All couples have varying financial resources and differing expectations for their wedding. That said, it's still important for you to get a feel for some general guidelines. Follow three couples as they plan their budgets.

A Modest Budget

Susan and her fiancé Nick are planning a modest wedding with about two dozen friends and family members. They're college sweethearts who are about to graduate. Because their parents helped a lot with college, Susan and Nick don't want to ask them to pay for the wedding. They are both starting new jobs, so they don't have much money or time.

Together they have established an objective of saving on wedding expenses so they can put a down payment on a house in the near future and begin paying off some student loans.

In spite of their long-term financial goals, there's no need for Susan and Nick to feel they are compromising on the quality of their wedding. According to Susan, “When it really comes down to it, Nick and I don't want a lavish wedding. We'll just have those people who are really special with us on our wedding day.” They'd like to hold their expenses under $5,000. Theirs is a modest budget.

A Moderate Budget

Kylie's parents are paying for her wedding. They're working with a budget of approximately $20,000. Her fiancé's parents may pick up a few traditional expenses as well. Nevertheless, Kylie and Sean are staying conscious of expenses; they don't want their parents to feel strained. Let's call their budget moderate.

A Luxurious Wedding

Lynn and her fiancé, John, have been living together and sharing expenses for the past two years, and they command high salaries for their careers as real-estate consultants. Together, Lynn and John have set up a checking account with $50,000 designated for wedding expenses.

“We want to celebrate our wedding day with a big party and invite all our friends and some business associates,” Lynn explained. “Our jobs are dynamic and our days are long, so I'm hiring a wedding consultant to help me plan the wedding. We're pulling out all the stops to have a lavish, elegant day.” Lynn and John's budget can be called luxurious.

What's Your Budget?

First, sit down and decide how much you can spend.

That's your bottom figure. Then decide how much you could stretch that if you had to. Your budget must include a substantial cushion to cover any miscellaneous or unexpected expenses. Even if you are a strict budgeter, plan for a certain amount — what you feel you can afford — for unexpected expenditures.

Given your own sense of how much money is “a lot” as well as what you've read in magazines or heard from friends, determine which category your budget falls into: modest, moderate, or luxurious.

Of course, what these categories really mean will be different depending on which part of the country you're in and the locale of your wedding. For example, a budget some would consider moderate in Crossett, Arkansas, could be termed modest in Atlanta, Georgia.

However, large cities may give you more options for a less expensive wedding. Small towns may have only one vendor for a wedding gown and one photographer. Be aware that you may incur additional expenses for travel time — either because you have to drive to a bigger city to find what you want or because you choose more distant vendors to come to you.