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How to control the cost of your wedding
Are you planning to get married soon? If so, it is only a matter of time before the race to do all the preparations begins: the hall, caterer, bridal gown, photographer, music, decorations, invitations, cake, honeymoon, and more. The long list of purchases keeps growing right up to the big day and there is a risk of quickly exceeding your budget if you do not keep track of your spending.
How to keep spending on track:
- Set a total budget for the expenses for your wedding day.
- Make a wedding budget worksheet. List all the things you want for your special day, and divide up the total budget according to your own priorities.
- Save all your receipts to compare your actual spending to your budget estimates.
- Track your spending regularly to make sure you stay within the budget.
In addition to helping you control your expenses, a budget can help you save for other goals, such as travel or a down payment on a home.
To help you with budgeting and saving, the Financial Consumer Agency of Canada (FCAC) has developed an interactive budget calculator. This tool can be downloaded from fcac.gc.ca and then saved in your computer for calculations when needed. For additional tips on how to manage your personal finances, you can also follow @FCACan on Twitter and on YouTube.
Source: Financial Consumer Agency of Canada (FCAC)
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