Budgeting for your Wedding
Holy smokes! Weddings can be so expensive! Want to know how to cut some corners and save some dough?
Let’s get into how much they cost and how you can get that cost down!
From 2015-2019, this was the average cost of a wedding.
According to The Knot, this is the average cost of each piece of a wedding in the 2020 excluding the honeymoon.
A lot of people don’t even know where to start when creating a wedding budget and can’t afford to pay this outrageous amount. There are definitely great ways to cut down those costs and create a budget that works for you!
The best place to start is with these next 6 steps:
Figure out who is contributing to your special day! For instance, are your parents or your partners parents planning on contributing? Maybe a grandparent? Figure out how much each person can contribute so that you can move on to the next steps!
Find out how much you can personally contribute! Speak with your partner and look over your finances. How much can the two of you contribute toward your wedding day?
Estimate a guest count! Your guest count is important for budgeting because the higher your guest count, the higher the cost of everything including food, beverages, centerpieces, etc.
Choose your non-negotiables. You and your partner need to figure out what the musts of your wedding are and what you can live without. This will help you in step #5.
Do your research to figure out costs. After you discuss what you want and don’t want at your wedding, then you can do your research to find out how much your musts will cost. This is important so that you can figure out an accurate budget.
Do the math and make sure the numbers add up! After you’ve done your research, add it all up and see if everything you’ve included fits within the amount that you are able to afford. Readjust if needed until it all fits!
Budgeting for a wedding can be tedious, however if you are tight on money, it is an extremely important step! Be sure to remain accurate and use an excel spreadsheet so you can ensure that all math is correct.
Side note: GET ALL QUOTES AND GUIDELINES IN WRITING FOR EACH VENDOR! This will ensure that they do not change the amount later on. Stay smart!
Here are some other wedding planning budgeting tips to consider:
Having your ceremony & reception in the same place cuts costs of transportation to zero and often times you will get a discount on your ceremony costs! Guests also usually appreciate that they don’t have to drive to multiple places!
Opt for a Friday or Sunday wedding instead of Saturday. Almost all venues have higher rates on Saturdays because they are in popular demand. Your guests will party just as hard on a Friday or Sunday!
Use Pinterest and get your DIY on! DIY or do it yourself is a great way to save money on decorations! Purchasing materials and creating something instead of purchasing a finished product is cheaper 98% of the time! Put on your project clothes and be ready to get your hands dirty!
Serve a signature cocktail instead of having an open bar. This means that you will serve one special drink to your guests on your dime and if they want anything else, then they pay for it. This will cut your bar costs tremendously!
If allowed, provide your own alcohol. Venues mark up their alcohol costs because they have to purchase it from a wholesaler and then they have to mark it up to actually make money on it. Ask your venue if they will allow you to bring you me own alcohol. It doesn’t hurt to ask and it can save you sooo much money!
If you want the look of a full cake but can’t afford it then just ask your baker to make the bottom few tiers a faux cake. It will not be edible but will still give you that gorgeous wedding cake look!
Definitely consider a buffet meal! Buffets are generally cheaper and offer your guests more options! Guests can also generally go back for more if they’d like and you might as well get the most out of what you are paying for!
Buy a pre-owned wedding dress! Many people buy their dresses to wear them for only one day. Why not wear a beautiful pre-owned dress? Then you can also get some details on the dress too if you purchase directly from the previous owner.
Create wedding signage instead of printing hundreds of sheets of paper. Instead of making a menu for each seat, make one large sign letting your guests know what the menu is. This is just one example.
A lot of the times buying can be cheaper than renting! Do your research and find out what is worth buying and what is not. If you purchase a lot of decor, you can turn around and sell it for cost or sometimes even a profit!
If you can’t afford the all extravagant bouquets, ask your florist to use some of the big, gorgeous flowers and use other cheap filler flowers to make it look full! The bouquet will still be beautiful but will cost a lot less.
Find a venue that is flexible with vendors. Some venues require you to use their preferred vendors and that means you are automatically locked into their pricing. It is best to find a venue that will let you bring in any vendors that way you can choose how much you want to pay.
Don’t be afraid to call in the troops to help with your wedding! Your family, bridesmaids, friends, etc. will all be happy to help if you just ask. Bring them in to help with making decorations, help with making decisions and to help decorate the day of! Don’t try to do everything yourself!
These wedding planning budgeting tips are guaranteed to save you some money! You can use that extra money for your honeymoon, towards a house down payment, or even for your future babies!!!
Thursday: Teamwork Makes the Dream Work
Monday: The Importance of Emergency Kits