Planning A Wedding On A Budget: Smart Tips

Planning a wedding can be stressful, but creating a wedding budget can help you avoid wasting money or starting married life in debt. The average cost of a wedding in the United States in 2024 was $33,000, but the amount you should budget for will depend on a number of factors, such as the type of wedding you want, the time of year, the location, and the number of guests. To work out your budget, you'll need to consider how much you and your partner can contribute, whether any family members or friends will be contributing, and what your priorities are for the day.

Discuss with your partner and decide on a maximum spend

When it comes to wedding budgets, communication is key. It's important to have open and honest conversations with your partner about what you can afford and what your priorities are. Here are some steps to help you decide on a maximum spend for your wedding:

• Discuss your non-negotiables and expectations: Take turns sharing your must-haves, ideal scenarios, and expectations for the wedding. Be reasonable and understand that you may not be able to have everything you want. Agree on a few non-negotiable additions for each of you and be prepared to discuss and find a compromise if your non-negotiables conflict.
• Find common ground: If your visions for the wedding differ, try to find a solution that works for both of you. For example, if one of you wants a large wedding and the other prefers an intimate celebration, consider having a smaller ceremony and a larger reception.
• Determine your budget sources: Confirm where the money for the wedding will come from. Discuss how much you and your partner can contribute, and whether any family members or friends have offered to help financially. Be sure to have clear parameters around decision-making if others are contributing financially.
• Set a realistic budget: Once you know your budget sources, set a realistic maximum expenditure that you're comfortable with. Consider your savings, income, and any expected financial contributions from others. Be prepared to adjust your expectations if needed.
• Create a budget breakdown: Decide on how much you need to spend on each category of expenses. Common categories include venue, catering, wedding planner, photography, attire, flowers, decor, entertainment, transportation, and honeymoon. Allocate your budget accordingly, giving more weight to your priorities.
• Have a plan for budget changes: Discuss whether your budget can be flexible or if you need to stick to a hard limit. If your budget is set in stone, communicate this clearly to your vendors and be prepared to make compromises or find more budget-friendly options.
• Remember your values: Planning a wedding and sticking to a budget can be challenging, and disagreements may arise. Remember why you're getting married and the importance of your relationship. Keep your shared values and goals at the forefront of your planning process.

By following these steps, you and your partner can decide on a maximum spend for your wedding and create a budget that aligns with your priorities and financial situation.

Research costs in your area to set realistic expectations

When it comes to wedding budgets, it's important to be realistic about what things cost in your area. The cost of a wedding can vary widely depending on location, with larger cities like New York often coming in higher than average. For example, in 2023, the average wedding in New York City cost $63,000, almost twice the national average of $35,000.

To set realistic expectations, research the average cost of weddings in your area and the breakdown of expenses. Consider factors such as venue, catering, wedding planner, photography, entertainment, stationery, flowers, decor, attire, transportation, and wedding cake. These are all essential components of your big day and will vary in price depending on your location and the specific vendors you choose.

Online resources and budgeting apps can be incredibly helpful in this process, providing insights into average costs and allowing you to compare prices. Additionally, consider reaching out to other couples in your area who have recently planned weddings to get a sense of the costs they incurred. By gathering this information, you can create a more accurate budget that reflects the realities of your desired wedding location.

Remember, it's crucial to be flexible and understand that costs may change or unexpected expenses may arise. Building some wiggle room into your budget can help you navigate any surprises and ensure your special day goes as smoothly as possible.

Tally up contributions from all parties

While it can be an awkward conversation, discussing finances with family members is an important step in tallying up contributions for your wedding. It is worth noting that, in 2023, the average couple paid for about half of their wedding costs, with the other half being covered by family.

It is important to be clear about who is contributing and how much they are willing to spend, as this will affect your final numbers. Be mindful that some family members may not have any idea of how much they should contribute, so it is a good idea to offer suggestions. For example, they could pay for a percentage of a vendor, or cover the entire cost of a package, such as the bar tab.

It is also worth noting that, while it is traditional for family members to support the couple financially, this is not always the case. Be prepared for the possibility that your family may offer to help in other ways, or that you and your partner may need to cover the entire cost of the wedding yourselves.

To make everyone comfortable, it is recommended that you have separate conversations about money with each side of the family. This can help to avoid any potential awkwardness or competitiveness.

Once you have a clear idea of what contributions you can expect, you can adjust your budget accordingly. For example, you may be able to afford a higher-priced photographer, or you may need to expand your budget to cover additional costs.

