How to Create and Manage Your Wedding Budget

Your fiancé just proposed and now you are sitting down making your wedding plans. You quickly realize while looking at the details that need to be made and the cost involved that this will be the biggest party you two will ever throw in your life. You have a vision of your wedding and a budget expectation of how much you want to spend.  Some points you might not have thought of are discussed by Jamie from Copper and Cotton, who is sharing practical wisdom on How to Create and Manage Your Wedding Budget.

The budget is probably one of the biggest concerns my clients have when we start planning their wedding. It’s so hard to know how much a wedding will cost, and comparing yours to someone else’s may be comparing apples to oranges, because of many factors. There may be an affordable supplier for the table numbers they got, or maybe they chose a photography package of only 6 hours, when you know you couldn’t settle for fewer than 8. Judging your wedding by someone else’s budget is not an accurate way to guess costs. So what is?

Let’s break it down.

Photo by Dan & Erin Photocinema

You can start from one of two places. Either you already have a set number of dollars available to you and you divvy it up from there, or you set a number based on guest count and adjust depending on what you want at your wedding. Here’s a basic rule of thumb for the current wedding market in Phoenix, Arizona. The average wedding of 100 guests will cost around $25,000 and the average wedding of 200 guests will be around $50,000. You can do the math from there based on your guest count.

Now, before you gasp in shock, let me remind you that it’s a rule of thumb. The numbers can vary greatly, depending on you. I have planned a 150 guest wedding for $80,000 and I have planned a 100 guest wedding for $10,000. Those are extreme examples, but the rule is generally a good place to start.

Once you have generated a guest list, pare it down. No, seriously. Weddings will almost always cost more than you think they will and the most effective way to get the cost down is to lower the guest count. Each person will cost you a meal, a fork, a glass, a chair, etc. and that starts to add up very fast. Now, if you find yourself saying, “But the people are the most important part! I have to have them there for the most important day of my life!”, then great! I agree, the people in my life are what matter most to me. Just remember that as you begin planning and understand that you may need to compromise in some areas in order to stay within budget and still get everyone there.

Use a Wedding Budget Calculator

Now you have your guest count and your total wedding budget. Many websites designed for engaged couples will have a “Budget Calculator” feature. You can even just Google “Wedding Budget Calculator”. Feel free to use this as a starting point. This is where you begin to think about what’s really important to you. Is it creating the atmosphere that evokes a certain feeling? Allot a little extra toward décor and entertainment. Is it photography (obviously, since you’re here)? Then give some cushion so you can afford the photographer who really gets you (and will do a really stellar job). As you allow more for the priority categories, remember to go easy on the other ones. For instance, if you raised the number allotted for Photography, take that from somewhere that isn’t an absolute must-have for you, like favors or fancy transportation. Continue to adjust the numbers to accommodate your priorities.

Understanding the ranking of what is really important to you and what you can live without will be one of the biggest factors that will help keep you within budget. If you try to get the best package, product and service in every category, you WILL go over budget. If you can be frugal in some areas, you will have more freedom to get the pieces that will really make a statement. This is also how I counsel my clients to plan within each category. You went with an average flower budget? You can still have a “wow factor” wedding if you focus on the priorities, or focal points. For instance, do a big beautiful arch and go easy on the aisle, then make a fantastic arrangement for the sweetheart/head table and do centerpieces of varying heights and fullness on different tables. You don’t have to go big on everything.

Here is where your planner really comes in handy. An experienced planner will have a working knowledge of the local vendors and products and will be able to look at your budget and say whether each number is realistic for its category, based on your guest count. We can tell you how much each chiavari chair will cost and whether you can get a deal at that venue if you book during the off season.

If you don’t have a full service planner, consider hiring a wedding consultant at an hourly rate to look over your budget. It is a huge benefit to go into planning with a realistic idea of what you can expect to spend, rather than getting half-way through before finding out you have to start scrimping because you blew your budget on whatever came first. You can even ask your coordinator to create the category breakdown from your total wedding budget for you, if this all seems too overwhelming.

Remember to keep track of your spending and adjust the budget as needed, and as you look at contracts, keep in mind that your category budget should include tax and gratuity.

Now, take a deep breath! You did it! The first big step of planning your wedding is complete!

Photo by Dan & Erin Photocinema

Guests Author: Jamie from Copper and Cotton | Instagram | Facebook | Email

Bio: I have been helping couples plan their weddings for 8 years and LOVE IT! My favorite moment in wedding planning is seeing the couple and their families relax and let loose after dinner. Suddenly, they realize everything they have worked for has happened and it’s time to celebrate love! When I’m not planning, I’m either drinking a cocktail with a friend or loving on my hubby and 3 littles.

For more information on wedding budgets or wedding planning, contact Jamie.

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