If you’re not actively in the wedding industry, you may be unaware of how costly a five-hour wedding can be. Unfortunately, prices have only increased since COVID, and expectations are low that these costs will ever go back to their normal rates.
When discovering the costs of your venue and additional vendors, you will most likely be blindsided. It’s a lot to take in, but that’s okay. I am here to help!
Wedding Budgeting: Where Do You Start?
The very first question I typically ask my clients during our consultation is, “What is the total budget you are looking to spend?”
Based on the couple’s initial answers, I can immediately tell whether they’re aware of the current average cost of a wedding.
For example, if my client wants to invite 150 guests and has a total budget of $10,000 for their wedding, I know they have not done any prior research.
Managing Budget and Wedding Expectations
When it comes to weddings, you get what you pay for. For example, if you want an experienced and highly qualified photographer, you will have to pay your talent accordingly.
That’s why it’s crucial to set a budget ahead of time. The smartest thing every couple can do is make planning their budget the first step of wedding planning.
If you are only committed to paying $10,000 for your wedding, that is fine, but please do not have all the expectations you initially set. Discussing budgets and pricing with my clients is my least favorite thing to do but it’s also one of the most important tasks. As much as I would love to give my clients their dream wedding on a budget, it’s just not possible in most cases.
Tips for Constructing a Reasonable Budget
If thinking of a total number is hard for you to do, I suggest breaking it down into pieces. How much do you want to spend per plate? What is your budget for each additional vendor? How much do you want to spend on décor?
Creating a budget spreadsheet is extremely beneficial and something that I do for all my full planning clients. Sometimes, clients also have family members that are willing to chip in for their budget. Again, this is something families should discuss early on because it could expand the overall budget.
How Wedding Budgets Benefit More Than Your Wedding Day
In addition to helping immensely with the wedding planning process, budgeting also helps couples later in their marriage and in life. Most couples are not used to talking over financial issues and budgeting together. Setting a budget for your wedding helps lay the groundwork for how you will approach financial decisions moving forward.
Why You Should Consult With a Planner To Build Your Budget
I might be a little biased, but getting a wedding planner is the best decision you can make from a budgeting aspect. A great wedding planner, like myself, will help you focus on your total budget and keep track of every expense for you. Budgeting is not fun—we all know that. I wish we all could just spend endless amounts of money with no consequences.
Regrettably, that will never be the case, which is why having a wedding planner help you budget is so crucial. Have you established your budget yet? If not, what are you waiting for?