CHAPTER 1: BUDGETING FOR YOUR PERFECT WEDDING
how to Budget for Your Perfect Wedding
It's time to plan your wedding, and you're compiling a checklist of all the details and vendors you'll need to book for the big day.
You and your fiancé probably can't wait to jump into the fun parts of wedding planning, like getting dressed up and sampling cake. But before you choose between buttercream frosting and chocolate ganache, you'll have to determine your budget.
Figuring out your wedding budget is the very first step you need to take in the planning process. Your budget will guide every decision you and your fiancé make, from the venue you choose to whether you'll give guests favors. Once you determine your budget, you'll want to decide who pays for what.
You can plan a beautiful wedding on a big or small budget. Follow this guide for helpful tips and advice on budgeting for your wedding and consider the cost of the details and vendors.
Determining a Reasonable Budget
Most couples do not have an infinite budget, and that's all right. Your wedding budget should be something you both feel comfortable spending, and there's no need to go into debt celebrating your marriage. In this chapter, we'll show you how to set the right budget for your ideal wedding — and a happily ever after.
How to Determine a Budget for a Wedding
Even if finances aren't your thing, sitting down with your fiancé to create your wedding budget is an exciting step. You'll both discover what's most important to you and what you envision on your wedding day. As you get down to the specifics of your special day, remember this guide on how to budget for a wedding — and if you're not sure where to begin, consider the following:
Determine how much you can afford to spend
First, consider what you can afford to spend and be ready to start writing things down. Ask yourselves the following questions:
How much do you have in your savings?
How much of your savings are you willing to use?
Will you have enough money left over for an emergency fund?
How much can you contribute from your current income?
To figure out how much you can contribute to your wedding budget from your current income, first determine your monthly earnings. Then, figure out how much you typically spend each month on bills, groceries and miscellaneous expenses. Once you choose how much money you and your fiancé spend each month, subtract these monthly expenses from your combined income.
Consider saving whatever money you have left for your wedding. If you don't have anything left over, look for ways to reduce your monthly expenses. For example, you might get takeout less often or skip weekend road trips as you save for your wedding.
If you're tempted to use credit cards to pay for your wedding, keep in mind that credit card debt can build up fast as interest accumulates. It's best only to use credit cards if you can realistically pay off the debt in a few months.
2. Find Out How Much Family Members Are Willing to Contribute
Are parents or other relatives planning to contribute to your wedding? If so, find out how much they plan to give and add it to your budget. If a family member says they'd like to buy the bridal gown rather than contribute cash, for example, take note. You can remove the cost of buying a dress when you break down your budget.
3. Set Your Priorities
First, you and your partner should agree on what type of wedding you both want. Couples can opt for a big gathering with different vendors and special additions like photo booths, live bands and extravagant decorations. Or you can have a quaint outdoor wedding with your closest friends and family.
Confining your wedding checklist to your budget doesn't mean you can't get what you want for your big day. Talk to your partner and decide what items are a priority to have at your wedding.
You can allocate more money to you and your partner's wedding priorities. Create a list with the top three things that are a must at your wedding, like your dream dress, catering or videographer.
After you decide your must-haves at your wedding, compile a list of aspects you can live without or that can have a small part of your budget. If you aren't prioritizing real flowers, opt for faux ones or DIY decorations for your bouquet or centerpieces, for instance.
Whether you have $1,000 or $100,000 to use for your wedding, you can have a beautiful day — but you need to think about your priorities. Once you know what you absolutely must have on your wedding day, you can budget for these items immediately and remove things that are not as important to you.
4. Decide How Many Guests You Wish to Invite
Your guest list size will determine how much you'll need to save for your venue, food, beverages, invitations, favors and anything else you plan to give guests. As a general rule, plan to budget at least $100 per guest.
If you're planning a wedding on a budget, one of the easiest ways to reduce costs is to invite fewer people and have a more intimate celebration.
5. Research Prices in Your Area
The cost of wedding venues, vendors and other wedding items may vary depending on various factors, including your location.
The average price of wedding expenses ranges from state to state. Wedding planning websites and search engines will be your best friend as you research different vendors in your area. You can compare prices on catering, entertainment, photography and other services. It's also helpful to ask around for vendor recommendations to see if you can find wedding vendors that fit your price range.
