How to Budget for the Wedding of Your Dreams
Budget.
It is the dirty word of wedding planning. No one wants to talk about it because it makes people uncomfortable. If you are a newly engaged couple, you want to pick colors and dresses and pretty fabrics. You do not want to explain how many dollars you do (or do not) have to spend on actually making your dream wedding a reality. But the truth is, knowing how big (or small) your budget is in definitive terms is crucial to reducing stress in wedding planning. Many of you likely found this blog because you searched “how to have a cheap wedding,” or “wedding budget tips,” or something of that nature. This implies that you are looking for ways to cut corners to plan that dream wedding. This makes sense, but the premise is warped. Read on for a lesson on how to budget for your wedding like a pro.
There are three main variables to consider when deciding on a budget for your wedding. These would be the money, the dream, and the guest count. You can manipulate any of these to get a wedding worthy of your best day ever. The money is a good starting point because it is the simplest to determine. Start with the amount you already have saved. Now add the contributions you will have from family. Lastly, add a comfortable amount from the excess of your monthly budget until 90 days before your wedding. Boom, this number is a debt-free, finite budget. This is the number you should give when asked what your wedding budget is, not “affordable.” That is not a number and it is not a helpful way to look at things when trying to plan an event with a lot of moving parts. All prices are affordable to someone.
The dream needs to be managed to an extent. The first thing everyone does is go to their Pinterest board and find all of the most dreamy photos they can for inspiration. And while inspiration can be useful and wedding planning should be fun and exciting, you must realize that most Pinterest photos are styled shoots, not real weddings. This means that vendors came together to create the best of the best for advertising purposes. There is nothing wrong with this as it gives vendors the chance to showcase their abilities. However, they are not indicative of natural circumstances and the value of those services would be on the high side of many budgets. I advise couples to gather inspiration and gush over the dream all they want! When it is time to plan, we make a list of things that are must-haves to the couple. They look through their inspiration and find common themes: lush flowers, artsy photography, or the sweetest of dessert bars. Then we know what elements are needed and can build around that so that the dream is not simply an imitation of a post. It instead is a representation of their unique love.
The guest count is pivotal to your budgeting process. Each person added is another seat, plate, drink, and experience. The cost increases exponentially with every attendee. Some people think they have a money problem when in truth, they have a guest problem. Consider why you are inviting each of your guests. Who is the most important to your life? Would you cry if this person was not there? What about children? If you ask parents to get a babysitter, will that free up a considerable amount of space in your guest count? We feel that $250 a guest is a fantastic starting point and recommend that average to our couples. Go here for our budget calculator.
After you consider these factors, they can all be manipulated to reach the end goal: YOUR perfect day! Do not let anyone else define that for you! Balance these elements to find what works for you. You know how much money you have without debt and you know what is important to you. Now, decide which of the elements above is negotiable. For instance, you know how much money you have, but you also have a line of credit that you do not mind using. Or you’re unsure what you want your guest count to be. Or you are open to suggestions on which vendors and design elements are most important but you will not budge on having these 100 people at the event. Whatever is set in stone work around that. If you know that you have $20k and not a penny more, I would not advise you to invite more than 85 people. Give yourself room to breathe in the budget and have a splurge here and there. If you NEED the most lush flowers imaginable for your Tangled-themed garden party, find your perfect florist and venue first. Then see what that costs, multiply it by two, and use that as your starting budget.
As you can see, there is no straight shot to the perfect wedding budget. No one formula fits every wedding and that is fine! Work your budget around what matters to you. However, because there is no right answer, the solution can be difficult to discern and budget management can take plenty of time, effort, and flexibility. No one gave you more time when you got engaged and most couples simply do not have the time it takes to properly weigh all of the options. This is where having a professional really comes in handy! It could be a consultant, a Planner, or a Coordinator, but a dedicated person to relieve some of the stress of planning and budgeting for a wedding could be the best investment that you make for your day. If you need some help, feel free to set up a chat! If you have questions about this whole money thing, feel free to hit us up or comment. We love to hear from you!