Don’t break the bank: follow these simple steps to plan the perfect wedding on any budget
In 2016, the average U.S. wedding cost $35,329, an all-time high in the decade since The Knot started counting. Couples are spending more on personalized experiences for their guests: everything from gospel choirs to live portrait artists.
But with annual per capita income also averaging around $35,000 in the same time frame, budgeting for the big day is a challenge for most couples. Whether you solicit help from family and friends, dip into your savings, or postpone the nuptials until a later date, these tips and tricks can help ease the financial burden of your wedding day.
Set Your Priorities
Before you even start thinking about the budget, talk to your partner about priorities. Sit down together and rank the following items in order of importance. When the time comes to allocate funds, you’ll already know where to be generous and where you can cut corners.
- Ceremony location
- Reception location
- Food and drinks
- Music/entertainment
- Decorations
- Guest list
- Attire
- Media (photos/video)
TIP: Don’t forget to consider pre- and post-wedding festivities, such as the rehearsal dinner, after party, or next-day brunch for out of town guests.
Start Crunching Numbers
Before finalizing your budget, you’ll need to chat with anyone who might be contributing to the wedding: relatives, friends, and your partner. Once you have a total, break out your calculator and get to work.
Start with this simple rule: 50% of your budget will cover the reception (that includes food, drinks, site fees, and any required rentals) and 50% will cover everything else. Here’s how “everything else” breaks down:
Reception: 50%
Ceremony and officiant: 3%
Photo and video: 12%
Entertainment: 10%
Attire: 7%
Decorations: 8%
Transportation: 3%
Stationery: 3%
Miscellaneous (rings, attendant gifts, favors): 4%
TIP: If you’re accepting contributions from family members, consider how involved they’ll be with planning the event. Chances are they’ll expect to have a say if they’re forking over a sizable chunk of cash. One way to simplify things is to narrow the ask: for example, grandma covers the flowers; your parents pay for the food. It’s an easy way to cut down on unsolicited opinions.
Expect the Unexpected
You’ve set your budget—now you have to stick to it. Watch out for these unexpected costs, which often catch couples off guard.
- Tips: Check whether your vendors automatically factor in gratuity, but plan to spend an at least 5% of your reception budget on tips. Don’t forget your stylists, severs, transportation staff, and delivery teams.
- Postage: Between save the dates, invites, and thank you notes, the cost of stamps can add up. Keep this in mind when budgeting for stationery.
- Accessories: Brides may be tempted to spend their entire “attire” fund on the dress, but don’t forget about alterations, shoes, and jewelry.
- Rainy day plan: If any part of the event is outdoors, you’ll need to rent a tent or plan for an alternative indoor location.
TIP: Don’t treat your vendor contracts like the iTunes Terms of Service—read each one line by line. Most vendors advertise their rates before tax and service charges, so be sure you understand the bottom line price before signing anything.
Don’t Despair
Wedding planning on a budget may mean making compromises, but couples turn their dream weddings into reality with a wide range of financial plans. Save money in ways that fit your priorities—stay sustainable in a second-hand gown or ditch formalities for a family-style meal.
Check out these resources for even more tips and tricks:
Wedding Budget Calculator from The Knot
26 Ways to Save Money on Your Wedding from The Knot
50 Ways to Save $500 from Brides
How to Have a Frugally Fabulous Wedding (Free E-book) from The Budget Savvy Bride