Wedding budgeting mistakes and how to avoid them...
When you think about planning your wedding one of the first things you think of is how exciting and fun it will be and the second thing you realize is how expensive it is going to be. When it comes to budgeting your wedding it doesn't have to be expensive. We have talked to numerous brides and want to share their biggest budgeting tips.
Brides spend about half their budget on the venue, catering and rentals
The largest portion of your budget will to to the big ticket items such as the venue, food (including the cake and alcohol) and rentals such as tables and chairs.
15% Percent: Photography and Videography
Most brides planned around 15% of their budget to capture that special day! This is so important since your wedding pictures will be a special treasure for years to come.
10% Percent: Attire, Hair and Makeup
It's important to budget around 10% for your wedding attire including the cost of your gown plus alterations, shoes, accessoires. Let's not forget the guys since tuxedo rentals will also fall within this category. Most brides add hair and makeup to this category to feel and look their best on their big day!
These 3 categories usually take up about 75% of the budget. The rest of the budget is spent on decor not provided by the venue, a DJ or entertainment, a wedding planner, officiant, invitations,wedding bands and wedding favors for your guests.
What to avoid:
Not distributing funds correctly
In order to distribute funds you should do your research to find out how much each budgeting item is costing in the market you want to be married within. This lets you know what to expect. It's good idea to allot 5% of your budget for just in case something is more expensive than you budgeted for or is not included with your venue package.
Not deciding who is paying for what
It might feel weird but you will need to talk with your families to decide who is going to pay for what. Traditionally brides families had paid for the entire costs but nowadays it is common for the groom's family to help as well. This can be a tough conversation to have so it's best to talk with each family separately. If either side of the family is going to contribute be sure to ask how much so you can add up the contributions to create your budget.
Not setting realistic expectations
In order to keep your wedding budget in check you have to be realistic about costs and stay on top of your budget. It's much easier to control the allocation of funds when you have a realistic picture of the current budget progress at all times.
Not keeping track of spending
Be sure to keep a log to track your spending or use a budgeting tool such as The Knot's Wedding Budget Calculator. Look for hidden costs such as service fees or extra deposits. Don't forget dry cleaning or alterations. Lastly, remember the gratuities and tips for the bartenders and DJ's.
Not saving where you can
Pick out what you are willing to spend a little extra for ahead of time. Perhaps it's if your dream gown is a little more than you anticipated or if a certain photographer is available. Really look over your guest list and determine where you can thin down your costs. You can also simplify your menu and stick with in season items. Go with less expensive flowers and add more greenery.