken down by the week then added together. Gas for transportation, grocery , and entertainment are great examples. The cost of these activities may differ during the month depending on paydays or weekly schedules. Lets say for examples sake that the combined outage is $2,500. That would leave an extra income of $2,000 a month. The income of $4,500 minus the expenses of $2,500.

The third step is to determine the amount of extra income that the couple will have by the time of the wedding. If the wedding is set 12 months away, the couple would have $24,000 of extra income to spend. By figuring out the budget ahead of time, the couple is almost sure to avoid wedding debt disaster. Its as simple as that.

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