How to Budget Your Singapore Wedding with Angbao Contributions
One unique aspect of weddings in Singapore is the tradition of angbao (red packet) contributions from guests, which can significantly offset wedding costs.
Here's how to effectively budget your Singapore wedding with the help of angbao contributions.
1. Understand the Tradition of Angbao
Angbao contributions are a cultural norm in Singapore, where guests give monetary gifts to the couple. These contributions can help cover the costs of the wedding and even provide some financial cushion for the newlyweds. Here are some of the guidance of how much family members vs friends vs coworkers typically give.
2. Estimate Your Angbao Contributions
Having an estimate of potential angbao contributions can help you plan your budget more accurately.
Remember that even though the angbaos will help to offset your overall cost, you'll only receive them AFTER the wedding. You still need sufficient financial liquidity to pay for all expenses upfront before the wedding.
- Guest List Analysis: Categorize your guests into groups (immediate family, close friends, colleagues) to estimate average contributions from each group.
- Venue Influence: Adjust your estimates based on the venue, as guests often give more for high-end venues.
Example Estimate:
- Immediate Family: $300-$500 per person
- Close Friends: $200-$300 per person
- Colleagues/Acquaintances: $100-$200 per person
3. Set a Realistic Budget
- Venue and Catering: Allocate a significant portion of your budget to the venue and catering, as these are usually the largest expenses.
- Attire and Décor: Budget for your wedding attire, floral arrangements, and venue decorations.
- Miscellaneous Costs: Include costs for photography, entertainment, and other services.
Sample Budget Breakdown:
- Venue and Catering: 50%
- Attire: 10%
- Décor and Flowers: 10%
- Photography/Videography: 10%
- Entertainment: 5%
- Miscellaneous: 15%
4. Consider a Buffer for Unexpected Costs
Unexpected expenses can arise, and having a buffer helps you manage these without stress.
- Allocate Extra Funds: Set aside 10-15% of your total budget as a buffer for unforeseen costs.
- Emergency Fund: Maintain a small emergency fund to handle last-minute expenses.
5. Plan Your Angbao Collection on the Day of the Wedding
- Angbao Box: Designate a secure angbao box for guests to drop their red packets.
- Trusted Person: Assign a trusted family member or friend to manage and secure the angbao box during the wedding.
- Some guests prefer to give the angbao directly to either of your parents. Give your parents clear instructions on what to do with them, e.g. drop off in the angbao box after the wedding.
6. Post-Wedding Financial Management
Properly managing your finances after the wedding ensures you start your married life on a solid footing.
- Count and Record: After the wedding, count and record all angbao contributions.
- Cover Costs: Use the contributions to pay off any remaining wedding expenses.
- Save or Invest: Consider saving or investing any leftover funds to support your future financial goals.
Bridely.sg is Singapore’s only wedding review site and the largest wedding venue and vendor directory. You can read reviews written by graduated couples and their guests!
