Setting Your Wedding Budget
From your wedding dress to the exact weather and temperature it will be on your big day, you’ve imagined this day your entire life. Now it’s time to plan the big event, and it all begins with the budget. The absolute hardest part of wedding planning is setting your wedding budget. After all, you may have had a vision since your childhood of how this day will go, but now you have to be realistic to ensure you can afford your dream.
The average cost of weddings in the U.S. is $44,000-50,000 for 145 guests, according to the 2024 Zola First Look Report, and estimates ranging from $30,000-50,000 in major cities, as a U.S. national average, according to this CNN study conducted in 2023. Now, pick up your jaw, and realize that your perfect day doesn’t have to be this pricey. There are many ways to set your wedding budget that allow you to live out your wedding fantasy without breaking the bank.
Here’s our expert advice from over 9 years of wedding planning in the southeast, plus following along some foundational advice from Brides Magazine.
Who’s Paying?
Don’t assume that family or friends will help pay for your wedding. You need to have a clear understanding of who will contribute and how much they plan to contribute. Then, look at your savings and expected savings to determine how much you want personally to contribute.
You may consider getting a credit card to assist with the expense. If you do go this route, try to get a credit card that has no interest for a certain period of time. Another good rule of thumb is to not put more on the credit card than you will be able to pay back in three months. This will help keep you from accruing a mountain of debt.
Who’s Attending?
It’s fun to think about all the people you want to invite to celebrate your big day, but you’ll also need to consider the per-person cost for everyone who is invited. It’s simple. The more people you invite, the more your wedding will cost. A bigger crowd means a bigger venue and bigger cake, more food and drinks, more invitations, more flowers . . . it can add up quickly, even with volume pricing on some items.
What’s Important to You?
You and your partner need to decide what wedding details are important to you both, so you can prioritize your spending. For some, food is hands down the biggest priority. If this is the case, get a great caterer and allocate more of your funds to your food budget. If food isn’t a huge priority, you could do something a little lighter or less hearty so that you can allocate your dollars to areas that are more important to you, i.e., dress, flowers, entertainment, venue, etc.
CUT OUT THE FLUFF
Once you’ve identified your priorities, you can begin making decisions to cut costs. Do you have to get married during the peak wedding season, or could you do it in an off season when the venue is less expensive? Do you really need the five-tier wedding cake, or will a small cake accompanied by a sheet cake or other desserts suffice? Do you have to print invitations, or could you simply email them? Do you have to have alcohol at the wedding? If so, will beer and wine suffice instead of a full bar?
As you can see, there are many variables when it comes to setting your wedding budget, and it’s totally possible to have a dream wedding without breaking the bank