One of the most common questions a bride will ask herself is “where did all the money go” and one of the biggest problems that comes to haunt you when planning a wedding is budget overrun.
How do you manage a wedding budget?
Any budget is difficult to manage, but wedding budgets are notoriously difficult to keep to and it becomes near impossible if you don’t keep a tight rein on your spending. So, how do you about this?
Set a budget
Setting a wedding budget should be one of the first tasks you tackle when you get engaged. It may not be the most exciting task but it is probably the most important. A good idea is to get in a room with all parties involved and decide who is going to pay for what. Maybe you could meet up at the weekend and then all go for a meal after to lessen the pain! Once your wedding budget is set you will have a better idea of how much you have available to spend and therefore, what type of wedding you can afford. Once you get your head around this you can get on with the more interesting stuff, like choosing your dress!
The average cost of a wedding is about the same as an average salary. That is a lot of money and any budget creep will usually hit you hard! Of course, you can have a memorable wedding for a much smaller amount and by saving money you are often making your day more unique. Our wedding invitation templates are a great saving and that is just a start, there are many ways to shave off costs – DIY decorations and favours often add a more personal touch and can fit in well with your wedding theme, as well as saving you money, because you are making them yourself. You can make DIY wedding tasks a fun event, get some help from crafty friends or family to make them, invites them over for an evening, provide some nibbles and a few drinks and you will be surprised how much fun you will have!
Make sure you scope costs well and shop around for the materials or you may find it can be just as cheap to get them done professionally.
Split items you need to budget for into categories
Pre wedding costs
This is where you budget for any event that will happen before your wedding day, like an engagement party or a wedding rehearsal dinner. Although these happen before the wedding they are all part of the wedding budget and will need to be paid for out of the budget.
You will need to decide what wedding stationery you need and whether you will get this done by a wedding stationer or can you save some money and use our wedding templates to make your own wedding invitations and stationery? This is an area that you can save yourself a lot of money and still get great wedding invitations.
The ceremony budget will include the officiants fee and any payments you may have to make for extra in the ceremony like a choir.
This will likely be the largest part of your wedding budget. it will include the entertainment costs, venue hire and catering and lots of other costs will also be included. You will need to track this area very carefully.
This is really self explanatory, but you made need to budget for cake mailers for the guests that cannot make your wedding or for people that you were not able to invite due to number constraints.
This includes the bride and grooms wedding rings, the engagement ring would be included in the Pre-wedding costs
In the transport budget you will need to include cars to an from the church and reception venue for the bridal party. This expense will also cover any transport laid on for guests.
As well as the most important dress of the bride, this part of the wedding budget will also cover the bridal party’s outfits. You can ask your wedding party to fund their own outfits, but be prepared for them to choose what they are going to were, no-one wants to buy a dress in a shade that they don’t like or a stable that they will never wear again.
The flower budget should cover flowers for the church, reception, buttonhole, bouquets for the bridal party and any thank you bouquets.
Hair & Beauty
This section should include the make up and hair rehearsal, the make up and hair on the day for the bride and any of the bridal party. Any manicure and treatments leading up to the day should also be included.
Photos and Video
Here you allocate the budget for the Photographer, Videographer, Website to share photos and any costs attached to a wedding album for the bride and groom
It is traditional for the bride and groom to buys their attendants a small gift. this should also include any wedding favors.
The honeymoon budget covers wedding night accommodation transport and from the airport, hotel, flight and spending money.
There are always extras that don’t seem to fit anywhere. You may include, a wedding planner fee, insurance etc
Don’t forget the post wedding costs like the linen laundering costs, changing your name to your married name documentation like your passport.
What needs to be tracked in your wedding budget?
There are many things that you will need to track in your wedding budget, the following is a good start:
- Track target vs actual budget
- Keep a record of what has been paid
- Record dates of when payments are made
- Note when deposit and full balances are due
- Automatically highlight overruns
- What is triggering the overspend
- Highlight where there are budget opportunities.
- Allocate budget by area i.e. catering
- Track costs of individual items with the categories set
- Note who has agreed to pay for which items
- Keep contact records of chosen wedding vendors on item by item basis
What do you need to track your budget?
A budget spreadsheet! We have taken some of the hard work out of your wedding budget.We have created for you, your very own Excel Wedding Budget Spreadsheet. With this, you can plan and manage your own wedding budget, it comes fully loaded with suggested items, but is totally interactive so that you can amend, add and delete items that are not applicable to you and it is FREE!