From "Will You?" to "We Did It!": Crafting a Proposal Day Budget

Popping the question is a monumental moment, and while the focus should be on love and commitment, let's be real – it involves some financial planning too. Whether you're envisioning a grand gesture or a more intimate setting, setting a proposal day budget is an important first step. This post will guide you through creating a realistic budget for this special occasion and help guide you so you know where to start.

1. Determine Your Overall Budget:

Before diving into the specifics, establish a total spending limit. The average person in the U.S. spends between $5,500 to $10,000 on their proposal, which often includes the ring. Consider:

• Savings: How much have you saved specifically for the proposal? What is the most you'd consider spending and taking from your savings?

• Current Expenses: Factor in your regular living expenses to ensure you're not overstretching yourself. There used to be a myth that the ring should cost three months of your salary. With how much groceries cost these days... that might not be plausible and that's okay!

• Long-Term Financial Goals: Consider your other financial priorities, like saving for a house or future wedding. Do you want to spend all that money on the ring and proposal? Or would you like to save for those other big life events too? Consider any help you might be getting for those other events as well, because you might be able to spend more on the proposal if you have family paying for the wedding.

Once you have a total budget, you can allocate it to different categories.

2. Breakdown the Budget Categories:

Here's a breakdown of common proposal expenses:

• Ring (50-75%): The engagement ring is often the most significant and important expense. Research different styles, metals, and stones to find the perfect ring within your budget. Consider lab-grown diamonds as a cost-effective alternative.

  • Make sure to get a good idea of what you partner is looking for. Ask a family or friend about this OR straight up ask your partner. They will be wearing this jewelry for the rest of your lives, so ideally it is their dream piece of jewelry.

• Proposal Planner (0-15%): A proposal planner can help with everything from brainstorming ideas to coordinating vendors and logistics. This can be especially helpful if you have a busy schedule or want to create a truly elaborate proposal. It is not absolutely necessary, but can be helpful to let you focus on your partner and your nerves, while someone else takes care of the small details.

• Venue/Location (0-15%): This depends on your chosen setting. A public park is free, while a private venue or restaurant reservation might cost you a little bit. This will proably be the least of your budget, unless you have a proposal party.

• Photography/Videography (0-10%): Hiring a professional to capture the moment is a great way to preserve the memory. This is optional but highly recommended! If you don't have it in your budget to hire a photographer, consider making sure a friend or family member is around to capture the moment.

• Decorations/Props (0-5%): This includes flowers, candles, balloons, or other decorative elements. Again, this is not necessary, especially if you're proposing at a beautiful location, but it could help elevate the moment and the photos a little bit.

• Food and Drinks (0-5%): If you're planning a post-proposal celebration, factor in the cost of food and drinks. This cost will be dependent on how many people you invite and where the event is held.

• Experiences/Activities (0-10%): This could include a special activity like a hot air balloon ride, a concert, or a weekend getaway. For example, you might want to propose while on vacation OR you might want to take a trip after to celebrate being newly engaged.

• Contingency Fund (0-5%): It's always wise to have a buffer for unexpected expenses and for your proposal is no different. Consider having a little bit tucked away for a few extra flowers or an extra drink at dinner.

  
  

Important Note: These percentages are just guidelines. You can adjust them based on your priorities. If you're prioritizing a stunning ring, you might allocate a higher percentage to that category and a lower percentage to other areas.

3. Track Your Spending:

Use a spreadsheet or a budgeting app to keep track of your expenses. Create columns for:

• Category: (Ring, Venue, Photography, etc.)

• Estimated Cost: Your initial budget for each category.

• Actual Cost: The actual amount you spend.

• Difference: The variance between the estimated and actual cost.

• Vendor/Supplier: The name of the company or individual providing the service or product.

  
  

4. Tips for Staying Within Budget:

• Set a Realistic Budget: Don't overspend to impress. Focus on creating a meaningful experience, not a lavish production. At the end of the day, you want to ensure you're stepping into a future together happy, but also financially secure.

• Consider Alternatives to Traditional Diamonds: Lab-grown diamonds, moissanite, or other gemstones can be beautiful and more affordable options. Make sure to discuss this with your partner first before you go this route!

• Choose a Free or Low-Cost Location: Public parks, beaches, or even your own home can be romantic settings without breaking the bank. You can have a proposal planner or friend show up onsite earlier to set the scene and vibe (i.e. blanket, flowers, candles).

• DIY Where Possible: Consider DIY decorations or enlist the help of friends and family (or a proposal planner, like me!)

• Prioritize What Matters Most: Focus your spending on the elements that are most important to you and your partner. If your partner doesn't care about a proposal party, then don't plan one. If they don't want a large stone, don't get one. Just make sure you keep sight of what matters most - this new exciting chapter with the person you love most.

  
  

5. Remember the True Meaning:

While the budget is important, remember that the proposal is about expressing your love and commitment. Focus on creating a genuine and heartfelt moment that you and your partner will cherish forever.

By planning a thoughtful proposal day budget, you can create a magical experience without putting unnecessary financial strain on your future together. This sets a positive tone for your engagement and future married life. Best of luck and if you need any help, be sure to reach out to Ali-Pop Events and let us help you plan the proposal or you and your partners dreams.