You can go to wedding conventions near you that have various vendors and wedding ideas, as well. Wedding and bridal conventions are a great way to meet local businesses and get an idea of what different aspects of your wedding may cost.
6. SET A MAXIMUM BUDGET
After you decide what items are a priority at your wedding and have an idea of what each vendor will cost, set a maximum budget.
It's best to discuss your wedding budget with the people who will be paying for the wedding. These contributors might just be you and your partner. Or it might be family members who want to help, like your parents, grandparents or extended family. Finding out who is officially contributing to your wedding is crucial to establishing your wedding budget.
7. Decide if You're Planning a Honeymoon
If you're planning a honeymoon after your wedding, consider if you'll include it in your wedding budget or have a separate savings account. Either way, expect to set aside around $5,000, which is what the average couple spends on their romantic getaway.
Some couples delay their honeymoon until they can save up again and instead go on a "nanomoon" immediately after their wedding. Others enjoy staycations to spend special time together as newlyweds. It's up to you and your fiancé and what you can afford.
8. Get Started!
You've narrowed down your must-haves, completed your research on wedding costs in your area, set your budget and established your guest count. Now it's time to start going down your checklist and begin the fun part of wedding planning.
How Much to Budget for a Wedding
Your wedding day is about having fun, but stopping yourself from getting carried away and overspending is essential. An excellent place to start is to have your wedding costs broken down and align these with your overall budget. Prioritize your expenses so you know where to cut some funds to add to items that matter most to you. Remember to research prices in your region and use a spreadsheet or a budgeting tool to keep on the right track. Here are some guidelines to help you plan the budget for your special day.
Average Wedding Costs
According to the global industry-leading wedding vendor marketplace, The Knot, the average wedding costs $30,000, excluding the engagement ring, which cost $6,000 on average. However, this is just an average, and the cost of your wedding can be drastically more or less and differs from state-to-state. If you only invite a few family members, for example, you'll require a much lower budget than if you ask hundreds of guests to attend.
The cost of your wedding is completely up to your unique celebration and how much you're comfortable spending on your big day.
Your wedding's cost can include anything like the rings, wedding vendors, venue, attire, decorations and other details you add. As you plan your wedding, you'll find options in those areas that suit a range of budgets. From extravagant details to a minimalist wedding, your celebration can be anything you dreamed of on any budget.
When you're organizing your wedding checklist, you'll want to know the average wedding cost breakdown. You'll need to know what items to place on your list and how much of your budget to allocate toward each section.
The next sections include the main items you'll need to add to your wedding checklist and about how much of your budget you should save for that part of your wedding.
RECEPTION COSTS
Your reception will be the party of the evening and will include your venue, rentals, cake and catering. This area will encompass about 50% of the overall wedding budget you chose.
Your wedding venue should be spacious enough to hold the number of guests attending your wedding. It'll likely be a significant portion of your reception budget. Consider planning an off-season wedding or checking for potential venue discounts during certain times of year.
Catering will also take up a big portion of your budget, and you'll likely pay per person for your catering. There are so many options for catering, from in-venue options to finding your own. You can find ways for food and drinks at your wedding to fit your specific budget.
WEDDING ATTIRE
Your wedding day is one of the most memorable days of your life. You'll want to look your best and feel confident on your big day. You'll need to budget for the wedding attire, hair and makeup for your wedding day. Consider allocating around 9% of your budget toward attire and beauty.
You can find gowns and suits at varying price points. Browse different stores in your area or shop for your wedding attire online. Many people decide to hire professionals for their wedding hair and makeup. But if you're confident you can complete your own look for your wedding day, you'll save more room in your budget for other areas.
FLOWERS AND DECORATIONS
You've looked through all the different wedding themes and design ideas to come up with your vision of how you want your big day to look. Flowers, decorations and other items to dress up your venue will take around 8% of your budget. If your ceremony and reception venue are the same, you may be able to save room in your budget by using the same flowers and decorations.
You can also consider whether you'll rent decorations or make your own to preserve your budget.
Music and Entertainment
After you've said your "I do's," it's time for the party. Your wedding reception will be lively with music and dancing. You'll have the option of booking a DJ or a live band to entertain the party. For this part of the wedding, you should set aside around 7% of your wedding budget for music and entertainment. Your DJ or band will usually act as your MC for the night. They will make sure the night runs smoothly after the ceremony and keep your guests on the dance floor. Complete some research before booking your entertainment to see which option fits your budget.
