4 tips for budgeting your wedding!
Nobody wants to talk about how much money they have or don’t have for planning their wedding. It’s like nails on a chalkboard for many, and thinking about a good down pour on their parade is heartbreaking. Let’s face it, not many people are gazillionaires and the best way to mitigate a broken heart, is a well constructed budget.
FUNDS
You need to communicate who’s paying for what. Are the brides parents funding the entire wedding? Are the grooms parents coming out of pocket for the rehearsal dinner, plus the reception bar tab? Is the entire bill riding on the shoulders of the bride and groom, solely? Understanding where the money is coming from and how much you are spending is priority number one.
Guests
Knowing the total number guests that may attend helps with determining what to spend. If you take the max number of your budget and divide it by your guest count, you come up with an amount per guest. You’re probably thinking, why do I need to know how to spend per guest? Well, having a value based on guests will determine food and beverage costs. Whether or not you want to have a 5 course meal or packed lunches. The total value based on “price per head” gives you an idea on where the funds can go.
SPREADSHEET
Having a spreadsheet for allocating where the funds can be distributed is extremely helpful. Writing out your total number value, then determining where they go simplifies the process. Don’t just trust your brain to house all of the figures, document them. If you have a total amount willing to be spent but don’t have the complete dollar amount, this is where the spreadsheet thrives. It allows you to visualize what can be purchased now and what can be purchased at a later date.
PERCENTAGES
Venue and Catering: 45 percent of your budget.
Photography and Videography: 20 percent of your budget.
Wedding Attire and Beauty: 5 percent of your budget.
Music/Entertainment: 15 percent of your budget.
Flowers: 10 percent of your budget.
Favors and Gifts: 5 percent of your budget.
Be advised, this is only an estimate, but it has a tendency to be around the industry norm. These items may all apply to you, or only a few. If you decide not to apply a percentage to a specific item, it gives you free range to apply it elsewhere. Just remember, this is an estimate, not a manual.