Updated 10/8/2024
Your wedding day is one of the most significant events you will have in your life, and it can get expensive. So, it’s important to set a budget that you can afford and stick to it. Here are a few tips on how to stay in your wedding budget!
Determine the Budget
The first step is to establish your budget. How much are you and your partner willing or able to spend on the wedding day in total? Will you receive any financial assistance from family or friends? It’s crucial to set a realistic budget and commit to sticking to it. Please do not go into debt to finance your wedding. Starting your marriage deeply in debt is not ideal. If you can’t afford it, chances are you don’t need it.
Determine Priorities
After setting how much you want to spend on your big day, an excellent first step is determining the most important things you want to incorporate. We suggest you prioritize what’s important to you individually and sort accordingly. Then, look at the lists together, prioritize what’s important to you as a couple, and start allocating the funds. For example, if photography is your most important thing, set aside more of your budget to cover this expense.
Factor in Unexpected Expenses
Many couples often exceed their set wedding budget because they fail to account for unexpected expenses. It’s advisable to allocate at least 10% of your total wedding budget as a buffer. This extra amount will help cover unforeseen costs or for splurging on a dream vendor.
Track Your Spending
Figure out the best way to track your wedding expenses so you know exactly how much you have spent. We suggest using a detailed spreadsheet to help you keep track of your spending and make it easy to adjust the numbers as you go. We have saved you some time and created a Wedding Budget Spreadsheet you can download and use as is or customize. Tracking every dollar you spend on your day is essential to staying within your set budget.
Track Deposit and Payment Due Dates
Make sure to maintain an updated calendar to track the due dates for deposits and total payments for your wedding vendors. Missing a payment deadline could result in significant late fees, which can negatively impact your overall wedding budget.
Hire a Wedding Planner
Consider hiring an experienced wedding planner. A great planner will be able to advise you on how to allocate the funds you have, what’s realistic and what isn’t, help you with your venue search, assist with great vendor recommendations to ensure your money is going to the right people, and more. Read our blog, 10 Reasons You Should Hire a Wedding Planner, to see why these experts are invaluable.
Limit Your Guest Count
Inviting everyone you know to share on your special day can be tempting, but a smaller guest list is one of the most effective tips for staying within your wedding budget. Each guest adds to the cost of food, drinks, and seating, so trimming the list can result in substantial savings. Focus on inviting close family and friends who mean the most to you.
Creating a guest list can be delicate, but setting clear criteria can help. For instance, you might decide to invite only people you’ve seen or spoken to within the last year. This approach reduces costs and ensures that your wedding is an intimate and meaningful celebration.
Do Your Research
Although choosing the first photographer who catches your eye may be tempting, it’s worth shopping around before deciding. Doing extra research could save you hundreds of dollars if you find another vendor you like just as much but for a lower rate. Happily Connected has talented Nashville area vendors suitable for various budgets, so you can curate a team of pros that fit your budget.
Manage Food and Beverage Costs
Food and beverages can be a significant expense at a wedding. To stay within your budget, consider simplifying your menu. Choose a buffet or family-style meal instead of a plated dinner, as it can be more expensive. Limiting the number of courses and opting for more affordable, in-season ingredients can also help reduce costs.
Consider offering a limited bar with a few choices of beer, wine, signature cocktails, or even mocktails instead of a full open bar. This can significantly reduce your alcohol bill while providing guests with enjoyable options.
Do It Yourself
Choosing DIY options can be great for saving money for a wedding. Family and friends may be willing to help you with some DIY projects to make your big day perfect!
Repurpose Flowers and Decor
To save time and money on your wedding decorations, you can use items from the ceremony at the reception. For example, you can repurpose bridesmaids’ bouquets as centerpieces after the ceremony and move aisle decorations like lanterns or flowers to the reception tables. You can also use the same chairs from the ceremony at the reception. If your backdrop is in the same location, place it behind your Sweetheart or cake table. Discussing these plans with your wedding planner ensures everything goes smoothly!
Remember, the most important thing about your wedding is being married to the person you want to spend your life with. It’s not about how much you spend or the size of the party. Your wedding budget is about investing in what’s most meaningful to you as a couple. Focus on what’s important to you, and don’t feel pressured by trends or others’ expectations.