PHOTOGRAPHY AND VIDEOGRAPHY
You'll want to capture every moment of your big day, and hiring a photographer and videographer for your wedding day will leave you with tangible mementos to cherish. You should save around 12% of your overall wedding budget to pay for your photographer and videographer. You can find numerous photographers and videographers that have different price points. These professionals take the time to edit your photos and videos to make sure you have quality images and a short film of your best day ever.
CEREMONY COSTS
For your ceremony, you'll need an officiant to legally marry you and your partner. This person will help make your ceremony run smoothly and prepare what will be said during it. You'll need about 2% of your wedding budget for your ceremony.
WEDDING BANDS
Remember to include your wedding bands in your budget. Your rings will be tangible items that signify your love and commitment to each other, and they're a vital part of your wedding ceremony. Use around 2% of your budget to purchase wedding bands.
INVITATIONS AND OTHER STATIONERY
You'll send out a few different printed products to your wedding guests, like your save-the-dates, invitations and thank-you cards. You can order stationery online, have a print shop create them or make them yourself. You may also need to print out other items like menus, programs, table numbers and escort cards. Your invitations and other stationery can encompass around 3% of your budget.
WEDDING FAVORS
Many people decide to give their guests wedding favors. You can also provide gifts for your wedding party and family members. Save around 2% of your wedding budget for favors and gifts.
Some couples combine their floral and favor budgets by giving centerpieces to guests as favors. You can also consider making DIY favors for a personalized touch that can also save money.
HIDDEN WEDDING COSTS
Planning a wedding is exciting, but you'll need to pay attention to potential hidden costs. Most of these are pre-wedding costs you'll need to account for as you plan. While you're making your checklist, make sure you add some of these forgotten wedding costs to the remaining percentage of your wedding budget:
Wedding party proposals: When you ask your wedding party to be a part of your special day, you might want to buy them a few goodies. Decide on a price you're OK with and add it into your budget to avoid spending too much.
Bachelor and bachelorette parties: You'll want to celebrate before you're married with your wedding party. Before you book your bachelor or bachelorette trips, pick a price to add to your budget. Consider whether you have enough room in your budget to take a weekend trip or if you want to save with a day trip somewhere close.
Marriage license: Your marriage license is what makes your commitment to each other legal. The cost of your marriage license depends on what state or country you and your partner have your wedding in. If you need certified copies of the marriage license, you'll need to pay for those, as well. It's also important to know the laws surrounding how to make an appointment for your marriage license.
Postage: You need to send your guests a few different types of stationery for the wedding. You'll also need to purchase all the postage for the mail, which you might not think about when choosing your stationery. You can order postage online or visit your local post office to purchase the stamps you'll need to send out invitations, save-the-dates and thank-you cards.
Wedding Budget Examples and Breakdown
Regardless of how much you have saved for your wedding, it helps to break your budget down, so you know how to distribute funds. To show you what we mean, here's an example of how you might allocate funds:
| Wedding Cost | Percentage of Budget |
|---|---|
| Reception | 48% to 50% |
| Ceremony | 2% to 3% |
| Attire | 8% to 10% |
| Flowers | 8% to 10% |
| Entertainment | 8% to 10% |
| Photography | 10% to 12% |
| Stationery | 2% to 3% |
| Rings | 2% to 3% |
| Parking and transportation | 2% to 3% |
| Gifts | 2% to 3% |
| Miscellaneous | 8% |
| Surprise costs | 5% |
Your wedding budget will be broken down depending on your priorities. For example, if it's more important to have hanging flowers than to hire a calligrapher, you might decrease the amount you save for stationery so you can increase your flower fund.
You can also use a wedding budget calculator to help you break down your budget and see if you're over or under.
How much should we save for our wedding?
Once you've figured out how much you can spend within each category, make sure to keep track of your spending as you plan your wedding. It helps to enter your payments into a spreadsheet. Start with estimated costs for each category in the spreadsheet, and then every time you make a payment, enter the actual cost. This will show you how close you are to reaching your budget. To see an example of how to record your expenses, check out this wedding budget chart.
How Much to Budget for Alcohol at a Wedding
According to the Knot Wedding Study, couples typically spend $2,400 on reception alcohol. How much you need to budget for alcohol depends on what you wish to serve and whether you want an open bar, limited bar or a cash-only bar. On average, expect to spend between $15 to $45 per person.
