Congratulations!!!!!! You’re ENGAGED and GETTING MARRIED!!! What a crazy ride you’re about to embark on! With all the thoughts flying through your head, you’re realize how much there really is that you have to do!
Your first wedding planning to-do? Setting your (realistic) wedding budget. This will also help you with your overall planning checklist. From the dress to the reception, here’s how to plan your wedding budget and stick to it.
Scroll down to the bottom to see and save the picture of the spreadsheet.
2. Figure out Who’s Paying & How Much. Depending on your family situation, this conversation can be a little awkward unless you’ve always known who’s footing the bill. Traditionally the bride’s family is the one to pay for the extravaganza, but anymore, the groom’s parents pitch in some too. This is completely up to you on how to go about it, but this is an important piece of the puzzle to truly know how much you’re working with. Some families choose to have each set of parents give a lump sum or finance a particular aspect of the wedding (such as the ceremony, honeymoon, or catering) instead of just committing to a dollar amount. From there, decide how much you two can contribute between now and the wedding. (37 % of the couples we polled say they’re planning to contribute financially to their wedding.)
3. NEED vs. WANT. Figuring out what you actually NEED for your special day is crucial. It’s all the little details that add up really fast. Think of it as buying a new car – you should figure out how much you need to spend to get what you want and set your expectations accordingly. The average cost for a 150-person wedding is about $25,000 (higher in urban areas). Here is a basic breakdown of what you can expect to pay:
- Reception: 48%-50%
- Ceremony: 2%-3%
- Attire: 8%-10%
- Flowers: 8%-10%
- Entertainment/Music: 8%-10%
- Photography/Videography: 10%-12%
- Stationery: 2%-3%
- Wedding Rings: 2%-3%
- Parking/Transportation: 2%-3%
- Gifts: 2%-3%
- Miscellaneous: 8%
- To avoid stress, allot about 5% of your budget for a “just-in-case” fund.
- If you’re paying for your honeymoon yourselves, remember to budget for that as well.
- Rent a movie instead of going out.
- Buy/make your own cup of joe instead of going to Starbucks.
- Make dinner with your love instead of going out to eat.
- Head to the thrift store to get some goods instead of large department stores.
These changes will hardly affect your quality of life, but after a year, the extra cash will add up and can cover some wedding essentials.
All in all, there are several ways to cut, or go all out in your spending on your wedding. The bottom line: This is YOUR day. And hopefully your only wedding. Make it what you want it to be and DON’T do things just because you care what everyone else thinks! Hope this helps! Happy Planning!!