Kayla Barker Fine Art Photography
Prioritize your needs.
As a couple, work together to decide what are the needs and wants for the wedding. Then prioritize them. For some that might mean food and entertainment, for others it could be venue and decor. Consider your long-term goals as well. Do you want to own a home? Travel? Factor those items in when deciding how much to spend on your wedding says Jason Field, CPA at Anderson Tax (who is getting married later this year).
Set a budget.
Once you’ve figured out short and long-term goals, set a realistic budget and stick to it, says Kris Yamano, Vice President and Regional Leader of Wealth Planning for BMO Private Bank. How much should be saved depends on the anticipated cost of the wedding. Be realistic. A $30,000 wedding requires a monthly savings of $2,500 for 12 months. Extend your engagement to give yourself enough time to save and/or tighten the money belt to reach your goal.
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