Whether you want a grand fairytale wedding, a simple low-key celebration or something in between, you’re going to need money to tie the knot. While only a few essential elements are legally required for you to marry, you probably want to infuse some style into your nuptials and provide good hospitality for your friends and family. If you’re not sure where to start with crafting your wedding budget, take heart. Getting started may be the hardest part, but you’ll have a workable financial plan for your event when you’re done.
The Average Wedding Budget
Reviewing a typical wedding budget can help you with crafting your own. Everyone’s costs will be different, but The Knot provides some typical percentages for common nuptial costs. The top five expenses usually include the following:
- The reception, accounting for nearly half the budget
- Photography and videography, constituting between 10 to 12 percent
- Apparel, taking up around 8 to 10 percent
- Flowers, usually between 8 and 10 percent
- Music and entertainment, comprising around 8 to 10 percent
The ceremony itself, stationery, rings, transportation, and gifts each constitute around 2 to 3 percent of total wedding costs. Additionally, miscellaneous expenses could take up around 8 percent, and The Knot’s experts recommend allotting around 5 percent of your budget for unexpected expenditures, such as invitation reprints or extra alterations.
Why Some Couples Spend Too Much
Although average wedding budgets can serve as good guidelines, Alyssa Griffith at A Practical Wedding points out that these may not work for every couple’s unique circumstances. At the same time, your best-laid plans could fall apart in the face of unexpected developments such as higher prices on individual items, spending extra to get the right vendors, or forgetting to account for surprise expenses. Also, Brides writer Sandy Malone points out several common budget stumbling blocks:
- Transportation for vendors
- Extra charges for envelope stuffing and calligraphy
- Setup and breakdown expenses
- Additional fees for digital access to your photos
- Outdoor venue amenities such as tables and chairs, dishware, lighting, or climate control
- Upgrades to individual items in wedding packages
How To Construct Your Financial Plan
In her article for A Practical Wedding, Griffith offers several sample budgets ranging from $2,000 to $30,000. Meanwhile, she also suggests some good practices for building a wedding spending plan. First, think of some specific qualities you want your celebration to have. Its atmosphere, formality level, and guest count are critical factors that will drive your event’s expenses. Second, you need to know if family members will chip in or whether you and your sweetie are paying for everything on your own. Griffith adds that it’s a good idea to plan as if you won’t have any extra financial assistance, as this can keep costs down and expectations realistic.
Besides these useful tips, Griffith also recommends selecting and ranking the top three priorities for your wedding. It’s a smart way to figure out which items will take top billing in your budget as well as those for which you won’t dole out as much money. These “must-haves” will also determine the vendors you select along with your affair’s overall tone and style.
Smart Spending for Your Wedding
One of the first steps to throwing a great wedding is setting your budget. While drafting a spending plan sounds like an arduous step, it’s usually not as difficult as one may think. Start off by envisioning the type of event you want to create, limiting your guest list, and setting your priorities to form a basic budget. Meanwhile, be judicious with selecting upgrades and keep an eye out for unplanned expenses. Follow these wise ways to reign in your costs in the months leading up to your nuptials.
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