Grab a coffee or a butterbeer, this is going to be a long one!  Today we are talking about how to break down your wedding budget.  Creating a wedding budget can be confusing and overwhelming to say the least.  Even if you are a budget savy, finance minded person, unless you work in the event planning profession, taking on this task can be intimidating.  And the internet does not make it any easier.

Everywhere you look, someone is throwing numbers at you of where you should spend your wedding dollars, and they are all telling you something different!  From The Knot to Wedding Wire and everyone in between.  These are supposed to be two trusted names in the wedding industry, and they can’t agree on how much you should spend on a Wedding Planner.

But, have no fear.  A wedding budget doesn’t have to be that scary.

First things first, you need to determine what your wedding budget will be.  Once you have your wedding budget, you can set a rough estimate of how much of the budget you would like to spend on each part of the wedding.  (For tips on creating a wedding budget, see: How to Create Your Wedding Budget.)  Before we start making estimations, lets look at where couples are currently spending their wedding budget.

I am using Maricopa County, Arizona as my example below.  You can get information customized to the city you plan to have you wedding in at www.costofwedding.com.  This site shows the average couples spend on their wedding and for each category of the wedding budget.  It also gives gives you information on how much to expect to spend for the number of guests you will have.

As of 2016, the average wedding in Phoenix cost was $29,261.  Let’s look at the breakdown.

• Venue, Catering, & Rentals – $13,551 (46%)
• Jewelry – $4,543 (15%)
• Photography & Videography – $3,231 (11%)
• Attire & Accessories – $1,760 (6%)
• Flowers & Decorations – $1,854 (6%)
• Entertainment – $1,429 (5%)
• Planner/Consultant – $1,016 (3%)
• Gifts & Favors – $843 (3%)
• Invitations – $865 (3%)
• Beauty & Spa – $163 (0.5%)

If you budget is less than $30,000, you may be thinking, “Ok, I have percentages, let’s apply that to my budget.”  That is good in theory, but does not always work.  Lets take $10,000 as an example:

• Venue, Catering, & Rentals – $4,600
• Jewelry – $1,500
• Photography & Videography – $1,100
• Attire & Accessories – $600
• Flowers & Decorations – $600
• Entertainment – $500
• Planner/Consultant – $300
• Gifts & Favors – $300
• Invitations – $300
• Beauty & Spa – $50

At first glance, this budget looks fine.  But the truth is, you may have trouble finding a Photographer for $1,100, a Planner for $300, wedding attire for both for $650, or someone to do hair and makeup for $50.  And even more, you and your future spouse may not particularly care about some of the things on this list, or maybe you care more about some things than others.  Maybe you would feel fine serving cake and punch or maybe your are a foodie and could not imagine spending only $10 per person on a meal.

The BEST way I have found to plan your wedding budget is to look at what you and your future spouse value.  This is how my husband and I figured out our wedding budget.  This also gave me great insight into what he wanted out of our wedding day (other than me as his wife!).

Step 1: Imagine your wedding day.

With your future spouse, close your eyes and imagine your wedding day.  Where are you?  What do you see?  What are you wearing?  Tell each other and write it down.  This is going to be the jumping off point of what is the most important for you.

Step 2: Rate Everything!

Individually, rate each category the wedding budget on how important it is to you.  You can use a scale of 1 – 5, or simply important or not important.

• Venue, Catering, & Rentals
• Jewelry
• Photography & Videography
• Attire & Accessories
• Planner/Consultant
• Entertainment
• Flowers & Decorations
• Gifts & Favors
• Invitations
• Beauty & Spa

Step 3: Discuss

Items that you both have rated as important should be where you should put a lot of focus.  I am saying focus instead of your budget, because this may be something you put more effort into rather than more money into.

Items that you both have rated an not important shouldn’t have a lot of your focus.  You may be able to get rid of that item all together if you so choose.

Easy right?  Wait, what about the items we rated differently?  This is the time to discuss why each of you has rating the item differently.  Maybe the other has a great reason for wanting and item, and you change your mind.  Maybe you still disagree.  That is totally fine.  Agree to keep those items in the ‘grey’ area.  Something that you will focus on, but not put all of your focus on.

Other Funding Sources

If you are paying for the wedding yourself, the buck stops here.  I am sure you will take into considerations the feelings of your family members and close friends, but ultimately this is your day.  You get to make the decisions on what is happening and where your money is spent.

If others are helping to pay for your wedding day, you will also need to take their wants into consideration as well.  Doing this exercise will give you the talking points needed to navigate these waters.  “Mom, I understand that you want a large wedding cake.  (Future Spouse) and I do not like cake that much, and would rather spend that money on hiring a good DJ that will ensure everyone is dancing and having a good time.”  And if you can, at all times offer a compromise!  “Do you have a friend or co-worker who would be willing to bake a cake for us for the wedding day?  That way we can still have a cake but also spend our resources on a DJ?”

Putting It All Together

So now you know what is important to you and others that are helping to pay for the wedding.  You also know approximately how much everything involved in a wedding will cost.  Now you just have to put it all together to find your customized wedding budget.

Start with the items that have been ranked as high importance.  Look at the average cost couples are spending for that item in your area.  You may also want to research local vendors and their prices so you can get a better idea of what an experienced professional offers vs the average vendor.  Write down the price and name of any vendors that you like.  This should give you a good idea of what you want to spend in this area.  Write it down!

For Example: Wedding Photography

• Total Budget – $10,000
• High Importance to Both
• Average Cost – Between $3,042
• Online Researched Pricing – Packages starting at $1,500 – $3,000
• Budgeted Amount – $2,250

But wait, with a $10,000 budget, the normal percentage only a lots for $1,100.  That is true, but this method works, I promise.  A wedding budget is not something set in stone, but a work in progress.  You will be able to find the savings else where in the budget to make this adjustment.  For example, you may decide to hire a non-traditional wedding caterer and spend only $10 per person vs $35.  Or maybe your grandmother is sewing your wedding dress, so you can use that money elsewhere.  Or maybe your parents have an acre of land with a beautiful landscape for you to get married at so you don’t have to pay for a venue and can use these savings to pay for an amazing photographer!

Once you have done this with each category, you may need to do some final tweaking to get the totals of each category to match up to your wedding budget.  I believe in you, you can do this!

But Everything Still Costs More Than My Budget!

If you are not spending the average ($30,000) on a wedding, you may run into this issue.  Now is the time to get creative!  Think outside of the box.  Can you host the reception in someones back yard?  Then you only have to pay for rentals.  Do you know someone who has an extensive song collection and speakers that can play DJ for the night?  Do you have a friend that does make up and would be willing to do the bridal party make up as your wedding gift?  Can you or someone you know DIY bouquets, boutonnieres, and centerpieces with wholesale flowers?

 

There are so many different ways that you can work with your budget.  The important thing is recognizing when you can realistically get creative and when you need to just throw money at something.  (Believe me, you will eventually throw money at things.)  If this is all too overwhelming for you (in honesty, it is overwhelming), maybe the first thing you should ‘throw money at’ is a wedding planner!  One of the wedding planners job’s is to help you break down your budget and find amazing vendors within each budget.

Want more tips for creating an amazing wedding day?  Click here for more Wedding Tips!