First comes the engagement, and then comes the . . . wedding budget? It might be the least glamorous aspect of wedding planning, but establishing—and sticking to—a budget is one of the best gifts you can give yourself as a couple. As of 2014, the average wedding cost was more than $30,000, but for many people—particularly in big cities—that number might just barely cover the cost of catering.
So how much should you spend on your nuptials? And how much of that should be dedicated to food, flowers, the venue, and the myriad other expenses that pop up? While there is no one-size-fits-all budget, there are some helpful guidelines and common pitfalls to avoid. Here, a primer:
Set your budget.
Start by deciding who will be paying for the wedding. The old tradition that the bride’s parents should cover the whole bill is no longer nuptial canon. Both families often chip in, and the bride and groom will often help as well. Ask all parties involved how much they are able to contribute and you’ll get your bottom line.
Avoid the common pitfall of falling in love with a pricey venue, dream backless evening dresses, and over-the-top cake before you talk numbers. Start with a budget and then begin exploring vendors within your price range, not the other way around. Though if you’re finding that your budget and your wedding plans are completely misaligned—your parents insist they must invite dozens of their friends but are only willing to contribute a small amount, for example—it’s time to discuss the reality of how far that money will go and either adjust the budget or the expectations accordingly. But never break the cardinal rule: Don’t break the bank. A lavish wedding is lovely, but even lovelier is starting married life with a healthy savings account.
Categorize your budget.
Now that you know what you’re working with, it’s time to take a macro look at how that translates to each part of your wedding. While there are no hard-and-fast rules about how much you should spend on each category, there are some loose guidelines that can help you from veering off track. You probably don’t want to allocate half your budget to the band, for example—unless you’re okay with delivery pizza for dinner.
Even the little things seriously add up—which is one reason it’s wise to keep a “miscellaneous” fund that’s around 5 percent of the overall budget. Here are a few common items that brides might not consider ahead of time: beauty treatments, bachelorette party, marriage license, night-before hotel room, welcome bags, vendor meals (yes, you have to feed your waiters, your planner, et cetera), and overtime costs.
Tips are one big often-forgotten expense to factor in up front in each category. While many gratuities are built into vendor contracts, some are not. Pay attention and be prepared to tip everyone from the musicians ($15 to $20 per person) to the
hairstylists (15 to 25 percent).
At this point, you may decide that there are some things that you want to stretch your budget for—that amazing DJ your friends hired, or a top-notch videographer. Or your parents might find that they can’t bear a wedding without an open bar for the entire event and are willing to foot the extra bill. Just don’t forget that small additions add up quickly.
Stay organized.
Do yourself a favor and immediately create a Google doc spreadsheet to keep track of your budget. Start by breaking down your estimated costs for each category to provide a template as you’re contacting vendors. Each time you sign a contract or send a payment, record the actual cost so you always know how close you are to your bottom line. Share the doc with your fiancé and consider sharing it with family members who are helping to pay for the wedding if that will help streamline the process for you.
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