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In this video, Jacob introduces his custom wedding budget template generator, which is available as a free downloadable resource in the description box. The template is designed to help users create an optimized wedding budget breakdown, ensuring they allocate funds appropriately for each vendor. To use the template, users need to input their total remaining budget in cell E7 and rank their spending priorities on a scale from zero to five, with zero indicating no intent to spend and five indicating above-average spending. This process assists users in assessing their specific needs for their wedding budget effectively.