Before we dive into wedding budgets, allow us to first congratulate you on your engagement! This time should be savored and enjoyed with family and friends. From our team at The Outpost Center to you and your fiancé, we are thrilled for you to take this next step in your journey together.
As you begin to walk through the early stages of planning your celebration, we thought we would offer our tried and true advice about wedding budgets. Although finances may not be the most exciting topic to cover (color palettes, menu options, music, and flowers will always feel more thrilling!), uncovering your wedding budget is the piece that allows you, your fiancé, and your families to explore every other element. Some may say it’s one of the most important wedding details, and we have to agree!
Today, we’re diving into wedding budgets, but we’re doing so with ease. Below, you’ll find our top five tips for creating your wedding budget and why you should honor it once it’s decided. Make sure to keep reading!
Have a Meeting
When you’re starting to determine your wedding budget, the very first step you should take is to plan a day to have a meeting with everyone who will be financially involved in your wedding day. During this meeting, we encourage everyone in attendance to be open and honest about the amount they hope to spend.
If multiple people are contributing, it’s helpful to decide with them if they would like to invest in a specific piece (i.e.: your venue and catering; flowers; music; photographer; wedding planner) or if their contribution can be allocated to any area. If they would like to be involved in a specific piece, you will want to continue to keep them in the loop about the professionals you’re considering.
The key to this meeting is to truly listen to everything that’s said. When everyone is feeling positive, it helps the group to stay on the same page and excited about the rest of the planning ahead.
Determine Your Guest Count
Whether you explore your guest count during the meeting we mentioned above or note the friends and family you would like to invite at a later time, determining your guest count will drive many of the decisions you will make throughout your wedding planning process. Before we go any further, we should note you do not need to write a finalized list of the specific guests you plan to invite. A general number is perfectly fine and reasonable for this step!
The number of guests who will join you on your wedding day will lead you to look at venues that can accommodate your count. Plus, the number of guests who may attend will determine how much you can expect to spend on catering. The list goes on!
As a general rule, plan to allocate about 40-60% of your wedding budget toward your venue and menu.
Explore Your Inspiration
Once you have a rough idea of how much you would like to spend and how many guests you would like to invite, wedding planning will likely feel a bit more like you imagined. It’s time to explore your inspiration!
The best way to uncover the things you like, love, and even dislike is to spend time exploring Instagram and Pinterest. Both are visual tools that allow you to save photos to your collections (Instagram) and boards (Pinterest) that you can revisit to see the themes that emerge through the items you collect. You will likely see things like specific flowers, indoor versus outdoor ceremonies, wedding styles (our couples are drawn toward garden-inspired and rustic celebrations), and more.
Discovering where your inspiration lies will help you to contact the wedding professionals who will match your style and understand your unique personalities. Plus, it will help you while you’re completing the next step!
Rank by Importance
It may not be in your best interest (or reality!) to splurge on every area of your wedding. So, plan to talk through ideas with your fiancé and those who are helping to pay for your wedding about the specifics that are most important to you.
We have found it’s helpful for couples to rank what’s important to them from most to least important. Through doing this, you can decide on your top 3-5 most important items together and allocate your budget accordingly. Many of our couple’s lists look something like this:
Photographer
Venue + Catering/Menu
Music/Entertainment
Wedding Dress/Attire
Flowers
Decide + Honor Your Budget
Once you’ve reached this point, you, your fiancé, and your family have likely decided on a budget the group is confident and comfortable spending. As an added tip, you don’t necessarily need to determine one specific number. Instead, your group may find it helpful to have a range in mind.
No matter what you decide, one thing is key: once your budget is decided, honor it. Spending more than you intended and encountering debt is not worth it. Remember, your relationships and the future you’re building together are what’s most important!
What tips and tricks have you found most helpful while determining your wedding budget? Chime in below to continue the conversation!