The cost of the average wedding is rising by the day. And this isn't even in reference to the largest weddings, or the most elaborate ceremonies. The average wedding can easily run into the tens of thousands of dollars. Of course, just how many tens of thousands of dollars is largely dependent on where you live. A wedding in midtown Manhattan is going to be a bit pricier than one in Muncie. That's doesn't mean that the Muncie wedding won't be as beautiful — it's just a reflection of the high cost of living in certain areas of the country.

Some couples don't mind emptying their piggy banks to finance a large in-town affair. It's their dream wedding, and they wouldn't have it any other way. Other couples price reception halls and limousines and wonder if it wouldn't be less expensive to go another route — specifically, the destination wedding route.

Benefits of a Budget

The word budget conjures up images of a 1950s housewife diligently pinching pennies (and enjoying it). Truth is, many men and women of marrying age these days have never even considered creating a budget — and wouldn't know how to if they were forced.

Why would anyone want to budget for a wedding, you ask? Between the two of you, you have two paychecks and twelve credit cards and since you're such excellent consumers, your credit limits are, shall we say, substantial. Why establish credit in the first place if you shouldn't use it for big expenses — like, say, a wedding?

It's not a matter of whether you should use it, because, as you'll read in the following section, it's actually advisable to use your credit card for some of your wedding expenses. It's more a matter of knowing the bottom line: How much can you spend on a wedding without putting yourself into debt for years to come?

One very easy way to budget for your wedding is to create a separate wedding account to be used for wedding expenses only. If you and/or your fiancé have been saving for this event, put that money into the account. Maybe you want to deposit part of every paycheck into the account. Set up a direct deposit with your bank for that purpose. If your parents are giving you money for the wedding, stash it away in this account. You'll end up with a very solid idea of where you stand and how much you can comfortably afford. You also will know right away if and when things start getting too expensive.

Credit Card Caution

For many couples, a wedding is one of the biggest expenses they'll incur until they set out to buy a house. Unless you have some experience with long-term, high-cost purchases, you may not realize that you'll be faced with option after option, and pretty soon, money can almost become meaningless. (“What? $400 for these hand-beaded shoes? Oh, who cares? I just spent $200 on a purse, and $5,000 on my gown. I'll take them!”) You're unlikely to make too many overspending errors if the money is coming directly from your wedding account. You'll feel the bite — and the resulting panic and guilt — almost immediately.

However, the flip side of the coin is that your credit card offers you a measure of protection, something you need when you're paying big bucks for a wedding. Let's say that your wedding dress arrives tattered and torn at the bridal shop. If you've paid by check, your money is gone. Good luck trying to get the shop's owner to order another dress at her expense. You can call your credit card company, however, and ask them to help you fight that charge. At the very least, the store owner won't get paid until the issue is resolved, and that could take several weeks. Businesses are more willing to work out a happy compromise when faced with a loss of revenue.

Realistically, when planning any sort of wedding, you're going to have to flash your plastic for the larger expenses. Here's how to keep your spending in check:

• Have a wedding expenses log. Use Microsoft Excel if you're really good with the computer; use Word if you aren't. Heck, use a notebook if you hate the computer, but keep track of your spending. At the end of each day, you and your fiancé should note the planning/expenses you've tackled that day.

• Use your credit card for larger expenses. You'll have to book your hotel and airline tickets with your card, and it's always good protection in the event of some sort of monetary dispute with any wedding vendor.

• Pay for smaller purchases with cash or check. It's not so hard, actually, to remember that you charged your resort package on your card. It's those smaller expenses (such as shoes, undergarments, clothes, and other provisions for your wedding week in the sun) that add up quickly. Keep your receipts and cancelled checks in one neat folder or file at home.

Credit is not necessarily synonymous with bad spending habits. It's an old piece of advice, but it holds true: Use your credit wisely and sparingly. You'll thank yourself later.