How to Manage Your Wedding Budget

Paige Vaugh Photo | Wedding Gallery

For newly engaged couples the planning process can feel like quite the conundrum however we always say the best place to start is with your budget! No matter your number it’s always best to set yourself up for success by openly discussing and establishing your spending power as you begin planning. Taking a proactive approach by establishing your baseline prior to embarking on your vendor search is going to set your wedding planning on the right path from the get-go. Taking this approach will really empower you to prioritize your non-negotiables as opposed to reactively making sacrifices you didn’t anticipate due to overspending.

No matter your location, this blog applies to all couples including our destination wedding couples. One of the biggest misconceptions that we often hear is that a destination wedding is “more affordable”. We’ve actually found that destination weddings are around the same cost as local weddings, if not a little bit more. This is because certain wedding vendor costs stay the same no matter if you’re getting married in a different county…. perfect examples are photography, videography, stationery, attire, and venue fees, which do take a bulk of the budget.

To set you on the right path for your budget management we’ve highlighted our best practices and included the general estimates that we use for budgeting! Remember these numbers serve as a guide but you have the power to move funds around depending on where your priorities lie for your wedding day!

Create a Budget

Everyone has a number! In order to ensure you aren’t disproportionately spending on your venue, you need to go into your search with a solid understanding of how much you’re willing to invest overall. Make sure you compartmentalize your overall budget by category and prioritize allocating more funds for the vendors that rank higher on your priority list. 

Select a Venue

It’s important to proactively assess what your non-negotiables are prior to selecting your venue. IF you select your wedding venue first only to discover it cost more than you should have allocated it becomes a difficult task to stay within budget when you have a long list of other vendors that you STILL need! Remember, there’s a lot more that goes into your venue budget than simply “renting the space”. (PRO TIP: Is catering in-house or will you need an outside caterer? Compare the costs as you not only evaluate the venue space but consider what is inclusive with the venue! No chairs are included? Add that to your rental budget!)

Hire a Planner

Planners are much more familiar with the capabilities of a space! We can not only help guide you with budget allocation but can present you with cohesive options based on your style, guest count, and desired experience! Allowing your planner to take the lead on your venue search and planning will not only significantly save you time and money but also your sanity!

Be Flexible

Your budget percentage categories are not set in stone. They are simply an industry-standard guide on how to best allocate funds. Some couples decide to spend more on their non-negotiables and less on the items they are not as inspired by. You have the power to tell your money where you want it to go!

Determine What is Not Included

Maybe you’ve been gifted funds from a 3rd party or you’ve decided to separate certain categories from your overall wedding budget? Some people choose not to add planner fees, wedding attire, and invitations to their overall budget. It is always important to discuss what is part of your bottom line and what is not. 

Our Budget Formula

The estimates used in the formula are for wedding budgets between $50,000 – $150,000.

Venue | 50% of Budget | $25,000 – $75,000

Ceremony Rental Fee

Reception Rental Fee

Rentals | Tables, Chairs, Glassware, + Tableware

Catering + Bar

Dessert

Floral + Décor | 10% of Budget | $5,000 – $15,000

Ceremony Florals

Reception Florals

Wedding Party Florals

Reception Décor Rentals | Linens Centerpieces

Photography + Videography | 10% of Budget | $5,000 – $15,000

Photography Fee

Videography Fee

Entertainment | 10% of Budget | $5,000 – $15,000

DJ, Live Band + Ceremony Music

Attire + Artistry | 5% of Budget | $2,500 – $7,500

Bridal Hair + Makeup

Bridal Gown + Accessories

Groom Attire + Accessories

Stationery | 5% of Budget | $2,500 – $7,500

Save the Dates

Invitations

Signage

Escort Card Display

Transportation | 5% of Budget | $2,500 – $7,500

Guest Transportation

Wedding Party Transportation

Miscellaneous | 5% of Budget | $2,500 – $7,500