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In days gone by, the Bride's parents paid for the wedding but these days there are no hard and fast rules to follow.
The Groom's family may share some of the costs or the Bride and Groom themselves may pay for part or all of the expenses.
You will need to determine what will work best for you, in your particular situation.
What follows is a guide for how responsibilities tend to be divided when both families are sharing the costs.

The Bride's Family are responsible for:

Announcing the engagement.
The engagement party.
The Bridal gown.
All Bridal accessories.
All transportation for the ceremony and reception.
Music and entertainment for the ceremony and reception.
All decorations for the ceremony and reception.
All flowers for the ceremony and reception.
Bouquets for the Bridesmaids.
The Groom's wedding ring.
All reception venue costs, including food and beverages.
The Groom's wedding gift.
Gifts for the Bridesmaids.
Photographs and video.
All stationery and printing costs.
The wedding cake.

The Groom's Family are responsible for:

The rehearsal dinner.
The Bride's wedding ring.
The Groom's outfit.
The Bridal bouquet.
Corsages for the Mothers and Grandmothers.
Boutonnieres for the Groomsmen.
Celebrant/Clergyman's fee.
The Bride's wedding gift.
Gifts for the Groomsmen.
The wedding night accommodation.
The honeymoon.