How to withstand financial pressure

As the maid of honor, you also bear significant financial responsibility—ranging from the costs of your own grooming and styling to the gift for the newlyweds and other items previously described.

Although some expenses are unavoidable, there are resources and tactics that can help you stay within your budget and avoid ending up in debt once the wedding is over.

Below, we present three simple steps for managing your finances so you don’t end up overspending or exceeding your financial limit. All you need to do is follow the steps. The ultimate goal is for the allocated spending budget to exceed actual expenditure.

We definitely recommend doing some research before you swipe your card. You might find the dress you want from another manufacturer at a lower price, or—if you’re having it custom-made—another seamstress might be able to sew it for less than the first quote you received. If you know this wedding will place a heavy financial burden on you, consider renting items or buying them second-hand.

1. Determine the required budget

Instead of paying expenses as they arise, plan ahead so you know exactly how much you want to (and can afford to) spend. Calculate roughly how much money you will need for the wedding.

Call a few beauty salons and ask about their prices for the treatments you want, call hair salons to ask about the cost of a hairstyle, check the approximate prices of dresses online, and so on. Always factor in the maximum possible cost and round all prices up.

Once you have tallied up all the costs and arrived at an approximate figure for the wedding, add another 10% to cover the possibility of items costing more than planned or unexpected expenses arising. Now you have a clear idea of ​​how much money you need for the wedding.

2. Create a savings plan

If you already have the money and know you won’t need it for essential expenses—such as utility bills, your mobile phone plan, and the like—transfer it immediately to another account, or withdraw it and put it in an envelope designated for the wedding so you don’t spend it.

If you don’t have the money—which is more likely, given the timing of the wedding—create your own savings plan. You can open a bank savings account and set up an automatic monthly transfer of a specific amount, or simply put a set amount into a wedding fund envelope once a month.

Our advice is that if you are opening a savings account—and the bank allows it—you name the account “Maid of Honor Budget.” Naming your savings accounts is a smart move because it helps you visualize the purpose; it is somehow harder to dip into the “Maid of Honor Budget” to pay for something unrelated than it is to take money from a generic “Savings Account 1.” Also, keep in mind that some items need to be ordered well in advance of the wedding.

3. Keep track of expenses

Record every expense—even the purchase of pantyhose or hairpins—in your expense tracker. We recommend creating a note on your phone titled “Maid of Honor Expenses”; if you don’t have your guide handy, jot the expense down there and transfer it to the guide later.