Making (and sticking to) a wedding budget isn’t easy. Both those little details and big expenses add up… fast! So before you get carried away in a whirlwind of dress fittings, cake tastings and prosecco, it’s important to sit down and plan how much you want to spend and on what. Not sure where to start? Follow our step-by-step guide on how to make a wedding budget.
1. Count Your Cash
First thing’s first, how much money do you have to work with? Rather than just pluck a number from the sky, it’s time to tally up some realistic figures. In most cases, the funds will come from three possible sources:
- What you and your fiancé are prepared to pull from any savings.
- What you can both save from your income, from now until your wedding date.
- Any contributions from your loved ones.
No matter how much you could spend, you have to be happy with that choice too. The last thing you want is any anxiety or resentment over costs. So just because you have a healthy savings account, it doesn’t mean you have to blow it all on your wedding. Nor do you have to live off cereal for the next eighteen months to save every single cent! So only part with what you’re both comfortable with.
If you know that family members would like to chip in, it’s best to have the money conversation early on, that way you’ll know exactly how much they can offer, if they want to pay for a particular item in the wedding, or if there are any caveats to their contribution.
2. Estimate Your Guest List
The next step is to figure out how many people you need to invite, feed, and fit in your venue! Your headcount will not only influence the size (and cost) of your reception space, but also your food and drinks bill. Thinking about your wedding on a ‘per-person’ basis from the beginning will help you factor in expenses for all those other items too – including invitations, tables, chairs, pieces of cake, and favors. It will become pretty clear at this stage that the easiest way to save money on your wedding is to reduce the guest list!
3. Prioritize What’s Important to You
You and your partner probably have a couple items that you really want for your wedding day. Perhaps he’s a foodie and dreams of a gourmet menu, or you’re known for your fashion sense and need a knock-out dress. If you pick one or two non-negotiable elements each, you can allocate more money to them and cut back in other areas. It’s also worth writing down the things that don’t matter to you at all. This list will come in handy when you’re picking bows for chairs and need a reality check!
Here is a typical wedding budget breakdown, but you can tailor this to your priorities. Above all, try to spend the money on the aspects that you’ll enjoy and remember!
- Reception (venue + food and drink): 48%–50%
- Ceremony: 2%–3%
- Outfits: 8%–10%
- Flowers: 8%–10%
- Entertainment: 8%–10%
- Photography: 10%–12%
- Stationery: 2%–3% (There are tons of options when it comes to your wedding stationery! We love this article from Joy that goes into detail about the different types of papers, printing types and styles)
- Wedding Rings: 2%–3%
- Transportation: 2%–3%
- Gifts: 2%–3%
- Miscellaneous: 8%
4. Prepare for Potential Surprises
Next look up ballpark figures for venues and suppliers in your chosen wedding location and season. Quotes can vary greatly according to where you’re getting married, the month, and day of the week.
To avoid any shocking expenses, also research the things that couples often forget – like corkage, cake-cutting fees, alterations, postage, taxes, and tips! There’s still bound to be something unexpected, so it’s wise to put aside at least an extra 10% as an ‘emergency fund.’ A smart way to do this is to reduce your initial budget at the very beginning of planning. For example, if you have $20,000, pretend you only have $18,000. Then if you’re hit with a last-minute bill, you have it covered. If not, the extra cash can go into the honeymoon fund!
5. Track Everything!
Now it’s time to put all of these figures into a spreadsheet! We know a Google doc seems a bit too much like work, but it’s essential to keep track of your spending. Start by adding all your elements to column one, with a row for every item. Then have three additional columns for Estimated, Modified, and Actual costs. Update initial estimates with modified prices once you have quotes from vendors, then add the actual price when you pay the final bills. If you keep your tracker up to date, you can stay on top of expenses and adjust accordingly before anything gets out of control!
Whether you have $5,000 or $50,000 to play with, these steps should show you how to budget for a wedding! Put the time in at the start and you’ll avoid any unnecessary stress, arguments, and debts. Then once you’ve done the sums, you can move on to the fun stuff!
Matilda is Marketing Manager in the International Team, bringing Zazzle to customers everywhere from Sydney to Stockholm.
