How to Plan your Perfect Wedding Budget
As wedding and event planners in Chicago and all over the country - one of the biggest wedding planning mistakes we see couples make is not starting their planning process with a budget! Unless you have an unlimited budget for your event or celebration, you need to put pen to paper and plan how you’re going to spend your money. We know money talk and decision making can stress folks out to the point where they avoid it all together. But trust us, the last thing you want is to avoid this very important discussion. Avoiding this topic can lead to indecision, stress and paying for something that may not be a priority! It’s better to set your expectations before you sign a contract rather than being surprised at the amount of money you spent after your wedding! Below are tips to help you plan your perfect wedding budget!
wedding planning budget tips
Research the average cost of a wedding in your area.
Do your research about what it costs to host an event in your area. If you don’t have the time or energy to figure this out - hiring a wedding planner is key. We know exactly what catering, photography, and venues cost depending on the type of celebration, guest count, location and more.
For example, we see couples spend an average of $600 per guest. This generally includes everything (Venue, tables and chairs included in the venue, planner, dj, florist, 3 standard place settings and linens, simple photo booth, 3 passed appetizers and plated catering with 2 proteins and a standard open bar, late night snacks, small couple’s cake, dessert buffet and photographer). You’ll notice that average doesn’t include some higher end items like a 3 tier custom wedding cake, band/live music, lounge, custom activations, performers, grazing tables, upgraded chairs, luxury linens, upgraded glassware and flatware, decor installations (like greenery hanging from a ceiling), a videographer, attire and accommodations. If you are adding in some upgrades, we see around $800 per guest. If you are upgrading everything and including custom design we see $1000+ per person.
I’m sure you’ve heard the old myth that if you tell vendors you’re throwing a birthday party instead of a wedding that they will charge less? This is FALSE! Why? Because they are two completely different animals! Why do weddings cost more than a birthday party? Because weddings are a full day from 9am to 1am. During the course of that day you will have activities like getting hair and makeup done in a hotel, then transporting all of your guests to the venue. Generally rental times are longer because you need to fit in a ceremony, cocktail hour and dinner. And you will be feeding all of your guests and supplying liquor to those gets for the majority of the rental time. You will also need to have tables, chairs, linens and all of the table tops items (china, flatware, glassware) for each of those guests. Plus flowers, a photographer and/or videographer who is there for 8 hours, and your attire. Compare that to a birthday party and you can see that they are two entirely different events. Oh, and birthday parties aren’t usually 6 hours long with ceremonies that need to be flipped into receptions!
2. Set your Guest List
The smaller your guest list the smaller your budget. Your guest list is one of the main determining factors in your wedding budget. 50% of your wedding budget is made up of your venue, catering, rentals and cake. Your venue, catering, rentals, cake and flowers are all dependent on your guest count. On average you should budget about 8% on flowers. If you want to have a 200 person wedding keep in mind you are feeding each one of those guests, providing drinks for each guest, plates, flatware, glassware, cake and a floral arrangement for each table. Ask yourself what’s more of a priority: that you stay in your budget or you have a wedding where you can invite every one of your friends and coworkers. See the paragraph on priorities below for more on this.
3. Gather your resources.
It’s time to source the money for your wedding! Here are some questions you should ask yourself: Are you going to be investing in this wedding on your own? Are you splitting it 50/50 with your partner? Do you have a savings account devoted towards your dream wedding? Are you planning on setting your wedding date a couple of years in the future to save more money? Do you have family who can support?
Do you have a great uncle or parent who has offered to help support you in the past? Did your mom explicitly say she would pay for your catering? If so don’t be afraid to take them up on it! We know how complicated money conversations can be especially with family but if they have offered to help you create your dream wedding - take it!
Fundraise! If you don’t have a family member who has volunteered don’t be afraid to ask. The worst thing that can happen is they can say no. Always start with a specific request. “Hey dad. Would you be open to contributing towards our catering for our wedding? The cost is going to be X. Anything you can help with would be amazing.”
8. Don’t forget the not so obvious expenses!
Keep in mind in addition to the percentages above you will need to plan for such as your wedding favors, your attire, wedding gifts for your party, your rehearsal dinner, your hotel room, breakfast, lunch, vendor meals, vendor gratuities and little details like alternations, flower girl’s dress, jewelry, accessories, and maybe even an after party location. See an example of a breakdown of these potential additional expenses below.
Example of a Budget for Bride & Bridesmaids Fashion
9. Consult with a wedding planner.
If you are feeling stressed out and overwhelmed over wedding planning consult with a professional wedding planner! We know this industry like the back of our hand and can help guide you through the nuances of wedding planning. Contact us for a complimentary consultation. We can answer many of your questions and help guide you!