Love and marry with a smart plan for wedding expenses

I advise young people to be encouraged to love and marry and not to be afraid of wedding expenses. So, please complete the article to know how to get a smart wedding budget. 

To-do lists for newly engaged couples can be daunting. Finding a venue, booking a caterer, choosing a dress - there are a lot of details to consider in the wedding budget, no matter who is paying for it. Starting a new life together is a great opportunity to establish sound financial habits that will help you throughout your married life. Certified FINANCIAL PLANNER™ professionals can help couples create smart plans to manage engagement and wedding expenses. Setting priorities early can help avoid conflicts as the big day approaches. Start by considering the following four elements of your wedding plan:

You should make a list 

Write down everything you need or want for your dream wedding. This includes things big and small, from the number of guests to flowers or gifts.

Customize your list 

When you have a list, you should prioritize the items. Number each item according to its importance, such as a live band, dinner on the table, or elaborate cake. Or start sorting your needs and wants, 1 being the most important, 2 being the most important, and 3 being the least important. In any case, the main points must be agreed. Budget your list. Assign a rough price to each category or item based on how much you can and are willing to spend. For example, consider choosing flowers to pay for the dinner or opting for a buffet dinner to invite more guests.

Listen to the list

Now is the time to listen carefully. Listen to your partner's needs and wants. What is important to one person may not be important to another. Financial compromise is a skill that will come in handy in your marriage.

According to data from Credit Services, about 45 percent of married couples have debt to pay for their marriage, and that debt eventually led them to consider divorce. Overcome this risk by avoiding debt when calculating wedding expenses. A CFP® expert can help break stereotypes and make smart financial choices during the wedding planning process. Visit LetsMakeAPlan.org to learn more about managing wedding expenses and planning for your financial future.