Wedding is a once in a lifetime event in a person’s life and therefore as much as possible it should be perfect. The food, venue, invitations, program, emcee, singers or band, flowers, tables and chairs including the wedding dress, the tuxedo, entourage and other customary things should go in accordance to the plan and most of this planning involves going with the tradition especially in Malaysia. Of course the preparation should also include the pictures as it would mark the most memorable moment of your life. However, it is not that easy to get everything fixed.
Even though you picked a wedding planner of course it will still involve you and your partner’s decision making skills. The most important thing that you should take into consideration is the budget you are going to allot for the said event and a Wedding budget calculator will help you get through this. It’s not bad to spend a big amount on your wedding but make sure that you still have enough budget left for you to start a family. Of course after the wedding, you will be having the family of your own and it’s not good to start a family without a savings.
How to Set a Wedding Budget
Wedding budget should be set a year before the wedding so you can still be able to fund for it. But if the wedding is near and you still do not have enough savings well a loan doesn’t sound bad. However, ensure that the amount you are going to loan is not bigger than your combined 2 months income. This will ensure that you can pay the said amount in time and that you will still be able to save enough for your family.
If you borrow more well you’re in for a big problem as being married does not only end with the wedding celebration but it also involves getting a home for you to have your happily ever after in your love nest. Good for you if you have prepared your love nest ahead of time but if ever you have not, well think this over and over again.
How to find out the tentative expenses
The budget should be set to determine the expenses so to ensure that you are still in the boundary of your budget it’s wise to have a wedding budget calculator. This budget calculator will help you have a tentative total of the expenses that you will have which will determine if you need to loan extra money or not.
What to do
Wedding budget calculator is attached on the end part of this article and this will be on excel version to help you total the tentative amount you need. You just need to key in the cost for the things that you are needed for your wedding under the “Amount” title on the spreadsheet items. The spreadsheet also comprises basic items that are really needed for your wedding but there are also items that are included so you have an option to choose from. If you think that some of the items are not needed on your wedding you just have to key in 0. The total amount that you will need will then be shown under the Total Expenditure Cell in the wedding budget spreadsheet.
The good thing about weddings in Malaysia is that you can be able to receive Ang Pow from the guest which can also help to cover the expenses of your wedding. Ang pow is a small red envelope which is a monetary gift given to the wedded couple. This envelope symbolizes good luck and is said to keep away the bad spirits. This is one of the legacies of the Chinese ancestors to Malaysia and this signifies good will to the couple. It is said that it is given according to a favourable number like for example the number 3, 6, 8 or 9 that means luck, prosperity, longevity and rebirth. But there are also unlucky numbers like 5 which sound like “em” in Cantonese that means won’t or can’t and 4 that indicates death.
The Ang Pow you will receive will also be included in the Wedding budget calculator which will be under the cell “Ang Pow Received” in spreadsheet 2. This is given in a more realistic view in such a way that it is postulated that it will only cover 70% of the total wedding cost because of missing Ang Pows or no show guests.
So do I need to make a loan?
To be able to find out the needed amount of loan for your wedding you must deduct the tentative expenses from the total amount of the Ang Pow money you have received. This will be shown under the “Loan required” on spreadsheet 2. This will help you to know if your savings is enough to cover the expenses of your wedding or if it will fall within the loan that is equal to your 2 months combined salary. If the required loan goes beyond your 2 months combined wage then its best that you go back to the “Items” panel and recheck if you can replace other things with a cheaper alternative or if you can omit other items that are not that essential to have. When this is done, you can be rest assure that your financial status wouldn’t be on the rocks after the wedding. Being wise is better than ending up with zero balance on the bank and a big loan after your wedding.
So start being wise and download our wedding budget calculator especially formulated for your needs.
Anything to add on? Share your opinion with us by leaving a comment. Our professionals are waiting to help=)