11 Money Management Tips for Your Wedding Expenses

Precious moments like weddings require careful preparation, including financial planning. If you are planning a wedding, it's a good idea to consider some smart tips for managing your finances so that your wedding budget can be well-planned. With this guide, let's make your dream wedding a reality without emptying your pockets!

Preparing the Wedding Budget
Here's a list of wedding expenses you must prepare together with your partner before the D-day:

• Marriage Registration
  Ranging from approximately IDR 600K to IDR 1 mio, the cost depends on the policies of your religion and the relevant institutions.
• Venue Rental
  With significant variation, venue rental costs can range from IDR 3,5 mio to IDR 30 mio. The final price depends on the type of venue, location, and facilities offered.
• Catering
  The cost ranges from IDR 20 mio to IDR 70 mio, with an estimated 200 servings of food. However, this amount can change depending on the menu, the number of dishes, and the number of guests invited.
• Bridal Makeup and Gown
  The cost of the bridal gown and makeup is around IDR 3 mio to IDR 15 mio. The price may be higher for events with traditional ceremonies or special attire.
• Invitations and Wedding Favors
  Wedding invitation costs range from IDR 1,5K to IDR 10K per piece, while the cost of wedding favors can start from IDR 1,5K to IDR 50K per item.
• Photography and Videography
  Wedding photography and videography costs range from IDR 2 mio to IDR 12 mio, depending on the number of photographers and videographers and the desired quality.
• Venue Decoration
  The estimated cost of wedding decoration can start from IDR 3 mio to IDR 8 mio, depending on the concept's complexity and the venue's size.
• Outfits for Family Members and Attendants
  The cost of family outfits and outfits for bridal parties, such as bridesmaids or groomsmen, is estimated between IDR 75K and IDR 300K  per outfit.
• Wedding Entertainment
  The cost of hiring music services ranges from IDR 2 mio to IDR 10 mio, depending on the type of music and the complexity of the event.

Pre-wedding Money Management Tips to Try
Financial planning before marriage is essential to ensure financial stability and smooth wedding preparations. Here are some financial planning tips:

• Create a Joint Financial Plan
  Discuss financial plans with your partner. Make a list of all monthly expenses and allocate funds for each category, including wedding savings and long-term goals after marriage.
• Prioritize Financial Transparency
  Be open about your salaries, debts and assets. This strategy is crucial to understanding each other's financial situations and building trust in managing finances.
• Set Financial Goals
  Create short-term and long-term financial goals together. For example, buying a house, going on vacations, investing, and more. This step helps you focus on shared goals and expense control.
• Create a Joint Budget
  Based on your plans and goals, create a budget covering regular, wedding, and other expenses. Ensure that the budget is realistic and easy to follow.
• Separate Your Finances
  Consider having a joint financial account for shared expenses and personal savings for individual spending. This compartmentalization helps maintain financial independence and avoid conflicts.
• Prioritize Your Debts
  If you and your partner have outstanding debt, create a plan to pay them off and reduce your financial burdens.
• Save for Emergency and Investment
  Allocate some funds as emergency savings in case of unexpected events, such as expenses or job loss. Additionally, discuss investment strategies and retirement funds based on each person's risk profile to support a comfortable life.
• Find Financial Solutions Together
  If you don’t see eye to eye on how to manage money, seek solutions accommodating both sides. Communication is critical to reaching a mutual agreement. For more objective opinions, don't hesitate to involve a financial expert when consulting with your partner.
• Control Impulse Buying
  Avoid unplanned impulse purchases. Before buying something, consider whether it is genuinely needed and aligns with your financial plan.
• Evaluate and Revise
  Periodically evaluate and adjust your financial plan based on changing circumstances to help you maintain financial stability.

By following these wise steps in managing finances before marriage, you and your partner will have a solid financial foundation to start your wedding plans. Now, PermataKTA offers various solutions to help you meet your wedding budget.

For example, you can receive cash funds of up to IDR  300 mio in just 10 minutes. The interest rates are competitive, starting from 0.88% flat per month, equivalent to the effective interest rate. Moreover, you can easily apply through your smartphone using the PermataMobile X app! So, don't hesitate to rely on PermataKTA to create your dream wedding and ensure a lasting relationship with your partner.