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Wedding Budget Management

Gouratish Kashyap
The Event Choreographer

Muhurta Weddings 
 The Wedding Designers and Planners

Communication is key: Discuss with your families about who will be paying for what. Some brides' families still pick up the entire tab, but more groom's families are participating too. On average, according to our 2015 Real Weddings Study, the bride's parents cover 44% of the wedding, the bride and groom cover 43% and the groom's parents cover 12%.
So, how should you broach the subject? For many couples, talking to each family separately is the best way to have open and productive discussions. 

Who plan your Wedding budget. We are coming with some simple calculations.

Here are some helpful guidelines to help you and your families determine an initial budget:
Ask both sets of parents to commit to a specific dollar amount, and then add up all the contributions to create your budget.
Alternatively, ask each set of parents to finance a particular aspect of the wedding (such as the ceremony, honeymoon or catering).
Decide how much you and your fiance can contribute between now and the wedding.
How Much Do You Actually Need for the Wedding?
Just like buying shoes, an apartment or a pair of jeans, when it comes to financing a wedding, you should determine how much you need to spend for what you want. Depending on your personal preferences and budget needs, you'll want to decide which elements of your wedding to prioritize—basically, what to save on versus splurge on. Then, set your expectations accordingly. Here are some helpful stats to give you a general idea of how couples typically allocate their budget:
The average cost of a wedding is about  Approx 20 lac In Indian Currency (excluding the honeymoon).
Here is a basic breakdown of what you can expect to pay:
Reception: 48%-50%
Ceremony: 2%-3%
Attire: 8%-10%
Flowers: 8%-10%
Entertainment/Music: 8%-10%
Photography/Videography: 10%-12%
Stationery: 2%-3%
Wedding Rings: 2%-3%
Parking/Transportation: 2%-3%
Gifts: 2%-3%
Contigency : 8%
To avoid stress, allow about 5% of your budget for a "just-in-case" fund.
And definitely, don't forget to budget for your honeymoon if you're covering it yourselves!
How Much Should You Save for the Wedding?
As soon as you're engaged, start putting aside as much of your income as you can for the wedding. Saving 20% of your monthly income is a good, albeit challenging, goal. The longer your engagement, the more you'll be able to sock away.
Ways to save: Limit your spending on small stuff (rent movies instead of going to the theater; switch from a twice-a-day latte run to once; hit the trails for a run or bike ride instead of taking costly workout classes). These changes will hardly affect your quality of life, but after a year, the extra cash will help cover some wedding essentials (and they're not forever!).
Make the most of your money: Instead of stashing your money in a low-interest savings account, consider buying CDs or opening a money market account. The interest rate can be double that of a savings account. Just check the fine print to avoid penalties.
Wedding budget sheet Download