Breaking Down the Wedding Budget

   I now know how much I would like to spend on our wedding, that's Php 100,000. So the next step would be to list down all the expense categories and allot a percentage of the budget to it. I referred to my trusty friend Google to help me set-up my wedding pie chart.
 
   The quickest and best way (at least for me) to search ideas for budget allocation is to search an image of a "wedding budget chart". This way, you can easily filter out allocation ideas not fit for Philippine setting (as majority of information on the Internet is not locally set-up) and choose the one the best suits your wedding ideas. Here's an example of a chart I lifted on the Internet.

Source: http://www.eweddingassistant.com/category/Budget.aspx

The chart above covers most of the normal wedding expense categories. But since each of us has a different idea of what we want, and how much we want it we can tweak the percentages to match which items we want to prioritize.

This pie chart is my own version of how I want to spend our P100k budget in percentage (1st graph) and actual numbers (2nd graph). Maybe you'll wonder why the Flower, Stationery, and Decor is allotted only 3%. As I see it, invites will be thrown away, flowers will wilt and die, and decors is just additional perk not a need. So, prior to finalizing this budget, I researched on ways on how I can save up on these things which I don't want to spurge on. And I found out lots and lots of interesting options to get away with the 3% allocation - Keywords: DIY and Creativity. I also included a 2% allocation for Planning allowances which I think is an important item that may be always overlooked. That fare and food for the trip to Divisoria, or that load you spent on calling the suppliers, or that work leave you filed to arrange the documents- all of those amount to something and when added up amounts to something large. So, better allocate a budget.

How you will divide your budget, however small or large it could be, depends on your preferences. Some wants to splurge on the best photographers and videographers, some on luxury feast, some on the ceremony. So it is entirely up to you.

Breaking down the allocation further - the itemized expense breakdown

Now this one I think it will take a longer time to finalize and complete because for you to itemize the things you need to buy and pay for, you have to have a clear vision of what you want your wedding to be. In my case, since I've decided I'm DIY-ing  some things I was able to list down all the materials I think I'd need.

For example, our budget for PV is only Php13,000 and as per my research the only way to get away with that is to hire a service only PV. I've decided that I'd do the albums myself later on since I know how to layout and edit pictures (I kinda do this professionally). So in my itemized budget I noted to hunt for photobook sales in group buying sites where I can grab a P1000 8x10 hardbound photobook. 

Here's a screenshot of my Excel file:

I was the one who came up with that Excel file design because I wanted my own all-in-one wedding budget/task planner that I can work comfortably with.

If you need a guide on how to set-up your own budget planner you can turn to our trusty friend Google to lend you a helping hand. Just type in "wedding checklist excel" or "wedding budget excel" and you'd be given lots of references.

So, that's how I plan to spend all that money. Do you think it will work-out? It is very challenging I know, but if I pull this through I believe I just passed one of married life's readiness exam. Think about it, how many times will you budget the household income for your future family? So, this is training for the future. ^^

*English is not my native language. I hope you'd spare me the grammar lectures.
*I'd like to know what you think. Please drop a comment below.

The 100k (or less) wedding goal

The Perfect Dream Wedding
Last September, on my 27th birthday, I received the most perfect gift of all -- my boyfriend (now fiance) of more than 4 years popped the question.

Instantly right after that, my days became filled with dreams of a grand wedding - a princess like wedding gown, an elegant and whimsical garden reception, string quartet, gorgeous flower arrangements, candy buffets, photobooth, after party mobile bar sessions and all those other wedding "trends". I bet there is no girl in this world who did not dream of that picture perfect wedding where everything is elegant, beautiful, and sparkly.

Thanks to wedding fairs and the Internet, I had an overwhelming number of ideas on how to make my wedding day unique and stand-out. Everything seemed perfect and fun - grand entrance with butterfly releases, themed out-of town e-sessions, 5-layer personalized fondant cakes, tailored matching bridesmaid/grooms attire, professionally styled reception venue - the list is endless.

And then, reality steps in and pops your bubble. It asks "How much does your fiance have? That costs around Php300,000". AW! (>.<)

The Reality of a Dream Wedding - BUDGET
So, does he have that kind of money? After that realization, I asked my fiance to sit down with me to talk about one of the foremost realities in planning a wedding - budget.

