Planning a wedding is a joyous journey filled with love, excitement, and the promise of a beautiful future together. However, amidst the flurry of venue tours, dress fittings, and cake tastings, it's crucial not to overlook one of the most critical aspects of wedding planning: the budget.
Creating a comprehensive budget and understanding your financial landscape is the cornerstone of a stress free wedding planning process. Before you sign any contracts with vendors, take the time to sit down with your partner and assess your financial situation. Here are some essential steps for couples to take before diving into vendor contracts:
1. Have the Money Talk
Sit down with your partner and have an open and honest conversation about your finances. Discuss your individual incomes, savings, debts, and any financial commitments you have. Transparency is key here, as it will help you both understand your financial standing and set realistic expectations for your wedding budget.
2. Determine Your Contributions
Once you have a clear picture of your financial situation as a couple, it's time to determine how much money you have available to contribute to your wedding budget. Consider any savings specifically earmarked for the wedding, as well as any contributions from family members. Be sure to account for any financial assistance you may receive from parents or other relatives.
3. Set a Realistic Budget
Based on your combined contributions and any financial assistance from family, set a realistic budget for your wedding. Remember to allocate funds for all aspects of your wedding, including venue rental, catering, attire, photography, entertainment, and miscellaneous expenses. Use online budget calculators or consult with a financial advisor if you need help creating a budget that aligns with your financial resources. I would add 10% contingency to the budget just in case you fell in love with the dress, the florist or venue.
4. Prioritize Your Spending
Not all wedding expenses are created equal, so it's essential to prioritize your spending based on what matters most to you as a couple. Sit down together and discuss which elements of your wedding are non-negotiable and where you're willing to be more flexible. This will help you allocate your budget more effectively and ensure that you're spending money where it matters most to you.
5. Research Average Costs by Percentage
Before you start signing contracts with vendors, do your research to understand the average costs and what that percentage on the wedding looks like for services in your area. Keep in mind that prices can vary widely depending on factors such as location, season, added value and the level of service provided.
6. Browse Wisely
Many vendors are willing to work within your budget or offer discounts for off-peak dates or bundled services. Be upfront about your budget constraints and don't be afraid to walk away if a vendor isn't willing to negotiate. Also don't set yourself up to fall in love with a venue, service or item that you know is out of your budget. There are plenty of wedding vendors
so don't settle for anything less than what you can afford.
7. Review Contracts Carefully
Before you sign any contracts with vendors, carefully review the terms and conditions to ensure that you understand all the details. Pay close attention to payment schedules, cancellation policies, and any additional fees or charges. If there's anything you're unsure about, don't hesitate to ask for clarification or seek advice from a legal professional.
By taking the time to assess your financial situation, set a realistic budget, and research your options, you can approach the wedding planning process with confidence and peace of mind. Remember, your wedding day is just the beginning of your journey together as a married couple, so focus on creating memories that will last a lifetime without breaking the bank. Happy planning!
This is a great example of a budget guide. Lets say you have 20k for your wedding which is less than the average. You can see that 55% is allocated to the ceremony and reception. Since this the biggest percentage I would look at what added value the venue has and what the costs look like. After chatting with the Burrow Warehouse team you will hear about the massive amount of decor and props available to use for free as well as an in house floral division called Stem Lounge.
What does this look like now? 65% of the budget is 13k
What if we told you that 75% of your budget is attainable in our inclusive packages? This is why couples LOVE IT!------------------> and STRESS FREE!
13k-$5500 venue + ceremony = $7500 remaining
All decor, arbors, chairs, tables and so much more is included for FREE
Average catering $27 per person at 150 guests = $4050
Added the DOC $1200
Cake -$300
Linens- $400
Flowers- $1200
Balance $350 <-------- before alcohol ( I type this to say that maybe your quest count should decrease. Dropping 25 guests gives you $675 more dollars just on food and not linens or florals.
