Wedding Wednesday - Guest List

This is the hardest part I think about planning the wedding; who gets invited? I have a big family on my dad's side alone I have 16 cousins and they are adults, so you have their plus ones. Alone that is 32 people. Now I want a small wedding, But I found out the hard way that we will probably have close to 100 people at to our wedding. We invited all our family and a few friends. We talked it over and our biggest worry was cost with this many people. We decided that we want to have people that are important to us at the wedding and will figure out the cost later. 

After talking to both mothers, we came up with 88 people to be invited to the wedding. I can't wait for our wedding. How did you come up with your guest list?  Did you feel like you had to cut several people?