6 Easy Steps For Setting Your Wedding Budget

First comes love, then comes engagement, then comes setting a wedding budget!

It may not be the most glamorous or fun part of planning a wedding, but it’s a necessary step to take before you start booking vendors for your wedding. Booking anything without establishing a budget first leads to uneducated spending where you can end up spending more money than you had anticipated. But, if you’re guilty of splurging a bit when it comes to your wedding plans, don’t worry you’re not alone. In Wedding Wire’s Newlywed Report for 2020, they discovered that nearly 60 percent of couples increase their wedding budget during the planning stage, roughly spending about $28,000 in total. Couples said that guest count, location, and venue were their top three considerations when it comes to budgeting, which can help you keep perspective on your spending. We know it can be hard to navigate a budget, especially when it comes to your big day, so if you need some help we’ve listed six easy tips that will help you set your budget!

Know Who Is Contributing

We know having a conversation about money with your loved ones can be slightly uncomfortable, but it’s a big part of determining what will be a practical wedding budget for you and your partner. You need to know who will be contributing to your wedding – whether that’s your parents, your future in-laws, or just you and your partner. If any family members or loved ones are willing to contribute to your wedding, make sure to determine an exact amount they’re willing to contribute or which wedding item they’re willing to pay for – if that’s the venue, flowers, or the photographer. This will help you figure out how much of your budget you and your partner will need to come up with on your own.

Photography by Fabiana Skubic Photography

Set Your Limit

Whether you’ll be paying for the wedding yourself or accepting contributions, make sure to add up exact amounts of each wedding item to reach a realistic budget. Take into consideration any contributions from your families, you and your partner’s monthly income, as well as any savings. You’ll also want to consider the guest list as there is usually a per-head expense for each guest, meaning the bigger the wedding the more expensive it will be. If you’re able, consider adding some cushion to your budget by making it slightly higher than originally planned to account for unexpected extra costs.

Determine Your Priorities

Consider your wedding priorities and discuss with your partner which items are must-haves – whether that’s an open bar or a top-notch photographer. This way you can book your necessities first and allocate the rest of the funds accordingly. Pro-tip: Finding your venue first is always beneficial as it’s usually the most expensive item you will purchase for your wedding, and it helps to determine how much money you have left to spread out amongst the rest of your wedding items.

Do Your Research

Research, research, research! It can’t be stressed enough how important the research step of the planning process is. Not only should you find out how much a wedding in the location you are planning typically costs, but also research your vendors. Make a list of the least expensive to the most expensive options based on what you desire. This way you can determine what is worth splurging on and compare pricing for what you would be receiving.

Track Your Spending

It can be so easy when moving through the planning process to forget to keep track of your spending, but it’s so important. Make sure to set up a spreadsheet with “estimated” and “actual” columns that you can fill in along the way. Check off each item as you book them and subtract it from your total budget to give you an idea of how much you have left to spend before hitting your maximum.

Photography by Jessie Wyman & Christina Anne

Photography by Jane from the Thompson Photography Group

Be Realistic About What You Can DIY

Thinking of where you can save money on your big day is a smart move, but beware of what you’re able to handle. You have to remember this can be a busy time and realistically, booking venues like barns or lofts can end up costing more than you expect with the addition of decorations and table arrangements. This could lead to last-minute fees if you end up having to book vendors late, so be sure to evaluate your DIY options and consider easier ways to save money like cutting your guest list or simplifying the menu.

All of our budget-savvy brides – share this with another bride-to-be who is trying to set their wedding budget. Looking for an affordable wedding gown that can seamlessly fit into your budget? Browse our collection of made-to-measure wedding gowns that are priced at $1,200 or less!

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