Planning a wedding entails multitasking nothing else. You need to pay attention to every little detail and make sure everything is perfect, just like you imagined it. But turning your wedding dream into reality also involves a not-so-fun part of budgetary considerations.
So, how do you stick to your budget while planning your dream wedding? This wedding budget breakdown offers some pointers on planning a gorgeous wedding without burning through your savings!
How Much Does The Average Couple Spend On A Wedding?
According to a 2019 study conducted by The Knot, the average cost of a US wedding is $33,900. This figure includes the engagement ring but not the budget for the honeymoon.
However, on average, a couple would typically spend between $23,000 and $25,000 on their wedding. But, most budgets get stretched to about $30,000 with last-minute expenses.
Ideal Amount Of Money To Spend On The Wedding
Every wedding is unique. So, the amount of money that you and your partner should spend on your wedding will depend on several factors since there is no universal budget to stick to.
Every couple has their own style, approach, and vision for their wedding. But, most couples set a budget of $20,000 minimum while the sky’s the limit for the upper range. So, if you’re willing and have the budget, there’s no stopping you.
But if you want to take a more practical approach, you should work on a lower budget while including every single aspect of your wedding so that you still have some wiggle room for last-minute expenses.
Don’t give in to any pressure, comparisons, or expectations from others. It is your wedding, so as long as you and your future spouse are happy and 100% agreeable about your budget, that budget would be ideal for you.
Is 5000 A Good Budget For A Wedding?
Yes, $5,000 is a reasonable budget for a wedding. However, since it’s a relatively limited budget, you will need to be more practical about your choices.
This amount can work so long as you plan carefully, are resourceful, and have a realistic approach. An extra set of hands (or two or three) can also come in handy since you would likely have to do most preparations yourself.
Wedding Budget Breakdown: What You Should Consider
Having a wedding coordinator is, of course, an ideal option if you have the budget for it since you have one person in charge of taking care of every single aspect of your wedding.
But if you are on a budget and are more hands-on involved in your wedding planning, then there are certain important factors you should take into account when budgeting.
Not really a top priority, but alcohol is an obvious money pit during weddings since your guest would like to let loose and celebrate. You will have to decide whether you’ll be having a cash-only bar or an open bar as well as the variety of drinks you can afford to offer.
This is one of the most important parts of any wedding. Will it be a full meal? Buffet or plated meals? Will children have a separate menu from the adults? These are just some of the questions you need to take into account as they will all impact your budget.
You want to provide delicious food and ensure that there is more than enough to go around. You will also have to be mindful of food allergies and preferences and budget accordingly.
A bulk of the wedding budget always goes to the venue. Part of deciding the venue will be the amenities it offers. Will there be complimentary accommodations, and how many hours are allotted for the preparation and actual ceremony?
If you have a limited budget, you can consider a friend’s place or a local events center as options. An empty auditorium or an open garden can be transformed into the best wedding venue if you have the right decor.
Flowers are an iconic part of any wedding. The budget for your flowers will include the blooms you will use in the wedding venue, some pieces to make your reception livelier, and the bridal bouquet.
Don’t forget to count for the female entourage’s mini bouquets and the boutonnieres.
The bride’s wedding dress and the groom’s suit typically have a dedicated budget that is separate from the overall wedding budget.
As for the outfits of bridesmaids and groomsmen, a more practical approach embraced by many is sending out fabric samples of acceptable colors. This allows the wedding entourage to choose dresses that suit them and that they can use even after the wedding. Just make sure you clarify the acceptable designs and cuts that you’d like.
You can hire professionals to provide entertainment or make your wedding a more intimate affair by having friends and family showcase their talents.
Make sure you ask around if anyone is willing to perform as this can also be a thoughtful wedding gift.
Will you need to hire a couple of vans to ferry your guests from their accommodations to the wedding venue? Or are you hosting a destination wedding, in which case will you be flying your entire entourage to your wedding destination?
This needs careful planning. So, if you are looking into a wedding that will not be local, where most of your family and friends live, it can be an overwhelming wedding expenditure.
Don’t forget to include parking fees or the cost of renting a parking lot for your wedding day.
Most wedding photography packages include pre-nuptial shoot and video and on-the-day capture and video editing. Most professionals will also provide you with a USB and cloud access to the pictures, both raw and edited, so you can browse or print the shots you love.
Some even include a hard-bound album that you can keep as a souvenir. This is one wedding expense that is best left to professionals so that your special day is perfectly captured.
Miscellaneous expenses can often be overwhelming and can be both controllable and out-of-the-blue expenditures.
The bridal shower and stag party, lunch or dinner meetings with the coordinator and suppliers, crew meals, LED projectors, and other last-minute requests to the wedding are just a few examples of miscellaneous expenses. You will need to set a budget for these surprises, too, so that you are not caught off-guard.