Setting Your Budget for Your Wedding

Prior to setting your budget, you and your fiancée should have decided on the size of your guest list and the type of wedding (either formal, informal or semi-formal).  As you research your reception site, figure on about 80% of your wedding guests will come to the reception.  In addition, the more formal the wedding, the more expensive it would be.  Also agree on who pays for what.  In previous days, the bride’s parents pay for the wedding while the groom’s parents pay for the reception. This is no longer the norm in this century. Most engaged couples are now paying for the wedding expenses themselves.  With the cost of weddings these days, it is not uncommon to ask your parents to pitch in with the expenses, if they so please. 

Just because the average wedding now costs upwards of $28,000 (see our post Planning A Wedding - Where to Start) you do not need to spend that much to have your perfect wedding. If you have this kind of money saved, then go for it. But, if you would rather spend less for the wedding and save the rest for a nice down payment for your house or furnishing for your new apartment, be frugal and watch your budget by setting your budget priorities. Decide what is important to you and what is not a priority. For example, you budgeted $15,000 for your wedding and you fell in love with a beautiful wedding gown in one of the bride’s magazines that you bought. The gown costs $3,000.  Before placing your order, you need to ask yourself how important is the gown to you? What are your other priorities for your wedding? With these priorities in mind, is it worth spending 20% of your budget on this bridal gown?

Once you have set your mind on where your money should be spent, you can begin planning your budget. For starters, allocate your expenses using the percentage guidelines below. You can change the percentage of all or any of the expense items based on your priorities and its importance to you and your fiancée. If you spent more on one item, you need to cut down on another item to insure that the total percentage is equal to 100.

• Reception - 47% (Reception site, food including tax and tips, bar & beverage, wedding cake & wedding topper, flutes & cake servers, wedding favors, guest book and pen
• Wedding Attire - 10% (wedding dress, head piece/veil, undergarments, wedding garters, lingerie, shoes/wrap/bag, jewelry, hair & make-up, groom’s tux or suit, groom’s other ensembles)
• Flowers - 10% (ceremony-site flowers, bride’s bouquet, wedding party flowers, flower girl flowers & basket, reception-site flowers)
• Photography/Videography - 10% (engagement pictures, photographer fee, videographer fee, wedding album package, disposable cameras, extra prints)
• Music - 8% (ceremony, band/DJ, cocktail hour, sound system rental)
• Ceremony - 3% (location fee, officiant fee, marriage license, ring pillow)
• Wedding Rings - 3% ( bride’s ring, groom’s ring)
• Paper Goods - 3% (Announcement/Save the Date, invitations & enclosures, postage, programs, escort cards/place cards, thank you notes)
• Miscellaneous - 6% (welcome baskets, rehearsal dinners, bridesmaids’ luncheon, attendant’s gifts, wedding gifts for each other, parent’s gift, wedding-day transportation)

We have a Wedding Planning Budget spreadsheet in an Excel file. If you want to get a copy of this file to use for tracking your expenditures, please send us an email and we will gladly send you the file. We will NEVER give or share your address to third parties and you may unsubscribe at any time..

To stay organized, purchase a 3-ring binder and index tabs with envelopes from your favorite office supply store like Staples or Office Depot.  Insert tab pages for each detail or expense item of your wedding. Save magazine clippings in the appropriate index envelopes. Keep notes and worksheets for each detail in your 3-ring binder.  Now you will be well on your way to making your wedding unforgettable and reducing your stress. Remember, this is your wedding - do it your style!