The Wedding Budget
Huge congrats on your engagement! I hope you have celebrated over and over with all your loved ones. It really is the most exciting time!
Whenever you are ready to start thinking about your wedding plans, you need to start considering the least glamorous part of the planning - the budget!
Whilst planning a wedding is one of life’s most exciting milestones, it is also a time of significant financial spend. Before you even consider what you can and cannot spend on this special day, you need to stay focused on what really matters to you both so that it doesn’t become an overly stressful experience for either of you.
Here’s our guide to managing your wedding finances for an experience that feels fun, joyous and filled with love:
Decide What YOU Want
This is your day. Please do it your way. Don’t feel pressured to conform to traditional wedding elements. If having a bridal party isn’t for you, don’t have one. If having a wedding cake or a bouquet isn’t your thing, skip it. Consider an intimate ceremony or elopement if that’s what speaks to you. Go abroad and have a destination wedding if you want to. Invite who you want to be there. Whatever it is that you want, you can have it… with some sacrifice, a little bit of negotiation, a whole lot of planning and clear budget management.
Determine Who Exactly is Paying What
The first step in working out your wedding budget is identifying who will contribute financially to the wedding. Whilst tradition once said that the bride’s parents covered the expenses, thankfully we are now seeing many couples covering their own costs. However, if some of your family members offer financial support and you are happy to take it, make sure to have a very candid conversation understanding what they are able to afford to pay and when they plan to give you this contribution. This will help you both to establish a firm foundation for your overall budget. If family members are helping you to pay for the wedding, it is important to discuss their expectations and any conditions they may have. Maybe they feel that they can add more guests because they are paying for some of the day and you are restricted with guest numbers at your dream venue? Having this conversation early on will help avoid misunderstandings and unnecessary stress and align everyone’s vision for the day.
Do Up Your Guest List
Your guest list is a big factor in determining your budget, directly influencing your venue choice and cost. Begin by listing the total number of guests you would like to invite whilst considering their likelihood of attending. Generally, we see approximately 20% of your invited guests declining an invitation whether it’s at home or a destination wedding. People are really loving the invites to destination weddings in recent years! Budget aside, it is so important to note that if you really aren’t keen on having certain people at your wedding, the best thing to do is not invite them!
Set a Budget Before You Start Looking
Do not start looking at venues, suppliers or even dresses without a realistic budget of what you can spend. This helps you to avoid falling in love with options outside of your financial reach. A wedding planner will help you to avoid wasting time contacting venues and suppliers that are not suitable for your budget and will guide you to choose the best people for your perfect wedding within your budget. Despite meticulous planning, I always make sure that my couples know that unexpected expenses will arise. These could include last-minute changes in the guest list, additional decor requirements, or extra trips for planning, along with travel and accommodation expenses. It is wise to set aside an emergency fund to cover surprises without financial stress.
Track Your Spending
Create a spreadsheet to track your wedding budget. If doing spreadsheets is really not your thing, ask a friend or family member to help you with it! Alternatively your wedding planner will help you with this too. Break down your estimated costs by category and update the document as you receive your fave supplier quotes. As you book and pay deposits for your suppliers, add each expense to make sure that you are staying within your budget. If you choose to try on that way-out-of-budget dress and fall in love, you only have yourself to blame!
Do Not be Afraid to Negotiate with Suppliers
Chances are that you don’t know how much wedding photographers or florists charge for their services. There’s also a chance you will be surprised once you start getting quotes. It’s important to remember that everyone involved in your wedding day is running a business and needs to be paid for their expertise, time, talents and skills. However, it is absolutely acceptable to be totally upfront with the supplier and try to negotiate a price that works for you if you really want them involved in your day. Many are willing to customise service packages to fit your budget. Whether it’s reducing the hours of video or photography provided or opting for different flowers, a flexible attitude and good communication can lead to significant savings and allow you to have your dream team on the day.
Everyone has a budget and working within a budget doesn’t mean compromising on the joy and beauty of your day. You just need to set clear priorities and know what is most important to you both. By staying organised, and embracing negotiation, you can create a memorable wedding that reflects your unique style without the financial strain.
Your wedding day is about celebrating your love so please also remember this when you’re planning. It’s going to be the most perfect celebration for you two!
