Creating Your Wedding Budget
You’ve said YES and now the planning begins! It’s only natural to want to jump into the fun stuff like dress shopping, selecting your bridal party, venue selection, décor, etc BUT if you read our blog from last week, you know there are 3 important task you should complete prior to jumping in; meet with financial contributors, set a budget and begin interviewing Professional Wedding Planners.
Continuing with our "Wedding Planning Basic" blog series, we will be discussing the hated "B" word today......budget!
How much do I really need for my wedding?
The average wedding in the U.S. cost approximately $32,000 but that amount varies depending on your region. The largest expense of your wedding budget is usually allocated to the reception cost at over 40% of the total budget. I say this so you can be mindful of your guest count. The higher the guest count, the higher the reception cost.
Be honest with yourself! While the $100,000 wedding you watched on the latest bridal reality show may match your wedding dreams, it may not match your pockets! I have said this before and I will say it again, creating a budget is one of the most difficult task in the wedding planning process but one of the most necessary!
Manage Your Budget
It’s not enough to just set a budget! Your Professional Wedding Planner or assigned budget monitor should be managing the budget to actual cost. If you happen to go over budget in one category, you will need to decrease your allocated amount in another area. Good budget management will keep you on track and eliminate the last minute stress of unexpected expenses!
Want to know how your budget allocates to the various wedding planning categories? Use our interactive budget calculator below to see if your dollars make cents. (see what I did there lol)
For your convenience, you may download our budget template to your computer or smart phone device.
Please note: This template is to be used as a guide. The "Standard %" amounts are based off of our research of industry standards and may have slight variances to other budget templates.
We'd love to hear from you. Drop us an email today and let us know how the budget template worked for you!