Whatever your budget you need to manage this effectively to ensure that you don’t spend too much money on one specific item, as well as keeping track on what you are spending. Finances maybe boring, so I’ve put together some tips and advice to help get you started.
Before you can start planning your wedding, you need to know your budget. Don’t assume that your parents will pay for everything, where some families do still do this, it’s important that you have a serious and grown up conversation about how much they can afford to contribute, whether the groom’s family are contributing towards the wedding and how much you can afford to save and budget.
The catering and venue for the wedding will take up approximately 45-50% of your budget, therefore the less people on the guest list, the easier it will be to reduce your costs and keep within budget.
When sourcing quotes from venues and suppliers, make sure you shop around, I would recommend getting around 3 quotes for each supplier and ensure you ask what the quote includes, for example, delivery and set-up, VAT and note down the quote that includes everything so you don’t receive any additional surprises when it comes to paying.
What’s important to you?
On average people may spend 5-10% of their budget on flowers, however if you love flowers and want them to be a big part of your wedding you may decide to spend more of your budget on beautiful flowers. Perhaps it is important to you to have beautiful photos to capture memories of your special day, whatever it is, decide what is important to you and what you are not willing to compromise on. Also decide what is less important to you and where you can potentially save money.
If budgeting and spreadsheets aren’t really your thing, buy yourself a cute a little notebook to record all your quotes and outgoings. Keep it in your handbag and you’ll always have it handy to refer to when you’re out and about. I would always recommend to budget for miscellaneous items, just in case you forget something you have a pot of money to dip in to.
One problem I often hear from couples organising their wedding is that they aren’t sure how much money to allocate to certain things. I have created a short list below with a percentage of how much of your budget you need to allocate:
Ceremony - 3%
Venue, food, cake - 48%
Attire - 10%
Rings - 3%
Flowers - 8%
Music - 8%
Photography - 12%
Transportation - 2%
Stationery - 3%
Miscellaneous/other - 3%