Setting a Realistic Wedding Budget You Can Stick To
If just hearing the word “budget” makes you cringe, then setting a realistic budget early will ensure this doesn’t become a major sticking point between you and your partner. Keeping things simple will help in making sure you stick to that budget. Even if you are fortunate enough to have help from others in paying for your wedding, setting a budget that is realistic will reduce the stress of the planning.
Priorities
First, determine your priorities. Decide which details of the wedding are most important to you and which ones are most important to your partner. This will help determine where to allocate the funds to ensure the most important things are covered.
Research
Research the costs in the area where the ceremony will be held. Not all costs are the same in every area. My daughter saved a significant amount on catering by having their wedding outside of a major metropolitan area. Having a general idea of how much some of the major expenses might cost will help in getting that initial budget created.
Budget Breakdown
Start with a simple breakdown of items. Realistically set the total amount you are willing to spend on your day. For example, let’s say you have decided to spend $20,000. Here is how you can break that down into buckets and adjust once you start your research:
- Venue – $6,000
- Catering – $6,000
- Photography – $2,800
- Flowers/Decor – $2,400
- Attire – $2,000
- Miscellaneous – $800
I have purposely kept the “miscellaneous” bucket small. If you have too large of a budget for random items, you’ll spend it.
Realistic
Be realistic about what you can afford. If having your ceremony at a specific location is very important to you and your partner, then moving the date out so you can save up for it might be an option. If you have a limited budget, then be prepared to compromise on some items. Remember, this is about committing your life to your partner and no one will notice if there is not a swan ice sculpture.
Keep Track
Write things down or log expenses in a spreadsheet. This will be especially helpful if you are making payments for something. Some of the major expenses might want a deposit upfront and then payments periodically until the big day. It will also help to keep you on track with your budget. If you have already spent your decor budget, then don’t buy that extra item to sit next to the guest book. No one will ever miss it and what would you do with it afterwards anyway?
Surprises
I suggest keeping that miscellaneous bucket small but that doesn’t mean unexpected expenses won’t come up. Some things you just can’t ignore but scrutinize them to determine if they are really necessary.
Adjust and Be Flexible
As you start to plan your wedding, gather quotes, and buy items, don’t be afraid to adjust your budget. You might find a great deal on table decor or a dress on the clearance rack that fits perfectly. This might free up some cash to spend elsewhere OR save it for your honeymoon or a first-anniversary trip.
Is It Too Good To Be True?
Finding table centerpieces on a Facebook group for $1 each is something you probably shouldn’t pass up but what about that photographer that is just starting out and gives you ½ off their fee? (I have a horror story about this. Stay tuned for that post!). Or what about having cousin Jenny make all the flowers since she loves to garden? While these might very turn out just fine, make sure you ask yourself these questions:
- Can you trust them to be on time? (yes, another story here)
- Do they even want to? Just because Aunt Ginny said cousin Jeff would do it, doesn’t mean they want to.
- Will they do it in your style?
If you are afraid of hurting someone’s feelings by not asking them, then talk with them about it and explain to them you would rather they just be a guest and enjoy the day, rather than have to work that day.
Money matters is not always a fun topic but open and honest communication will help in making sure things don’t spiral out of control and start out your married life in debt. Even with a very small budget, your day can be beautiful and memorable.
Remember, less is more
~ Melissa
