We may not like this, but money does make the world go around. And while they have no connection whatsoever with true love, the truth is that you will need money to plan the perfect big day. This is precisely why planning a suitable wedding budget is so important – especially when you want to make sure that your dream wedding doesn’t come with a high cost for your finances in the first year(s) of marriage.
How do you do it? How do you plan and breakdown your wedding budget? Here are some tips to consider:
- First and foremost, understand that different locations practice different prices. It may be shocking, but the difference between a wedding in one part of the US and one in another part of the country can go as high as a few tens of thousands of dollars. Sure, it depends on what you want for the big day, but it is more than important that you research prices at your chosen location before you do anything else.
- Also, you should know that while there are no standard ways to breakdown the budget, there are some expectations you should have. For instance, the venue will most likely cost something around 40-50% of the entire wedding budget. Flowers will cost 10%, music will cost 5-10%, a planner will cost 10-15%, and so on.
- It is also extremely important that you leave some “cushion” in your budget as well. In general, it is advisable that you leave at least 5-10% of your total wedding budget for unexpected expenses (such as having to pay extra hours for your band or DJ, for example).
- Here’s a basic breakdown of what you can expect to pay:
Reception: 48-50 percent
Ceremony: 2-3 percent
Attire: 8-10 percent
Flowers: 8-10 percent
Entertainment/Music: 8-10 percent
Photography/Videography: 10-12 percent
Stationery: 2-3 percent
Wedding Rings: 2-3 percent
Parking/Transportation: 2-3 percent
Gifts: 2-3 percent
Miscellaneous: 8 percent
- To avoid stress, allot 5 percent of your budget for a “just-in-case” fund.
- Use sites like Wedding Wire and The Knot to help. They both have free budget calculator and forms to make this process a stress free one.
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