Wedding budget tips
Creating your wedding budget is an important step in the planning process, and can be one that’s a bit stressful. It’s also a step that should be completed early-on in your wedding planning. Here are some helpful tips to get you started!
Create room in your budget for hidden or unforeseen costs. This can include, but is not limited to, taxes, tips, hotel rooms, vendor meals, insurance, vendor trials, marriage license, bachelor and/or bachelorette parties, decor, undergarments, jewelry/accessories, rehearsal dinner and/or welcome party, and more. Your budget should be the maximum you’re comfortable with spending, including these items.
Guest count matters. Point blank. The larger your wedding, the more expensive it could be. Take into consideration the following items that depend on your head count: additional rental items such as tables and chairs, decor, invitations, food and drinks, and venue size. Venue size and food/beverages will be the bulk of your wedding expenses, and both of these categories depend on your guest count. For example, plated meals can cost up to $100-$150 per guest. At the high end, a 100 person wedding could be $15,000 for food compared to a 250 person wedding that could be $37,500 for food alone. On the venue side, the larger the venue usually means the higher the cost. Make sure your guest list reflects your budget.
Pick the things you’re ok splurging on. Similarly, pick the things you can live without to either reallocate those funds or save them altogether. You might not want or need traditional vendors or items for your wedding, so consider this while putting together your budget and before you start booking vendors. A personal example: we chose to not have a videographer so we could spend a bit more on florals.
Allocate your funds ahead of time. Don’t pick a budget and hope that it all adds up at the end (speaking from personal experience here). Select your budget, then allocate how much of that budget should go towards each vendor/category. There are general breakdowns of what your wedding budget should look like in this blog to help get you started, but this should be very specific to you and your day. Remember, create space for unforeseen and hidden costs as mentioned in the second paragraph. The most important part to this step is sticking to what you decide on. It will be very easy to spend a little more here and a little more there, and then all of a sudden you’re over your budget by thousands of dollars. Stay diligent so money isn’t a stressor on or after your day!
Wedding Budget Allocation Guide
Venue, rental fees, food & alcohol: 40%
Photography and/or videography: 12%
Music & entertainment: 10%
Flowers & decor: 10%
Wedding attire & beauty: 9%
Stationary: 3%
Favors & gifts: 2%
Transportation: 2%
Wedding bands: 2%
Cake and/or desserts: 2%
Emergency/miscellaneous funds: 5%
source: Vogue Weddings