What's the Difference Between an Open Bar and Cash Bar?
An open bar allows guests to drink whatever beverages are offered without a limit or paying, and a cash-only bar requires guests to pay for their beverages. With an open bar, you can expect to pay a specific price per person based on how long the bar is kept open. Typically, the longer you offer an open bar, the more it's going to cost per guest. Also, know that premium brands cost more than house brands, and a service charge may be added to the cost.
An open bar is the most common option for weddings, and something guests certainly appreciate. Guests can leave their wallets at home, and they don't have to worry about closing their tabs at the end of the reception. If you have room in your budget for an open bar, it's a great way to set a celebratory mood.
A limited bar is the best of both worlds. Limit the complimentary drinks to beer, wine and a signature cocktail. Any other beverages are up to your guests to purchase.
What to Consider
An open bar definitely has advantages, but it may not make sense if most of your guests don't drink. Before you budget for an open bar, consider your guests, how much they'll likely drink and the type of beverages they prefer. Also, think about the time of day you plan to have your reception. If you're having a morning reception, for example, guests will be less likely to drink alcohol than if you celebrate at night.
How Much to Budget for Flowers for a Wedding
Couples usually spend anywhere from $2,000 to $11,000 on flowers. This price will increase or decrease depending on the look you want.
For example, if you wish to have dozens of fresh flowers decorating the venue, you might expect to pay much more than $2,000. However, if you choose to add other decor in place of flowers, you'll spend a lot less on blooms.
You might also consider selecting a beautiful venue, which means you won't have to spend as much on decorations. For example, if you visit Weddings at Baywood, you'll find award-winning gardens as your ceremony backdrop.
Lastly, know that some venue packages include floral arrangements, which can help you stay within your budget.
How Much Is Wedding Photography?
Almost 90% of couples hire photographers to capture their big I-dos. On average, a wedding photographer costs $2,600. Prices and packages vary. Some photographers include engagement shoots and rehearsal dinners in their services. If you plan a lavish wedding with over a hundred guests, you may need a second shooter to ensure no special moment is missed.
Photographers may also charge different prices if you want photos in organized albums, in online galleries or on a USB drive. Most wedding photography package prices are based on the additional hours you need before or after the wedding and the number of edited photos you receive after the big day. Some wedding photographers give sneak peek files of pictures that you can purchase at an additional cost. Keep this in mind if capturing the big day is a big deal to you.
Wedding Videographer
You may consider getting a wedding videographer along with a photographer to get cute soundbites and touching footage of your nuptials. Like photographers, videographer costs vary and increase with time. On average, bridal couples spend about $2,100 on wedding videographers.
Example Wedding Budget of $15,000
Your wedding is about celebrating your love. It doesn't have to be about extravagant spending.
Is $15,000 a Good Budget for a Wedding?
If your budget is $15,000, you can still have an amazing wedding. With a $15,000 budget, the key is to keep the guest list to 50 people or fewer. Other ways to keep costs within your budget include sending invitations through email or choosing a venue's buffet package rather than a plated dinner.
What Is Considered a Small Wedding?
Wedding planners typically consider small weddings to have 50 or fewer guests.
Are you planning a small wedding, or are you dreaming of a colossal celebration? Whether you desire a cozy, intimate wedding or can't wait to party with all of your friends and family, we're excited to accommodate you on your big day. Contact us today to learn more about Weddings at Baywood.
Weddings at Baywood
Baywood Weddings and Events is an all-inclusive wedding venue in Southern Delaware, located on the Culinary Coast. We provide stunning indoor and outdoor wedding spaces with various packages tailored to your budget. Our dedicated team offers a range of services, including event management, flower arrangements, catering and guidance services to make your wedding day unforgettable. We accommodate small, elegant weddings of 20 guests to big, lavish gatherings of 300 guests.
We'll help you start planning your special day.
Take the Stress Out of Your Planning
At Baywood Weddings and Events, we understand that your wedding is a milestone event and something you want to cherish for the rest of your life. As fun as planning your I-do's can be, it can also be tedious, especially regarding budget and vendors. Our team of experienced experts will help you plan your special day while sticking to your budget and package.
We'll help you have a beautiful wedding without breaking the bank.
Contact us today to learn more about your perfect wedding. Alternatively, keep reading to learn more about planning pre-wedding events, the next steps in planning your wedding, and the wedding day checklist.