Wondering how to plan a wedding on a budget? Weddings can be incredibly expensive. A wedding budget spreadsheet will help you keep your expenses in control by keeping track of your spending. It will help you to spend only as much as you can afford while planning for your wedding.
How To Make A Wedding Budget Spreadsheet On Excel?
You can use a Microsoft Excel spreadsheet to record every cash flow transaction and schedules. You need to ensure that every expense is included. Make sure to include expenses for the venue, church, invitation, food, clothing, wedding planner fees, photography, accessories etc.
Firstly, determine an amount that you can afford spending. Include all your sources of funds such as personal income, family contributions etc. This amount will give you a concrete figure for you to base your budget upon. Here’s how you can do it in excel:
1. Open Excel. Go to “File” on the the upper left corner and click on ‘New.’ A new Excel spreadsheet document will open.
2. After opening the document, go to ‘File’ and click ‘Save as’. Enter your document name and save your spreadsheet. This will allow you to revise it periodically without losing any data.
3. Click on the top row. Select the second box and enter data into this box (cell). Label the cell as ‘Expense’. Next, click on the cell on the right. Label a few columns as: budget amount, estimated cost, dealer calculator estimate and final cost.
4. Refer to the initial list of expenses in order to determine how to arrange the spreadsheet. Click the second box within the first column to enter the first priority expense label. Next, click on the below cell and enter your next label. Enter all the expense labels and click ‘Save’.
5. Enter the estimated expense of every item next to the expense column in the estimated cost section of your spreadsheet and click ‘Save’.
6. To cut any item, you can delete the corresponding row by right-clicking and selecting ‘Delete Row’. Alternatively. you could leave it as it is and accommodate it at a later stage in your planning process.
7. After coming up with a budgeted amount for every item, click the first cell under your budget amount label to enter a budgeted amount and the corresponding expenses. Click on a relevant cell to enter every new expense. You need to enter all of the data and click on ‘Save’. Thus, you will get your budget.
8. After getting estimates for various items from different dealers, you can enter each amount within the row for a specific item under the ‘dealer estimate column’. As you finalize costs and arrive at a decision, you must list these final costs for all items within the ‘final cost’ excel column.
The best feature that is included within this type of a spreadsheet, is a contingency column. It will allow you to allocate almost 10% of your total budget towards unforeseen expenses which could arise during the planning stage. It will cover every expense that doesn’t go as planned.
Contingency funds are supposed to be used only in case of any emergency. It is not to be used for unplanned items that have been added. Thus, for instance, the funds can be utilized in case the flower bouquets you have ordered, are not delivered and you are ordering from another vendor who is charging more.
Keeping Your Wedding Expenses In Check!
There are various websites over the internet that offers free to download wedding budget template. You can easily create a spreadsheet in excel. You could choose the one which comprises of all the items you intend to include for your big day. Some of these can be easily customized to meet your specific needs. Most people, especially brides, tend to add excess items during the planning stage. If you plan properly, it will be easy for you to stick to the original budget.
To ensure that your spreadsheet is effective, you should carry out some research. Before setting out your budget, take an estimate from various suppliers. This will give you an opportunity to compare different prices offered in the market prior to settling on a specific vendor.
For each item that you plan to include within your budget, you must ensure that you get a minimum of three estimates for each one of them. Look at various vendors to help you bring down the cost. After making a purchase, you need to ensure that you obtain a receipt. This will help you in accurately filling out your spreadsheet.
Often, the smaller items tend to disrupt your budget. In case there is something that does not fall within your budget, just leave it out as it could hamper your planning process. The simplest of changes such as ordering extra flower or decoration arrangements, can add up to your overall expenditure.
How To Plan a Wedding on a Budget?
Planning your big event of your life can be fun, exciting and stressful all at the same time. If you succeed in proper planning, it could save you a lot of money. There are several items and services that need careful consideration. Do not get caught up with unwanted glamor as it could result in financial burden after the day has passed. One effective way to prevent overspending, is to allocate proper budget.
You must decide at the onset, the available funds which you are willing to spend, to make your day the way you desire it to be. Set a total estimate and then start working backwards by allocating funds towards different services. Allocate an excel column for your projected costs and a separate column for the actual costs incurred when you start spending the funds. Regardless of the amount you allocate towards your budget, you must stick to your spreadsheet to avoid financial constraints.
Your spreadsheet must include an extensive list of every single item that you require for your wedding. You need to also allocate the amount of money you can spend for each one of these items. A spreadsheet must be used for the entire planning. Each time you buy something, you must use it. You can make your spreadsheet effective by updating it regularly.