Whether big or small, wedding budgets are a hot topic among couples during the wedding planning process. Managing your wedding budget isn’t the most fun you’ll have while planning your wedding, but here’s some guidance to help you stay on budget!
1. Figure out who’s paying for what! Although couples are footing more of the wedding bill today than they were in the past, your family may want to gift you with a portion of the wedding, so while creating your budget, highlight areas of the budget that you may need assistance. If your parents want to contribute a larger portion of the wedding, discuss what areas you will focus on.
2. Research the average costs of weddings in your area and budget appropriately.
The average wedding cost in the US is around $30,000, however, weddings hosted in major cities can cost up to $40,000 (or more depending on the number of guests), so budget accordingly. Generally speaking, most weddings will have the following budget inclusions:
Venue Fees
Wedding Planner
Photography
Caterer
Florals and Décor
Videgraphy
Rentals (chairs, linens, décor items, etc.)
DJ/Band
Transportation
Hair and Makeup
Wedding Attire
Stationery
Cake and Desserts
Marriage License
3. Keep track of everything!
Knowing what you’re spending allows you to manage your budget more efficiently. Maintaining a spreadsheet with all of the wedding expenses help you to keep track of what you have spent and how much you have left. Both WeddingWire and The Knot have budget trackers, but no matter the method in which you track your budget, ensure you update it often. Noting when vendor payments are due also prevents you from missing a payment.
4. DIY with caution!
The surge of DIY couples popped up a few years ago and while we love a good DIY project, taking on an aspect of your wedding doesn’t always translate to saving money. Before taking on a DIY project, consider the time that it will require, how much the materials are and the skill that the project requires. If you’re crafty, you may want to DIY a few items for your reception décor, but your wedding isn’t a time to explore a new hobby (like arranging all of your floral centerpieces) that you know nothing about. If you decide to DIY an aspect of the wedding and it’s not going well, seek the help of professionals and know when to say, “I give up!"
(In May 2015, we had the pleasure of being the Month-of-Coordinator for our good friend-or @Creations_by_Sasha. Sasha was able to use her creative spirit & expertise to DIY many aspects of her wedding. Sasha's wedding went off without a hitch because she always knew when to rely on vendors to pull off her complete vision! Photo Credit: @cynthiasphoto)
5. Revisit the budget often and update accordingly.
As you begin to secure vendors and have a more accurate understanding of your wedding budget, you may discover that some of your predictions were a little off. Update the budget accordingly and figure out if there’s an area that you can adjust to accommodate the overage. Many couples note that they went over their budget more when they didn’t have an accurate understanding of how much they were spending. It’s also okay to be under budget in areas of the budget, so they can offset a potential overage.
Tracking your wedding budget will help to maintain sanity while wedding planning and will allow you to afford a honeymoon after the wedding to celebrate your union!