As I read in several articles from the Internet, the second thing couples-to-be must settle (the first is the wedding date) and discuss openly is the wedding budget.

To share or not to share?
In the OLD past, guys are expected to shoulder all of the wedding expense. There are even traditions of giving some form of "dowry" to the family of the bride which may be money, farm animals, heirlooms, or an extra after wedding reception solely for the bride's clan (this happened on my Tito's wedding).

But today, due to the rising cost of gasoline (and everything else), our guys were cut some slack and are now only expected to have the majority share in the wedding expense - especially if both of you are aware of each other's current financial standing.

So, to share or not to share? Well, it all depends on both of you. I know some guys who would insist on sticking to the tradition to pay 100% (even though they have to loan the money, don't know if it's pride or what) while there are some who are open to the majority share thing. Same thing applies to the women.

In our case, I know very well my partner's financial capability. I did not ask him anymore if he could pay up the entire thing, I told him right away that we're doing the majority share thing. I did not want to put him in an awkward (and maybe humiliating) position of admitting he can't pay up. We agreed to a 60/40 division and he will have to buy the rings.

Parents share?
From the very start I know I wouldn't ask (maybe if they volunteer and it is the very very very last resort I will) my parents to shoulder some expenses. Why? I don't want them to have a say on what my wedding should be. That may be harsh to read but how many horror stories have we heard about parents inviting guests you barely know, STRONGLY suggesting ideas for motif color, location, sponsors, etc. etc. Besides, my fiance and I are both working so I think that we should spare our parents this expense because we are OLD enough (we're already getting married right?) for this responsibility.

My fiance already lost his parents, so he's got no choice but to depend on himself. My parents know this and since my family is in a better financial standing than he, is my parents offered to help and told us to just ask anytime if we've reached the end of our strings.

So back to the question, DO WE HAVE THAT KIND OF MONEY?
I do. He doesn't. Even with the sharing set-up, the ~300k dream wedding budget will wipe his bank account clean and is credit record soaring.

This is the reality of a wedding - this is one of the realities of marriage. Finances. Compromises.

Do we postpone the wedding plans until he has saved up that amount? With his current salary and all the other investments we're paying up (we bought a vacant lot in 2011 and a separate house and lot this 2013) It will take him  two years to put that money up. And there's no freaking way I'll wait that long.

What you need vs what you want - knowing and accepting your limits
This statement made everything clear. I need to get married, and to do this I technically just need a marriage license and a church. Pretty simple right? I bet that would cost around P10,000. BUT, I also want a solemn and memorable wedding. I now know our limits and I decided to accept them and stick with it. I want the butterfly entrances, I want the sparkly princess wedding gown, I want the extravagant reception set-up BUT I don't need it to make my wedding memorable and fun.

Also when you think hard enough, the wedding day is just one day in your life. Yeah, I can hear the "oh but that's the one day you'll never ever forget". But my fiance ending up with a huge loan (which we will eventually share as husband and wife) will also be a day we will never ever forget (at least until we're done paying).

It is hard to let go of your dream wedding, for all I know you've been dreaming about it since you're a kid, but I realized that practicality on this single day affair will yield more benefits. In my case, since we already bought a house I imagined being able to buy major appliances and furniture from the money we will save (you know it, you'll be receiving 3 rice cookers, 3 flat irons, a dozen glassware as wedding presents but no TV or sala set). Or spending it on a honeymoon abroad, which is also an event I bet we will never ever forget. Or just the secure feeling of having enough to start on your own, debt-free.

So, with all that thinking I decided for the best. A simple and memorable wedding on a budget that won't scar our pockets - P100,000.

"Is that even possible?!" I can hear you saying that. Well, I don't know for sure. But that is our limit, so we have to work hard on that. The Internet is teeming with tips and tricks to do that, and I intend to explore them all. This blog is born to document the steps I would take to make that possible. The only I technique I know to keep me sticking to this goal is to ask myself every step "Is this a need or a want? Do I need this?".

What do you think? This just made my wedding planning more fun and exciting. Join me in this wedding adventure!

So P100,00 (or less) wedding goal, commence! :)


*English is not my native language. I hope you'd spare me the grammar lectures.
*I'd like to know what you think. Please drop a comment below.