10 Tips for Setting (and Sticking to) Your Wedding Budget
Creating a wedding budget is no small feat. You need to figure out what you can realistically afford, find vendors that fit your budget, decide who will be paying for what, and at the end of the day, achieve the wedding you’ve always hoped for.
Luckily, there are a few ways to help you manage your wedding budget stress-free. Follow these tips to set a wedding budget that works for you, and stick to it!
1. Set a Budget By Category
Before planning any part of your wedding, sit down with your partner and detail your budget. Think of what you’d like to realistically spend without going into debt. Alternatively, if you have a plan to pay it off in a reasonable amount of time, you may talk about how much debt you're willing to take on for the wedding experience.
2. Reframe the Idea of Money
It can be easy to forget just how much a dollar is worth when you're working with a lump sum for your wedding. Find a new way to reframe money in your mind — it'll help you discern whether what you're paying for is actually worth it.
Start thinking of the money you spend as hours of your life. Calculate how much you make hourly at your job, then use that to justify purchases. Is a decoration worth two hours of work at the office? Would you feel comfortable spending a month’s worth of pay on flowers, given the examples you saw? Framing things this way may make you pause and help you stick to your budget.
3. Figure Out Contributors
Traditionally, the bride's parents pay for most or all of the wedding. However, that statistic isn't inclusive, and doesn't necessarily reflect modern marriages and their dynamics. If you and your partner have parents who could help with the costs, sit them down to discuss it. This way, you’ll know just how much your parents can contribute — it might be more than you think.
Many couples now plan to pay for their wedding themselves, however. In that case, you can still reach out to friends or relatives for some help, if needed.
4. Search Outside Your Region
Some vendors will travel for your wedding — they just need to know where they're going. Read the fine print of a vendor you're interested in and see how their prices match what you planned for your budget. Vendors have different prices in different areas throughout the United States, so if you find someone not based in LA, they might have a more affordable price point.
Some vendors will be grateful to travel if they can use your wedding for their portfolio. Others may ask you to pay a travel fee along with their services. Carefully weigh how these vendors may compare to others within your budget.
5. Plan for What's Left Over
One incentive to get you to stick to your budget could be planning what you’ll do with the leftover money. If you start by planning for less than you could afford, then you may have funds leftover to put towards something else.
For example, you may choose to save it for a house downpayment. Alternatively, you could spend your honeymoon in luxury at a resort, which could include spa treatments, exclusive pools and beaches, adventurous activities and more.
6. Read the Fine Print
Make sure you know your contracts like the back of your hand. Write down important dates, which can help you remember when certain payments and deposits are due. The fine print may also include a certain percentage of gratuity or other special requests you must adhere to. As long as you know what you owe and when, you'll feel more at ease about your budget.
7. Pre-Plan Your Tips
Tipping wedding vendors is a customary practice to show your appreciation for their role in your special day. That’s why you should pre-plan your tips to factor them into your budget. This will help you set a realistic budget for each vendor.
While you should pre-plan the amount you’ll tip each vendor, you can also set aside some extra money if you want to tip them extra. Say you have a floral emergency day-of and need your florist to make a last-minute delivery. That above-and-beyond service deserves an extra tip if you have the funds for it.
8. Ask About Custom Packages
Wedding packages often feature custom rates. For example, the type of flowers you want will influence the price, and the number of hours you want for photography will affect how much you pay. As such, the cost of a service might be different for you than it would for another couple. Talk to your vendors about custom pricing for the package that suits your event and needs best.
9. Track Your Expenses
Tracking your expenses over time will reveal where you're spending most and where you can cut back. You'll notice how much money you're spending in certain categories for your wedding and may start budgeting more effectively for the remaining items in that list.
Alternatively, you might adjust the percentages you're willing to spend in other categories based on whether you find a vendor you love that's slightly out of budget. Spend some time looking over your expenses at the end of every month. The trick is to catch reckless spending before it becomes an issue.
10. Think Over Your Guest List
Think about narrowing your guest list, as this will help you save money on catering, rentals, florals, and more. Remember — it's your special day. You should only want people there to celebrate you who will make it inherently more enjoyable for you and your partner.
Your Big Day Needs a Budget
As much as you may not want to, you must set a firm budget for your wedding day. Otherwise, you may spend much more money than you wanted to. Even if you're not great at adhering to budgets, you can keep yourself accountable in several ways.
Try these tips for sticking to a budget. Something will work for you and you may even have money left to attribute to another goal in your life. Then, you can enjoy your big day and all the adventures that follow.
Love these helpful tips & romantic coastal wedding inspiration?
Photography by Simply Adri Photo, Venue Zachari Dunes, Planning & Design by To Be Loved Events
Author Bio: Cora Gold is a wedding writer and editor of women’s lifestyle magazine, Revivalist, where she aims to inspire people to achieve the wedding of their dreams. Connect with Cora on Pinterest, Twitter and LinkedIn.