Remember to keep the lines of communication open and be flexible, as contributions and budgets may change during the planning process.

Consider hidden costs, e.g. cake-cutting fees

When planning a wedding, it's important to be aware of hidden costs that can add up and blow your budget. Here are some things to consider when creating your wedding budget:

Service Fees and Gratuities

Service charges, which cover the cost of hiring servers, coat checkers, bathroom and parking attendants, can amount to 20-25% of the total food and drink fee. It's also customary to tip your vendors for their hard work. Set aside at least $800 for gratuities and be prepared to pay service charges on top of that.

Cake-cutting Fees

Some venues charge a cake-cutting fee, which can range from $2 to $5 per guest. If you're bringing in an outside cake baker, there may also be a corkage fee for using their services instead of the venue's. These fees can add up, so be sure to ask about them upfront.

Vendor Travel Fees

If your vendors have to travel a significant distance to your wedding, they may charge a travel fee to cover their time and fuel costs. This can be a flat fee or charged per mile. For destination weddings, you'll also need to cover their accommodation and other expenses. Choose local vendors whenever possible and ask about travel fees upfront to avoid surprises.

Overtime Fees

Your band, DJ, photographer, and videographer are usually booked for a specific amount of time. If your wedding runs longer than expected, they will charge overtime fees, which can be expensive. To avoid this, factor in additional time for getting ready and taking photos, and get any overtime costs in writing beforehand.

Setup and Breakdown Costs

If you're renting a space that doesn't include setup and breakdown services, you'll need to budget for these. Charges for garbage removal and cleaning can add up to several hundred dollars. Even full-service venues may require same-day setup and breakdown, so read your contract carefully to understand what's included.

Taxes

Don't forget to account for taxes, which can vary by state. Paying the bill in one lump sum can help lower the overall cost. Add an extra third to your total budget to cover taxes and gratuities.

Postage for Invitations and Thank-You Cards

The cost of postage for your wedding invitations and thank-you cards can quickly add up, especially if you have a large guest list or non-standard envelope sizes. Online save-the-dates can help reduce postage costs, and creating a wedding website can eliminate the need for postage on RSVPs.

Wedding Insurance

While not mandatory, wedding insurance can provide peace of mind and protect you financially in case of unforeseen circumstances. With weddings costing tens of thousands of pounds, insurance can minimise losses if something goes wrong.

Vendor Meals

Don't forget to budget for vendor meals. Your vendors will be working long hours, and it's important to keep them fed and energised. Vendor meals typically range from $30 to $90 per person.

These are just a few examples of hidden costs that can impact your wedding budget. Be sure to do your research, read contracts carefully, and ask lots of questions to avoid surprises.

Create a spending plan, allocating funds to each category

Creating a spending plan is a crucial step in the wedding budgeting process, helping you to allocate your budget across different categories and prioritise your payments.

Firstly, it's important to understand what a spending plan is and how it differs from a budget. A budget is the overall amount you have to spend on your wedding, whereas a spending plan is how you break down the budget for each segment of your wedding.

When creating a spending plan, it's important to define in advance how much you're allotting to each category. These categories might include:

• Venue, attire, floral and decor, entertainment, transportation, hair and makeup
• Reception venue, catering and rentals
• Wedding planner/coordinator
• Photography and/or videography
• Reception music/entertainment
• Stationery
• Flowers and decor
• Wedding attire and beauty
• Wedding cake and desserts
• Transportation
• Tips
• Rehearsal dinner and other wedding events
• Honeymoon

The amount you allocate to each category will depend on your personal priorities and circumstances. For example, if you're planning an intimate wedding with only your closest loved ones, you might allocate a smaller percentage of your budget to the venue and catering. On the other hand, if you're dreaming of a luxurious, flower-filled celebration, you might choose to increase the percentage of your budget dedicated to flowers and decor.

It's also worth noting that the cost of weddings can vary significantly depending on location and season. For example, a wedding in a hotel in New York City will likely be more expensive than one in a public park in Tucson, Arizona. Similarly, the day of the week and time of year can impact costs, with Saturdays in June typically being more expensive than Wednesdays in March.

When creating your spending plan, it's essential to be flexible and make adjustments as needed. If you realise that your budget doesn't align with your vision, you can consider cutting expenses, finding more budget-friendly vendors, or negotiating better deals.

Remember, your spending plan is a tool to help you stay organised and ensure your wedding dreams become a reality without breaking the bank.

Frequently asked questions