Saying "I Do" Without Breaking the Bank: Your Ultimate Wedding Budget Planner

Planning a wedding is an exciting whirlwind of dress fittings, cake tastings, and venue tours. But amidst the joy, it's easy to get carried away and overspend. That's where a solid budget comes in. A budget can help guide you and reel you back in when you start to go overboard and include unnecessary add-ons. This blog post will guide you through creating a realistic wedding budget, helping you stay on track and start your married life on a financially sound footing.

1. Determine Your Total Budget:

The first step is figuring out how much you can realistically spend. Decide what you want your max spend to be and work backwards from there. Consider:

• Savings: How much have you and your partner saved specifically for the wedding? Do you want to spend that much on the wedding still? Would you prefer to spend that savings elsewhere?

• Family Contributions: Will family members be contributing financially? If so, get clear on the amounts. Sit down and have a conversation about exact numbers, so you can begin to budget and understand your limits.

• Monthly Income & Expenses: Evaluate your current income and expenses to determine how much you can comfortably allocate to wedding expenses each month. You wouldn't want to spend your entire paycheck on your wedding, when you need it for things like groceries and rent.

Once you have a total budget in mind, it's time to break it down.

2. Allocate Budget Percentages:

A common guideline is to allocate your budget based on percentages for different categories. Here's a general breakdown:

• Venue (30-40%): This includes rental fees, catering, and sometimes rentals like tables and chairs. This will probably be the most of your budget, depending on what type of venue you choose. If you choose something like a restaurant, the fee to utilize the space will be less about usage of the space and more about food and drink spend.

• Photography/Videography (10-15%): Capturing your special day is an investment, so allocate accordingly. This can be very expensive. It's up to you whether you want one or both options. I would personally choose photos over videos and have friends make sure to capture candid videos on their phones throughout the night.

• Attire (10-15%): This includes the wedding dress, suit, alterations, shoes, and accessories. This price can go up and down dependent on where you get your dress (vintage vs. designer) and on if you have second looks.

• Flowers (8-10%): Bouquets, centerpieces, ceremony décor – these costs can add up more than you expect. To keep costs down maybe think of DIYing flowers and do bud vases.

• Entertainment (8-10%): DJ, band, or other forms of entertainment for the reception. A band will cost more while a DJ might be more cost effective.

• Stationery (2-3%): Invitations, save-the-dates, thank you notes, and other printed materials. You can try to save money here by utilizing online options like e-vite and paperless post.

• Cake (2-3%): The wedding cake or other dessert options. You can try to save here by getting a sheetcake from Costco or a small cake from the grocery store just for pictures.

• Transportation (2-3%): Limousine, shuttle service, or other transportation for the wedding party and guests. If you can't afford this, you could also offer up an Uber code for people to utilize.

• Hair and Makeup (2-3%): Professional hair and makeup services for the bride and possibly the bridal party.

• Wedding Planner (Optional) (10-15%): If you hire a planner, factor in their fees. You can utilize a planner for anything from full service planning to just day of coordination. Depending on which package you choose, price will vary.

• Contingency Fund (5-10%): It's crucial to have a buffer for unexpected expenses. You never know when you under or over estimated on prices. Make sure to have a small pot tucked away for just in case emergencies.

  
  

Important Note: These percentages are just guidelines. You can adjust them based on your priorities. For example, if photography is extremely important to you, you might allocate a higher percentage to that category and a lower percentage to something else, like flowers .

3. Create a Spreadsheet or Use a Budgeting Tool:

A spreadsheet (like Google Sheets or Excel) or a dedicated wedding planning app is essential for tracking your spending. Create columns for:

• Category: (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: The name of the company or individual providing the service.

• Payment Due Dates: Keep track of when payments are due.

  
  

Regularly update your spreadsheet to monitor your spending and stay within budget. If you have a planner, they can help you stay on top of spend and updating the spreadsheet. They typically have a template of their own that you can utilize.

4. Tips for Saving Money:

• Consider an Off-Season or Weekday Wedding: Venues and vendors often offer lower rates during these times. This might look like a Monday-Thursday wedding or a winter wedding.

• Prioritize What Matters Most: Focus your spending on the elements that are most important to you as a couple.

• DIY Where Possible: Consider DIY projects for things like invitations, centerpieces, or favors. This will help a lot in cutting down the overall cost. Ask family and friends to pitch in and they will be happy to help.

• Shop Around and Compare Prices: Get quotes from multiple vendors before making a decision. There might be some that fit better into your budget than others, and that's okay!

• Trim the Guest List: A smaller guest list can significantly reduce costs related to catering, venue, and stationery. Make an A and B list and consider who you want to invite based off this. I have a pretty cool scaling system my clients utilize - reach out if you're interested.

  
  

5. Regularly Review and Adjust:

Your budget isn't set in stone. Regularly review your spending and make adjustments as needed. If you find you're overspending in one area, look for ways to cut back in another. The only thing set in stone is things you sign contracts for, so be extra picky with your vendor choosing!

Planning a wedding should be a fun experience, not a source of financial or emotional stress (although sometimes, it really just is). By creating and sticking to a budget, you can ensure that your special day is everything you've dreamed of without starting your married life in debt. If you need help planning or budgeting, reach out to the experts at Ali-Pop Events and we can help you plan your dream wedding within your budget!