10 Reasons why I love being a Wedding Planner
March 29, 2020
How to figure out your wedding budget
Setting a wedding budget. Yes, we know that you’d rather skip this step and jump into floral choices and tastings, but setting (and sticking) to your budget is hands down the most important part of planning a wedding. If you’re working with $1000 or even $100,000, there are some general guidelines about what you need, want and what you can splurge on. Here are 6 easy steps.
Step One: Who is Contributing
Not everyone has this luxury. A lot of times it’s the bride and the groom that foot this bill and sometimes some other family members want to chip in (which is great). Whatever the case may be, determining who is contributing to your wedding is the first step in calculating the total budget. Also, figure out how much each person(s) are willing to spend. Sometimes family members are specific about what they would like to contribute. For example, mom and dad really want to buy you your dress. Although awkward, these conversations are completely necessary to have. Just ensure you approach it in a respectful and kind way. They are family, but not obligated. Besides, the worst they can say is “no”, and that’s ok.
Step Two: It’s Crunch Time
We now have who is contributing, so let’s talk about setting your budget. What are you contributing as a couple? First thing to consider is what is not only realistic, but also, what are you comfortable spending? In other words, what can you afford to spend given all of your life expenses. Another thing to consider, is your incomes. How much can you save between now and the wedding. Lastly, think about if you need to pull from your savings– if so, how much can you use from there without draining it. Now take that, and what family (or friends) are contributing and ta-da! You have a ballpark budget. Also some advice if you choose to have a long engagement to save what you need it really is ok!
Step Three: Your Guests
Well we need to invite people to celebrate with, and now that you have about what your budget is, now we can discuss about how many people are going to be invited to the wedding. The cost of your wedding is going to be largely based on your guest count. This is huge. Your guest count determines not only budget, but also determines food costs, drinks and also your venue size. To help figure out costs, remember that this is done per head. Your per head will tell you how many rentals you will may need, invitations (and other stationery), wedding favors and how many tiers your cake will have. Tackling the guest list seems to be the hardest part for each couple, but coming up with a system together on how to cut, to put your list together is definitely the way to go! Moving on to Step Four.
Step Four: Research
This is usually a fun step… well some of it. There are a lot of different parts of a wedding, and to be honest, most couples are not aware of the costs (both known and unknown) that come with all parts. I always say that most people (if not all) love to look at the flowers, but don’t want to dig in the dirt. What I mean by that is that it all looks pretty in the end, but there is a lot of work that goes into each vendors craft. Also, there are fees that are not as obvious like breakdown, set up and even a tip, that most couples don’t take into account. All I’m saying is ensure that you educate yourself on hidden costs so you have no unwanted surprises and stay on budget. So that didn’t sound like fun, but being able to research colors and design is. Just be sure that when you’re looking at pictures, search responsibly. Picture platforms are beautiful but be sure that you understand that this is still part of the researching costs.
Step Five: Needs and Wants
I’m sure you both have many ideas and I’m sure that you’ll both have different opinions about what you want to splurge on. Something that I always suggest is coming up with a list of things that you need, and things you really want. What goes at the top of each list–what’s priority? Once you decide what you want to prioritize on either list, with focus on the “need” list, then you’re ready to allot a bigger percentage on them. So then why prioritize the “want” list? That is the list we go to when that need list is satisfied and you either are under budget and have more money to spend or a contributor gets really generous. Keep in mind that your “want” list is also the ” what we’d like to have” list. Moving on!
Step Six: Break it Down
Ok, now it’s time to do the math. You’ve finished all five steps and now it’s time to be real. Does your budget match your ideal dream wedding? Once your ideal wedding and estimated budget come close together, create a google spread sheet. I love using Google Sheets. It allows you to share it with your fiancé and contributors. Start by assigning dollar amount to all parts of your wedding. Work together to help stay on budget!
Step Seven: Sort of
Lastly, it’s not really a step, but something that I think is so important for all couples to know. Please, please don’t go into debt paying for your wedding. We are in a time where Pinterest is HUGE and who doesn’t like stunning pictures?? Be smart about how you budget and come together to decide what is priority and what isn’t. Something you don’t want to do is start off your marriage on edge and in debt. That’s a no no. Here are some extra tips:
- Hire a wedding planner. The investment is absolutely worth it. We are pros in the wedding industry and will make the process stress-free a ton of fun and create an amazing wedding!
- Start saving almost immediately after you get engaged. Some couples create a joint savings specifically for their wedding.
- Come up with a specific dollar amount that each person needs to put into the account weekly/monthly, and create a chart to keep track.
In the end, a wedding is more of how everything is going to make you feel that day. So if you choose to do a backyard wedding with 20 of your closest family and friends, and it’s meaningful and beautiful, then that is all that matters.
Photo by Matt Granger
Happy spending… and saving!