Figuring out your wedding budget can be stressful, but don't worry -- whether you're dreaming of a lavish hotel affair or an intimate garden get-together, answering these questions will help you figure out what you have to spend to make it happen.
Who's Paying?
Talk with your families about who will pay for what: Some brides' families still pick up the entire tab, but more and more groom's families are participating too. How do you bring up the conversation? For many couples, talking to each family separately is the best way to have truly open discussions. When you do talk, here are strategies for determining your initial budget.
- Ask both of your folks to commit to a specific dollar amount, and then add up all the contributions to create your budget.
- Alternatively, it may be easier to ask each set of parents to finance a particular aspect of the wedding (such as the ceremony, honeymoon, or catering) instead of just committing to a dollar amount.
- Decide how much you two can contribute between now and the wedding. (37 % of the couples we polled say they're planning to contribute financially to their wedding.)
How Much Do You Actually Need?
Just like buying shoes, an apartment, or a pair of jeans, when it comes to financing a wedding, you should figure out how much you need to spend to get what you want. Set your expectations accordingly. Knot Note: The average cost for a 150-person wedding is about $25,000 (higher in urban areas).
- Here is a basic breakdown of what you can expect to pay:
Reception: 48%-50%
Ceremony: 2%-3%
Attire: 8%-10%
Flowers: 8%-10%
Entertainment/Music: 8%-10%
Photography/Videography: 10%-12%
Stationery: 2%-3%
Wedding Rings: 2%-3%
Parking/Transportation: 2%-3%
Gifts: 2%-3%
Miscellaneous: 8% - To avoid stress, allot about 5% of your budget for a "just-in-case" fund.
- If you're paying for your honeymoon yourselves, remember to budget for that as well.
How Much Can You Save?
As soon as you're engaged, start putting aside as much of your income as you can for the wedding. Saving 20% of your monthly income is a good -- though painful -- goal. The longer your engagement, the more you'll be able to sock away.
- Ways to save: Limit your spending on small stuff (renting movies instead of going out; going to Starbucks once instead of twice a day; downloading just the song you love instead of buying the whole CD). These changes will hardly affect your quality of life, but after a year, the extra cash will cover some wedding essentials.
- Make the most of your money: Instead of stashing your money in a low-interest savings account, consider buying CDs or opening a money-market account. The interest rate can be double that of a savings account. Just check the fine print to avoid penalties.
See More: Budget Wedding Ideas
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cwyland
I've been bugging all my relatives that are getting married for their tips. My uncle's wife made all their food (I don't think I'll try that one!). My brother is having family members with notary licenses marry them. My cousin bought cheapie bedsheets which turned out to be much less costly than tableclothes and looked just as nice. So far we recieved heirloom rings from his family, so we only have to pay for sizing, and I'm already a ravenous crafter so I keep my eyes peeled every time I hit Joann's or Michael's.
TruLeeKele
Oh and if you can, have your wedding on a Sunday or a Friday, those days are cheaper typically than a Sat. If you have it on Sunday you can most of the time cut back on the alcohol, which is one of the larger expenses. Also go for more mid-day weddings, so that you dont have to pay for a full dinner. Or you can just put dessert or snack reception on your invites so guests know to eat before or after.
TruLeeKele
I am on a 5,000 dollar budget as well, and I've been a bridesmaid at 3 budget weddings. One thing for sure to do is to ask around. See who you know that knows someone who can do things for you. Grocery stores generally can make nice bouquets and cakes for cheaper than florists and caterers. Cut out coupons for craft stores and take some friends to buy bubbles and other wedding decor that you can get there for cheap. That's all I know so far, just passing it along. Wish me luck!
missclara
We settled on a budget for $10,000. The ceremony cite is at the church we attend and we're just going to make a donation to the church (the priest didn't ask for a fee). As for the reception site, we are planning on having it in a hotels ballroom...most don't charge fees for the rental of the site, just for the food and drinks plus taxes...we find that this way will be a little cheaper than having to find a reception site plus a caterer. And most hotels have packages where they include amenities such as table and chairs, linens and napkins, china and glassware, centerpieces, decorated cake table and head table. This saves alot of time and money.
always&forever2010
We are working with about 500 people (probably less) and so far we have $250. I am checking prices between walmart, and a few magazines that have wedding stuff. I find it cuts back alot if you have an outdoor wedding at a relatives. That is what we are doing. If you use a friend that can operate a stereo and not pay thats good as well. Just burn the songs on to a cd. And my sister is doing the photos. Really good cameras take nice pics and again its free. It is also a good idea to ask the close relatives to bring a dish. Normally they dont mind. So that is how we are cutting back. And it is def worth it.