Setting up your budget is one of the most important tasks for a couple starting to plan their wedding. Ironically, it is often the task that is put off the most, or worse yet, completely ignored. Perhaps it is because it seems to be so overwhelming or maybe it is because people don’t like looking at the numbers. Whatever reason, setting up your wedding budget should be one of your first tasks before anything else. It will give you a guideline of how much money you have to spend, and therefore, give you a realistic idea of what you can and cannot do.
It is critical that the budget is established before you commit to anything else. This means sitting down with everyone involved, be it just the two of you, or including both sets of your parents as well, and figure out how much money you are willing to spend on the wedding. Anyone who is contributing should be at this meeting, or at least have sent their information
ahead of time of what they are willing to contribute. If people are offering to pay for certain aspects, such as your dress, or the alcohol at the wedding, still make sure that they give you an actual number to work with. You don’t want to make any assumptions, only to find out their idea and your idea of dollar amounts don’t mesh. By the end of this meeting, you will have a better idea of what you can spend, which will guide you through the rest of the wedding planning process. Too many times, couples forget this critical step and end up deeply in debt when they come back from their honeymoon.
Your budget will let you know what is realistic when you start meeting with vendors. There is no point of looking at a photographer that starts at $5000 when your budget only allows you to spend $2000. Of course, there is some flex room. If you find an awesome deal on your dress, then that may allow you to spend a little more elsewhere, such as on your flowers or your DJ. The other way it can work is if there is something really important, even essential, such as having your reception at a specific venue, then you can allot money for that. But on the flip side, when you overspend in one area, it means cutting back elsewhere in order to make that happen. This is where a wedding planner can prove to be extremely useful, as they are usually masters in manipulating the budget, and can sometimes even save you money through relationships they have established with quality vendors in the area.
An average breakdown of wedding budget expenses is as follows:
- Food & Beverage 30%
- Flowers & Décor 15%
- Wedding Planning 10%
- Venue Rental 8%
- Extra Cushion 8%
- Dress & Accessories 6%
- Lighting & Sound 5%
- Tipping 5%
- Photo & Video 4%
- Cake 3%
- Printed Materials 2%
- Transportation 2%
- Hair & Makeup 2%
There are a number of factors that will affect your budget. For example, the number of guests you have for your wedding will really set the tone and narrow down what you can and cannot afford. If you have a smaller number of guests, you will most likely spend less on food and alcohol OR be able to spend more per person on food. Another item to consider is in relation to the size of your wedding party. The more attendants you have, the more you will have to spend on flowers (e.g. bouquets and boutonnieres) and gifts for each member of the wedding party. Many wedding planners have spreadsheets that allows you to break the budget down even more, including adjusting the budget to reflect the number of guests you plan on having as well as the number of attendants.
Your budget is critical to the success and enjoyment of your wedding. No one wants to get married with the knowledge that they are going hugely into debt hanging over their heads. Creating and sticking to your budget will keep you grounded and make your wedding something that you can relax and enjoy, knowing that you planned smartly.
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Cathy MacRae is a certified wedding and event planner, and owner of Creative Weddings and Occasions and Del Sol Destination Weddings. Located in Calgary, Alberta, Canada, she plans wedding for couples in and around the Calgary and Banff area. She is also a destination wedding and honeymoon travel specialist helping couples plan their weddings in paradise all around the world. For more information about planning your own wedding or for advice from Cathy, please contact her at info@creativeweddingsandoccasions.com.
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