The Wedding Budget

Weddings, in whatever form, is (admit it) costly. It may not necessarily be expensive, but it will take a good chunk from your entire bank savings if you are not prepared. So before getting all excited with the wedding planning, make sure you have set up a budget for your big day and be sure to strictly stick with it.

Below is MY OWN opinion on the How's, What's, Where's and When's of Wedding Budgeting (Davao City setting. Budgeting rates may vary per wedding location).

** How much budget you need **

This is actually a no-brainer. You may decide on whatever budget you think you can afford, given the length of preparation time you have from the actual wedding day.

If, for instance, you have more than two years to go before your wedding day, then you can indulge and be extravagant. You may set a budget of PhP 200,000 and up, as long as you and your partner have steady, moderate to high income and you can consistently allocate a portion of your monthly income into your wedding fund.

If you only have less than a year to prepare for your wedding, you can still have a decent wedding for less than PhP100,000. All you actually have to do is utilize the internet. I even found an events planner who offers all-in-one wedding packages that ranges from PhP38,000 to PhP60,000 good for 50 people. That's actually an awesome deal!

In my case, h2b and I have 21 months (we started saving on October 2015) to prepare for our wedding. So we agree to set our wedding budget at PhP150,000. This will already cover the permit fees, pastor's fee, wedding venue, food, decorations, attire, wedding coverage, rings, souvenirs, invitations, wedding host, and wedding coordinator. It may sound like it's not enough to cover everything we will need for the wedding but I already have a breakdown of the wedding costs and we will even have spare to spend for the honeymoon. I just pray that in the next 8 months, my chosen suppliers will not increase their rates.

** How To Achieve the Budget **

1. Set up a SPECIFIC, REALISTIC and PRACTICAL budget. It's okay to dream of having a "million-peso-wedding", but if you don't have the means to make that dream into a reality, then you better wake up. If you are NOT earning more than PhP50,000 and you have a lot of bills to pay that you can hardly save for emergency funds, chances are you will have a hard time saving up for your wedding. So, set your budget according to how much you can actually afford to allocate for it. Specify it. Set an actual amount you are aiming to achieve. You can't project yourself saving for an unidentified amount.

Be realistic and practical. Work out your income. You cannot save what you do not earn. If you are a minimum wage earner, then set your budget to what you foresee that you can actually save. Thinking about saving is the first step but actually doing it is taking the step forward.

2. Devise a budgeting plan. Make a budget table, open a savings account, or consult a professional. Whatever way you think of, make sure that your budgeting plan suits you best. Also, appoint a keeper of the money. Make sure that whoever keeps the money is a responsible person when it comes to handling finances.

In our case, I am more responsible with handling money so I am automatically the fund keeper. H2b gives his share weekly while I give my share every fifteen days. I have a small notebook where I keep notes of how much we have already saved. I also deposit the money to my savings account.

Another tip: I particularly follow a budget table to guide me of how much I would be allocating for the wedding fund every payday. I follow the below table and by the end of the year, I will have PhP40,000 total savings.

3. Grow Your Money (Optional). Recently, I learned about investing in Mutual Funds. I haven't tried it yet, to be honest, but I intend to in the future after the wedding. If you have more than a year to plan your wedding, you can actually utilize this investment venture. Visit a bank of your choice and ask about Mutual Funds where you can invest your money which you can use for your wedding. (Try Metrobank or BPI). Trust me, learning to utilize your investment or savings options ahead will surely help in your future expenses, not only for wedding but for whatever money needs you have.

4. Be Consistent. Don't slack off. You can't achieve your projected budget if you don't actually save. Always program yourself to consistently and constantly allocate and put money in your wedding fund. Your wedding fund will not grow money on it's own. So start saving NOW!

Remember, there's no one else to spend for your wedding but yourself. Lucky you, if your husband to be or your parents will shoulder all the expenses. But if that's not the case, then work your butt off and start saving. DON'T BE LAZY!

** When to Start Saving **

As soon as the boyfriend pops the big question, start saving. Trust me, you don't want to be like me. I am engaged since 2011, but h2b and I never discuss about the wedding plan. We just let the the wedding idea sit for so long. So after 4 years, we have not done any saving at all.

So, don't waste time. The moment you say 'yes' to your boyfriend, start saving. Even if you have to do it separately. Discuss it with your fiance. Remember, it takes two to tango. So start discussing your plans and act on it. You'll just be shocked that in no time, you'll have more than enough money to spend for the wedding.

** What and Where to allocate your Wedding Budget **

This part will be case to case basis. Before you start allocating your projected budget, make sure you know what your negotiables and non-negotiables are. Every bride/groom-to-be have their own wedding needs and wants. Make sure you know what you need, what you want, and what you can afford to let go.

This are the items that I have in my wedding checklist (according to importance):

Venue

(includes food, ceremony and reception setup, free overnight stay)

Wedding Coverage

(Photography, Videography, Same Day Edit Video, Prenup Shoot, Flashback AVP, Photobook)

Decorations

(Ceremony, Reception, Bridal Bouquet, Flower Crowns)

Rings

(specifically white gold wedding bands)

Couturier

(Bride and Groom attire, Entourage attire, Parent's attire if possible)

Hair and Make Up

(if possible good for 5 people)

Souvenirs

(Photobooth)

Invitations

(DIY customized Invitations)

On-the-Day Wedding Coordinator

Host and DJ/Spinner

Sweets Station

The first 8 items in this list are the items I need and want for my wedding. The remaining 3 are items I can negotiate not getting. However, a friend told me I really should get an OTD coordinator so that I can enjoy my wedding without the hassle of personally attending to the guests's needs. So, I'll consider the OTD coordinator as one of the priorities.

*Additional tips on finding the right supplier*

As I said earlier in this post, you can find a lot of suppliers in Facebook. Once you find one wedding supplier and hit the thumbs up (like) button, other supplier suggestions starts popping up. What's also nice about Facebook is that it gives suggestions in your home feed from time to time (I get them quite a lot). Among the wedding suppliers in Facebook are event planners, event decorations, couturiers, photographers, videographers, coordinators, caterers, and even wedding venues. You have a lot of choices in front of you. All you actually need to do is browse their pages and read reviews. Look at their photos and don't hesitate to message them your inquiries. Trust me, you'll be able to find the supplier that best suits you.

Lastly, don't get too excited. Don't let the excitement of wedding planning get to your better judgement. If you have a tight budget, opt for the cheaper alternatives. You can also book the newbie suppliers as they may offer lower rates. Also, take advantage of suppliers with lots of inclusions as that could save you time and money.

Remember,  Explore all the options, compare the prices, and choose the option that best suits your taste and budget.