First draft of wedding budget: $15,000
I swear, I’ll write something related to normal personal finance soon. In the meantime, here is my first draft of our wedding budget.
Our parents have each committed $5000, which leaves roughly $5000 for us. If my parents have a good year (last year was bad) I wouldn’t be surprised if they give us a bit more, as the initial words from my mom were “at least $5000”. But who knows, as they’ll probably have to pay for lodging as well.
I don’t think it is unreasonable for us to spend $5000 of our own money. I should be able to save it up by October, no problem (mostly due to a sudden $525/mo decrease in rent). Since T already bought a ring (and our money is going to eventually be merged anyway), we might use my savings account for the wedding expenses for now. He certainly has the cash to help, but his earning power is less. (He doesn’t know this yet, but I’m going to encourage him to start contributing to his IRA instead… Here that T?)
- I have no idea what these things cost, so I guessed on a lot of items
- It is still very much TBD how we are going to handle the reception. I decided to nix a party in my homestate (would only be for a few relatives, most of my friends have moved on) and instead we’ll just go visit home afterwords. No party. This means 10-15 of my relatives that would not have came to CA before now might will show up. I still hope to spread the word that the whole affair is going to be low key and simple so no one feels pressured to show up. But we have to be prepared for the whole crowd.
- Which makes the idea of renting a large home and trying to throw a low key reception there more dicey. It is still on the table, but I also found a restaurant that can do a sit down dinner for $45/plate (+tip+tax). That will be more expensive, but also much less stress. We’d need catered food anyway. So now that, and other restaurants, are on the table. As well as a couple other options. Still trying to figure this out
- I put $1000 for the wedding band, but then T told me that I probably should get the band that matches my ring. The plain one is ~$750 and the fancy one with sparkles is over $2000. We’ll have to try some on, but initially I want the sparkles since I don’t have sidestones in my ring. But we’ll see.
- Credit to Paranoid Asteroid — I used her wedding budget as a starting point of how to format it and such.
- I didn’t include bridesmaid dresses, but I might pay for them out of my personal clothing budget. I’m having my two sisters (none of my friends — I think they’ll be ok with that) and letting them pick their own coordinating or matching dresses.
- The honeymoon will be saved for as well, but I don’t think it is fair to count it as a wedding expense, because it is a vacation that I’ve been dying to take anyway.
- I do not think we will get $5000 worth of gifts. My family is not like that. And I’m totally fine with that.