How to Compute and Allocate the Wedding Budget

Before you head into planning your wedding at full speed, you will need to set the budget. How much you can spend for your big day completely depends on what you and your partner are comfortable with. Budgeting for your wedding is a personal decision and it will always be a different case for every couple. But we also know that budgeting can be overwhelming and confusing especially if you’re not the type who is used to working with numbers. So, we’re here to help guide you! We asked the brides from our Bride and Breakfast Community on Facebook to share their wisest tips about computing and allocating your wedding budget, and we compiled them right here. Keep reading to learn what they are!

How to Compute and Allocate the Wedding Budget: Tips from the Bride and Breakfast Community

<strong>Decide How Much You and Your Partner Can Individually Contribute</strong>
Be honest and open with each other about the realistic amount of money you can contribute to your wedding fund. Alyanna Angeles from our Bride and Breakfast Community says, “It doesn’t have to be the same amount.” This is a fair point because one of you may be able to contribute more, and there’s no shame in that! Once you’re married, your finances will also be conjugal property. So, consider funding your wedding as practice for married life! Another general tip you can take note of is saving at least 10% of your current income for your wedding fund. Based on the amount of money you can each contribute and set aside, you can then determine your total wedding budget.

"Before looking for suppliers, we decided that we’ll each be depositing a specific amount per month, and we can top-up extras if we want to." Denise Castillo-Lava, Bride and Breakfast Community

"We considered how much money we could spend without going hungry! We factored in how much we can actually spend without borrowing." Pia Fernandez, Bride and Breakfast Content Editor

<strong>Aim for an Amount Based on Your Preferred Supplier Packages</strong>
Research about different suppliers and their packages. From there, you can base your budget allocation on industry rates. In some instances, you might need to consider if you’ll want to increase your budget to book a supplier who is your top choice or you can tighten the belt in other areas.

"Before looking for suppliers, research on wedding groups about reviews and learn about the best suppliers depending on your location, you will save a lot on out of town fee. Getting local suppliers will cut costs (e. g. if wedding is on Tagaytay, get suppliers from Cavite). This would be very applicable to non-negotiables." Shayne Agonia Conopio, Bride and Breakfast Community.

"List down suppliers needed, sorting them according to priority. Identify the package that you want from each. Aim for the total amount needed for the package you selected." Jon Manundo, Bride and Breakfast Community

<strong>Set Aside a Bigger Percentage for Your Non-Negotiables</strong>
Consider allocating the biggest portion of your budget for the major suppliers or those that matter to you the most. Decide if that means spending more on food, venue, photographer, videographer, attire, etc. The supplier/s you choose to splurge on will take up majority of your budget, but you can always adjust and be more flexible with the rest of your items.

"We listed down three non-negotiables: coordinator, photographer and videographer (we splurged on these because the photos and video are what will stay with us and what we’ll show our children) and food (one of the things our guests will remember)! Bulk of our budget really went to these suppliers." Ria Arana Formentera, Bride and Breakfast Content Writer

"We started looking for the main suppliers first: church, photo/video team, coordinators, reception. These are top priorities for us, so we’re willing to allocate most of the budget there, but still within our means. So we really looked into reviews and portfolio." Denise Castillo-Lava, Bride and Breakfast Community

<strong>Track Your Expenses</strong>
Excel sheets or Google sheets will be your best friend, and one of the most reliable planning tools. Always keep a record of how much money is going in and out so you don’t miss any payments, and you’re assured that you’re spending within your budget. You can divide your tables according to Supplier, Downpayment, and Balance to make the cash flow easier to track. Don’t forget to take into account monetary contributions coming from your parents and loved ones if these will be part of your wedding fund.

"Place it on google sheets to be able to monitor your balance remotely. This was very useful for us specially during pandemic. Real-time changes and updates can be made even on your phone." Jon Manundo, Bride and Breakfast Community

"List down all suppliers. Arrange them according to priority/non-negotiables. Have them in excel which has the downpayment and balance per supplier. Also the auto sum for each column." Kresha De Castro-Cidro, Bride and Breakfast Community

<strong>Take Advantage of Discounts and Savings</strong>
Though you have an allocated amount for your wedding, you can always find ways to save your hard-earned money. It’s not a bad idea to have extra funds, because you can set this aside for your future together or reallocate it for priority suppliers and anything additional for your ceremony or reception. Also, it wouldn’t hurt to ask your friends and relatives for favors. Some of your creative friends can sing for the program or help you design the invitations. They might even be willing to share their talents and efforts for you as a wedding gift!

"We went to a bridal fair and asked a lot of suppliers online to compare rates. Luckily for us, suppliers offered huge discounts and special rates so we went with the ones who offered the best deals." Ria Arana Formentera, Bride and Breakfast Content Writer

"It was helpful that all of our friends were in the creative industry so there were lots of details that we were able to DIY with their help!" Cai De Guzman, Bride and Breakfast Social Media Manager

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