6 Simple Steps To Setting A Wedding Budget

August 28, 2020

Your wedding will be the biggest party you will ever host in your life. To plan such an unforgettable event, you need to set a realistic budget. Read to know what steps you can take to plan a wedding budget to have a financially stable life after.

There is a lot that goes into organising a perfect wedding event. Right from selecting a place, attire, jewellery to inviting guests, it requires immense time and energy that will keep you on toes. You need to decide what amount you need, how much you will spend and how much you will save.

Steps to Set a Wedding Budget:

1. Finance is a Priority: When you're planning for once in a lifetime ceremony, you need to have that much funds as a back-up. Wedding is a special day in anyone's life; hence you need to be prepared for the day. You can put your money in iWish Recurring Deposits or Fixed Deposits at ICICI Bank.
2. Wedding Contributors: You should know who are the ones contributing for the big day, whether it is your fiancé/parents or a friend. Allocate a specific amount of money for each segment of your wedding.
3. Early Bookings: One of the easy ways to offset wedding cost is booking your flights, hotels, venue, wedding planner, beauty specialist in advance. Bookings will save you from extra charges and expenses.
4. Managing Surprises: When you manage so many tasks, you may tend to overlook surprise expenses such as vendor transportation, appreciation tip for planners, organisers and caterers, guests transportation, etc. To handle such costs, you can use ICICI Bank Credit Card for an easy purchase. The bank offers various Credit Cards that will be useful for each milestone of your life. By gaining rewards and discounts on the car, you can book flights or hotels for honeymoon.
5. Estimate Your Guest Count: This is a crucial part of your wedding as the cost of the event is mostly about the guest count. Identify how many guests you will be inviting to your wedding. The guest count will help to determine how much you need to pay for food, invitation cards, chairs, tables and the size of the venue.
6. Priority Spending: You and your partner will have different opinions about how much weightage should be given to specific items. However, you will need to ascertain, which is the top item of your priority list. Maybe, in this case, you can set aside a bigger percentage for that item, which is super important for the event.

With the above steps, you can organise a perfect wedding within a budget. Just keep your budget flexible to add or remove an item that would be required in time.

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