By Eric Hause | Publisher, Coastal Carolina Bride Magazines
Quite often, I get inquiries from brides who have the most outrageously impossible budget numbers in them. It’s true that most people don’t plan their own weddings multiple times, so the learning curve for most brides is steep and merciless. But when I see brides-to-be with a total wedding budget of $5000 for 120 people, I do a double take.
When most brides become engaged, they immediately entertain grand visions of their wedding—and they should! It is, after all, the most special day of a new couple’s life.
But as is human nature, there is often a huge disconnect between fantasy and reality. In fact, most weddings go over budget by 45%. So go ahead, envision your ideal wedding. Then sit down with your groom, parents, and any other folks involved in making budgetary decisions for your wedding, and plan logically. Approach your wedding budgeting as if you were running a business.
There are numerous wedding budgeting resources available online for free, so I won’t go into those here. I will, however, offer some general guidelines for determining what different aspects of your wedding will cost.
One of the most realistic methods of calculating the true cost of your dream wedding is to follow these steps:
1) Create a checklist of all the items in your dream wedding vision (a good comprehensive list is found here).
2) Assign a preliminary budget amount to each item. Keep in mind that you may have some items on your list that will be less expensive than others. For example, you may decide to go with casual beach wedding attire as opposed to a formal, full-on designer wedding gown.
3) Get estimates from your preferred vendors for each of these items, then assign an over or under amount to each item on the list.
4) In the end, if you are over your budgeted amount, it’s time to make some realistic and often difficult choices. One of the ways to make these choices without going crazy is to think of your wedding as consisting of element “groups,” each group traditionally accounting for a percentage of wedding cost.
5) Your reception is by far the most expensive element group of your wedding day. Generally, the reception accounts for 50% of your total wedding budget and includes items such as venue and rentals, food and service, beverages, and cake. A sit-down plated dinner can run anywhere from $25 to $60 per person. Buffets, on the other hand, can be substantially less. Also, if you plan to host an open bar for your guests, you can plan on anywhere from $20-$40 per person.
6) As a rule of thumb, these wedding element groups will run about 10% of the total budget. This includes:
- Your wedding attire
- Flowers and décor
- Photography and video
- Music
Other elements of your wedding can come in at an even lower percentage of your budget and include:
- Ceremony and officiant (2%)
- Wedding party gifts and favors (3%)
- Invitations and postage (2%)
- Wedding rings (depending on your taste!) (2%)
- Transportation (1%)
7) As you go through this process, you’ll find that your wedding elements fall into one of three categories: must have, don’t need, and can go either way. Scratch through the “don’t need” items and budget amounts first. Recalculate the total, and see where you are.
8) If you are still over budget, you can take funds from the “under budget” items on your list and reassign them to the “over budget” items. Or decide if you can afford to boost your budget to accommodate the remaining items. If not, then you’ll have to make more tough decisions about the “can go either way” items.
10) If you are under budget, congratulations! Get to planning! And be sure to share this budget list with your planner.
A logical planning approach to your wedding budget will ensure extra joy for everyone involved in your wedding day.