Why Is The Wedding Budget So Important?
When it comes to the Wedding budget, it is one of the most stressful parts of planning your wedding, but it is also one of the most important things you need to do.
Like most things in life, we have to budget for a wedding. And setting a budget will help you to stick to what you want to spend, and hopefully avoid the stress caused by going way over budget.
But budgeting for your wedding is never easy. And some couples set their budgets too low, and end up spending more than they budgeted for.
Is this because they did not research the costs for what they want, or are spending money on things that do not end up getting used or changing their minds with suppliers after they are booked.
Any of these reasons can cause the wedding budget to be so much higher than what you expected.
How to set your budget
Before you start any of your wedding planning or look into hiring a wedding planner, you really need to have an idea of what you want your budget to be. But at the same time, you need to be realistic about your budget, as weddings can be quite expensive, especially if you want all the trimmings
My advice to you, especially if you’re going to hire a wedding planner is to have a minimum and maximum amount for your budget. The reason for this is that it gives you and your planner (if you are having one) room to move with the costs of your budget. It also allows for any unexpected costs that might come up, such as inviting more guests at the last minute.
Once you know your budget, you and your partner will be able to sit down with your wedding planner or on your own and break the budget down.
Remember a budget is a guide to help you, you may still go over your maximum amount, but if you do your research first and overestimate on things you have a better chance of staying within your desired amount.
Working out your Budget
Before you work out your budget, you need to know your financial situation.
Only you and your partner know what you can and can not afford. Here are some questions you need to ask yourself:
- Have you saved money to put towards your wedding?
- Are your parents contributing anything or are you both doing it all yourselves.
- Is any money being put aside while planning your wedding?
- When have you set your date to get married?
These four questions will help you better determine what you can set your budget at. And if you have parents that are helping you with the cost of the wedding, make sure you know what their budget is also.
Breaking down your budget is pretty straightforward, but can also be pretty stressful as you need to work out how much you want to spend where.
As a wedding planning, I can help your work all that out with you and keep you within your budget.
But if you don’t have a wedding planner and need to work out your budget yourself, follow the 3 quote rule:
- Source 3 suppliers in each industry.
- Get a quote from each one.
- Work out which quote fits in your budget best.
- Use this quote for an estimated cost only.
- Overestimate on things.
- Determine between a need and a want.
Now I say use this as an estimated cost only as you may not be ready to book that supplier yet, or you haven’t settled on the suppliers you want to hire for your wedding.
But this will give you an idea on cost for your wedding budget and will give you a guide to go on, but please bear in mind prices for suppliers may change when it comes time to book them.
Or that supplier may not be available so you will have to find another. Just another reason to overestimate your wedding costs.
Sticking to your budget.
The only way you can really stay within your wedding budget is to stick to it. And sometimes it can be hard. For example; you may have budgeted for a $700 wedding dress, but fell in love with one that is $1000.
Now I know we all want that dress we fall in love with, so how do you get around spending an extra $300 for the perfect dress.
Firstly do not just react and jump in the deep end, purchasing the first dress you fall in love with. Shop around. Make a list of each dress you love and the store it’s in, along with the price. Take photos of them on you so you and the girls can go and look at them later on before making a decision.
Now once you have done all that and you find that, that $1000 dress is the one you most definitely want. Then you need to redo your budget. Talk with your partner and work out if there is a way to be able to fit the cost of the dress into your wedding budget.
Ask yourselves, is there something in the budget that is going to cost you less than you estimated for. If there something in your budget that you decided that you do not want any more. Is there something you can get cheaper or can do yourself. Or is there something in your budget that you can cut out as it is not really that important.
So how much does a wedding cost on average?
I did some online research to find out what couples in Australia are spending on their wedding budget during 2018. And below is what I have found.
Going by a survey that was conducted by Easy Weddings for 2018 here is the costs of the average wedding.
This will help you get an idea of what other couples have been spending on their weddings
Budgeting for a Wedding Planner
You also need to budget for a wedding planner if you are looking at hiring one as well. And wedding planners can cost a bit (more about that in another blog), but at the same time hiring one can also save you money.
Now you are probably thinking how is a wedding planner going to save you money…Well when you are planning your wedding yourself you a flying blind, or only have the help of friends and family to help make some decisions. But a wedding planner can help you find the right vendors and avoid you spending money on things for your wedding that you don’t end up using. And in some cases, depending on the vendor, we can also get you some good deals and save you money that way as well.
There is something else a wedding planner can help with when it comes to the budgeting side of things, and that is the stress and strain on a relationship. Money is one of the biggest causes of arguing between couples, and although a wedding planner cannot stop this, we can help keep you on track with your wedding budget to help reduce this tension and finical worries.
I have been there before, and so have many other couples. And when you are trying to stay within a tight budget for insistence, it can cause issues if you are always going out of the budget. So, our job is to help you stay within it as much as possible. But to also let you know right from the start when setting your budget, you need to be realistic for what you want and what you can afford.
By working out your budget right from the very beginning and knowing exactly how much you have to spend on each supplier, your venue and other wedding items, you and your partner will have a better chance of having a more enjoyable and relaxing wedding planning experience.
If you are a couple that is looking at a really tight budget for your wedding, or you just want something small and cost-effective. Be sure to check out my blog post on “How to plan a wedding on a budget.” This will give you some tips and ideas on how to keep that budget down.
And if you haven’t already done so, be sure to subscribe to my website to get your free wedding planner guide. This contains a budget for you to fill in and keep track of all your wedding costs.
Do you have any budgeting tips that you have tried and would like to share with other couples that are planning their wedding. Please feel free to share them below.