Planning your wedding budget

A wedding can be one of the biggest expenses that a couple may face. The cost usually depends on the size of the wedding. It can be in the tens of thousands of dollars.

Making a budget for your wedding can help you avoid spending more than you planned. A budget can help you make sure you have money left over for other financial goals. For example, you may want to repay your student loan, buy a home or travel. Think about whether your wedding expenses will affect your ability to reach these financial goals.

Decide how you'll pay for your wedding

Before you start your budget, decide how you’ll pay for your wedding. This way you’ll know what you can afford.

  • Where will the money for your wedding come from?
  • Will it come from savings or contributions from family?

If you borrow money for your wedding, make sure you also budget for the interest you’ll have to pay.

Make your wedding budget

Decide together how much you're comfortable spending on your wedding. Talk about what you think are the most important parts of your wedding. If you need to lower your costs, discuss what parts of your wedding you could change or leave out.

When making a wedding budget, do the following:

  • set a total budget for all the expenses of your wedding and stick to it
  • include taxes for goods and services in your budget
  • save all your receipts
  • compare your actual spending to your budget
  • track your spending to make sure you stay within your budget

What to consider when you plan your wedding budget

Things to consider when you make your wedding budget:

  • Will making some items yourself help lower costs?
  • Are there items you can rent or borrow instead of buy?
  • Would the wedding venue be less expensive if you booked it on a different day?
  • Could friends or family contribute their skills, such as baking, cooking, hairdressing, music or photography?
  • Is there a less expensive option for your honeymoon?

Consider costs to friends and family

Remember that your wedding may also affect the finances of family and friends who attend or take part in your wedding.

For example, they may need to budget for:

  • travel
  • gifts
  • special clothing

Give your family and friends enough time to budget and save for these expenses.

Wedding Budget Worksheet

Good planning is the most important factor to keep your wedding on budget.

Use the Wedding Budget Worksheet to help you keep track of all of your wedding expenses.

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