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Wedding Budget Calculator Manage your wedding expenses

Posted By Seraj Ahmed

Sep 12, 2020


An Indian wedding comprises of different kinds of preparations and expenses. Read this Wedding budget calculator that will streamline your wedding expenses.

Introduction-

An Indian wedding comprises of different kinds of preparations and expenses. Vendors have to be assigned with different tasks and due to the costs associated with all these activities; you find it hard to plan a budget accordingly. Therefore, we are providing you with an online budget calculator tool that will not only help you manage your budget but it will also allow you to cut down your wedding cost dramatically. Now, let us look at the different aspects associated with this online Indian wedding budget calculator.

Wedding services classification (VED Classification)
For your convenience, we have classified the categories into 3 types viz. Vital, Essential, and Desirable.

Let us see these types one-by-one:
Vital

  • This includes the aspects that are the most important in an Indian wedding. Therefore, we can say that these are categories without which it would be hard to imagine an Indian wedding.
  • It includes categories such as wedding venue, catering services, jewelry, bridal accessories, groom accessories, etc. You can easily notice that more than 62 percent of the budget will be consumed by these categories.  

Essential

  • This consists of the aspects without which a wedding will not seem to be happening. Therefore, we can say that this type comprises of categories that bring an aesthetic value to grand Indian weddings.

  • Categories like flowers, photography, lighting, and decoration, wedding cards, beauty and health services to bridge and groom, etc. are included in this type. The categories of this type usually consume around 21.5 percent of your total budget.

Desirable

  • This comprises of the aspects that you would wish to include in your wedding. For example, transportation, accommodation of guests, entertainment, and such other expenses fall under this type.

  • The categories of this type usually consume around 16.5 percent of your total budget.

wedding budget calculator bookmywedding

Wedding budget categories-
For making it easier for you to manage your budget, we have provided 3 categories of the budget as well.
Note: The budget allotted to a specific category can be increased or decreased as per your requirements. Therefore, the final percentage of the categories can change according to your wedding preferences.

These categories are as follows:

Category 1 (Budget up to 20 lakhs)
If your wedding budget is up to 20 lakhs then most of the budget will be distributed between the venue, catering, and jewelry which are the vital wedding expenses. The remaining budget will be divided according to a set percentage in the remaining categories. You can reduce your wedding budget by choosing a venue which is located outside the prime locations in your city. Wedding halls, garden halls, and other wedding venues that are located
in the heart of the city are quite expensive as compared to the venues that are located on the outskirts.

 

Category 2 (Budget from 20 up to 50 lakhs)
If you can spend up to 50 lakhs on your wedding then the essential categories or expenses will be allotted with an extra budget. However, the maximum part of the budget will still be allotted to the vital categories. Moreover, you can allot extra budget to expenses such as decoration, lighting, flower, bridal and groom accessories, etc. when your wedding budget is up to 50 lakhs. Thus we can say that as you increase the budget, the vital expenses will include a few essential categories and some categories belonging to the desirable categories might be included in the essential expenses. As a result, venue, catering, jewelry, and decoration will take up most of your budget if you can afford to spend up to 50 lakhs at the wedding.

 

Category 3 (Budget above 50 lakhs)
Similarly, if your budget is over 50 lakhs then the vital expenses might include a few more essential expenses and you can also add some of the desirable expenses to your list. Therefore, most of the categories will now fall under the essential expenses and the desirable expenses will be left out only with a few options. The venue, catering, decoration, wedding planner, jewelry, honeymoon, bridal and groom accessories, photography, health and beauty, and entertainment will fall under essential expenses and the remaining expenses will fall under desirable expenses. From this, we can conclude that we can curtail the budget over 50 lakhs by reducing the desirable expenses.

How does this calculator work?

To understand how the calculator works, you will first have to enter your estimated budget. After that, the budget will get automatically divided into 18 different categories. Each of these categories is further divided into sub-categories. Also, you can find that some of the expenses can be deleted whereas some of the expenses cannot be deleted since they are very important.
You will also notice that each of the expenses has an option ‘final cost’. This option is to enter the final cost of a particular expense once you have covered everything related to it. This gives you the facility to compare your final budget with the estimated budget. Therefore, the final cost of the wedding will change when you keep updating the sub-categories as per their actual costs.
After that, if you click on the ‘Payment’ option in the window you can select whether you have paid for that specific expense or if the payment is pending. Also, the paid amount, date, name of the payer, and expiration date can be entered.

Don’t forget to click on the ‘Save” button once you have recorded all the details.
If any of the services or expenses are not mentioned in these categories then you can add it under a specific category by using the ‘Add New Expense’ option. Here, you can mention the expense, the estimated budget, and select a suitable category which will make the expense easy to find whenever you require the details of it. Moreover, you can customize the budget of each category by changing the values that are set automatically in the sub-categories once you enter your estimated budget.

 

Example:
Now we will understand how this budget tool works with the help of an example. Let us select the default budget i.e. 10, 00,000. After selecting this as the estimated budget, the catering expense or category will be automatically set at Rs. 2, 30,000. Once you click on ‘catering’, a new window will open up which will consist of the division of expenses or subcategories. Here, you can see that six of the subcategories are fixed whereas 5 of them are optional and therefore you can also delete them by clicking on the ‘delete' icon. You can also add expense or subcategory by clicking on the ‘Add new expense'.

Now, let us say that you do not require a cake as per your wedding tradition. Now, the estimated budget of Rs. 4600 reserved for the cake will be wasted. You can simply leave the final cost of the cake to be zero as the cake expense cannot be deleted. Moreover, you can add another expense or distribute the expense of the cake in other subcategories so that your estimated cost and final cost get balanced. For instance, I will use the budget allotted to the wedding cake in the ‘Mithai and other sweets’ expense. Now, if I use the Mithai budget completely then I will spend Rs. 4600 plus Rs. 9200 (which is already allotted to the Mithai expense). Therefore, the final cost of the Mithai expense will be Rs. 13,800 which I will enter once all the costs are covered under this subcategory.
 

You will see a column or section named as ‘Paid'. This is for the expenses that you have already paid for. Ideally, the estimated cost, final cost and paid should be equal which means that you have paid for all the services and expenses. Similarly, as you pay for the other expenses, you will click on the ‘edit’ button. After that, you will select the payment option and select the payment mode to be paid if you have completed the transaction or pending if you have not yet paid for that expense. Now, enter the amount, name of the person who has done the payment, payment date, and expiration date. Once you enter the details completely, click on the ‘Save' button. We hope that by now you have got a fair idea on how to use this wedding budget calculator tool.

Here are a few benefits of using this budget tool:
Estimation
This budget tool gives you an approximate estimation of your wedding expenses. You will get an idea about the money that you would be spending on each of the vendors based on your total budget.

Adjusting costs
This budget calculator allows you to adjust the budget as you keep managing your finances and the calculator will automatically re-adjust the individual budgets allotted to each vendor. We hope that this wedding budget calculator helps you to manage the budget for your wedding in a seamless and hassle-free way!

wedding budget calculator

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