How To Create A Wedding Budget

1. Estimate what you can save.

Multiply the number of months left until the wedding by how much money you and your groom can realistically put aside every four weeks.

2. Talk to your families.

Get up the nerve and ask your parents and his if they’re planning to chip in for the wedding. If they are, ask them for a specific amount. Now’s also the time to ask any other potential donors, like grandparents, if they’re planning to help out, too.

3. Do the math.

Add up your total contributions. Subtract from that number 10 percent, which you should set aside for cost runovers. Now you’ve got your target budget.

The average cost of an Nigerian wedding? N1.5million. Start saving, jor!

The Money Trail

Who’s footing the wedding bill in 2012? Here's the breakdown:

59 percent: You and your groom

12 percent: Your parents

1 percent: His parents

28 percent: A combo of people

Where Does All The Cash Go?

For a general idea of how to divvy up your budget, check out this wedding-expenses guide. It’s based on how an average couple with 152 guests, five bridesmaids and five groomsmen allocate their dough. Remember, though, this is just a guideline—so read it over, then prioritize your pennies in the segments that mean the most to you.

Groom’s Formalwear (Rental): 1.1 percent

Favors: 1.3 percent

Officiant: 1.5 percent

Hair & Makeup (Including Attendants’): 1.8 percent

Attendants’ Gifts: 2 percent

Invitations & Other Printed Materials: 2.8 percent

Transportation: 2.9 percent

Flowers: 5.7 percent

Wedding Rings: 6 percent

Music: 6.8 percent

Wedding Dress, Veil & Other Accessories: 7.5 percent

Photography & Videography: 13.6 percent

Reception Site, Meals, Cake & Drinksr: 47 percent

What's the most important part to you and your groom when creating a wedding budget? If you've already started your budget, do these guidelines match up? Let’s know what you think!