ENFAQ’s | How to manage your wedding budget
Knowing how to manage your wedding budget can be rather tricky, especially if you are relatively clueless on what to expect when it comes to the cost of each aspect.
That’s why prioritising your budget before you get started is absolutely paramount to getting what you want without totally overspending – and let’s face it, it’s easily done!
According to @weddingwire 74% of couples go over budget!
In this post I’ll give you some insider knowledge on how to approach your wedding budget, what you can expect to spend on each part of your big day, a few tips to help you prioritise your wedding budget and a FREE Wedding Budget Planner.
First of all let’s talk about why it’s so important to decide on your budget… basically, because budget determines everything! Ev-e-ry-thing! It determines where you will have your wedding, and every little detail after that. That’s why you MUST prioritise before you start to spend!
Prioritising before you start to spend!
To figure out your budget, you may need to understand how much the average couple spends on each aspect of their wedding.
Of course you can bend your budget anyhow you choose, but being informed puts you in a better position to make decisions or give you a basic starting point at least. According to @weddingwire you can expect your budget to be broken down to look something like this:
50% – Venue, Catering, Cake, and Rentals, 12% – Photography and Videography, 9% – Wedding Attire, Hair, and Beauty, 8% – Flowers, Lighting, and Décor, 7% – Reception Music, 3% – Wedding Planner, 3% – Invitations and Stationery, 2% – Officiant and Music, 2% – Transportation, 2% – Wedding Rings, 2% – Favours and Gifts.
Make sure that you prioritise what’s important to the two of you
Now is the time to consider what your three absolute must haves (aka non-negotiables) are! When imagining your wedding, what are the details that really stand out in your mind? Is that what you’re wearing, the flowers, the music, the photographs, the venue or location?
Discuss this with your partner, agree and prioritise three areas where you want to allow yourselves to splurge a tad more. Then you’ll need to work out what the absolute most you can spend in these areas will be.
Remember: “When it comes to your wedding budget, if you splurge in one area, you’ll have to save in other areas— or you’ll go over budget!”
Tip: Now is the time to do some research! Find out what you can expect the average costs to be in your chosen destination by talking to local vendors.
Consider where you can save
You’ve prioritised the must haves. Now you you need to un-prioritise the could live withouts.
Now you have set expectations of where the bulk of your budget will go, you may need to compromise on the venue, the number size of the cake, or those Manolo’s (sorry!) to make room for that unbelievable videographer you want, or that amazing Es Vedra view? You may even want to consider getting married out of season which could potentially bring the costs down considerably or if you’re willing to cut your guest list, you can really make an overall saving on your wedding budget.
Tip: Speak to your Wedding Planner for creative ways to cut
There is no one better at working magic with a wedding budget than a wedding planner
NO ONE. By now you are likely to have found a Planner, and if you haven’t I would strongly suggest you do. Your Wedding Planner is your wedding budget fairy godmother. Not only are they s**t hot at bending budgets, but they have contacts. They will know everyone in your wedding location to get you the best deals on everything, and if they can’t get you a better offer, they can offer you creative ideas on ways to narrow your costs down.
Maybe instead of roses in every bouquet, just the bride will have some roses, whilst the bridesmaids will have some other complimenting wildflowers to hold or, if your planning to have elaborate chair decorations, maybe just the bride and groom’s seats will have elaborate dressing whilst the rest have something more smile in keeping with your desired style. The possibilities are endless. And incase you are considering cutting on a planner… consider this wisely, as no one will be more roofless about not going over budget than someone who’s wedding it is not! 😉
Stay Organised!!
Don’t runaway from your budget!! Creating a wedding budget may be a nice idea, but it’s meaningless if you aren’t keeping tabs on it. Whenever you spend any money on your wedding, record it! Planning a wedding and staying within budget is a game of give-and-take, but if you prioritise and keep organised, you can have an amazing wedding without going bankrupt. Download my FREE Wedding Budget Planner which gives you a clear guide on approximately how much you should be spending on each aspect of your big day, and helps you keep tabs on what you’re actually spending too! #StayOrganised
DOWNLOAD MY FREE WEDDING BUDGET PLANNER
If you haven’t found a Planner yet, I’d be delighted to hear from you. I offer my services in Ibiza, Formentera, Mallorca and the south coast of Spain. Get in touch to find out more about how I can create a dreamy wedding day (within-budget) for you!