Planning Our Budget
By Kathy Nolan

Prioritize the big decisions; the smaller ones will fall into place…

Before planning your dream wedding, you need to decide how to pay for it.  Setting a budget ensures your big day does not wreak havoc with your finances. A budget can help you have the event you want without spending your life savings or going into debt. More than just numbers, a budget is your guide for setting priorities, negotiating with vendors and keeping financial worries at bay before, during and after the “I do’s”. Be realistic. You can still have the wedding of your dreams without breaking the bank.

Get Started…by talking with your fiancé. Discuss what kind of wedding each of you have in mind. Talk with your families and share your plans. Decide who will contribute and how much each party is willing to pitch in. Weddings are expensive. Customarily, it is the bride’s family who cover the lion’s share, but with couples getting married after they have established careers, it is more common to see the bride and groom paying for their own wedding. Even if you are paying for most of your wedding, speak with your families first. They want to contribute. They may want to pay for specific things or contribute a certain dollar amount and leave the decisions on how to use the money to the couple. It is always wise to start saving as soon as possible.

On average, couples spend more than $25,000 on their wedding. This will vary depending on where and when you marry, the number of guests and your individual choices. Location and food are influenced by the size of the wedding. Have an idea of your guest list before anything else. Identify 3 to 4 locations where you would like to hold your wedding reception. Visit each to discuss wedding packages with their event coordinators. A wedding planner can provide estimates for venues, professionals and other products and services and can save valuable time and money coordinating your event and negotiating with vendors.

When setting a budget, consider what is most important to the two of you. Start with the basics. About half of your budget goes toward the reception location, food, cake and bar service. The remaining half gets divided among the other details including attire, flowers, music, photography, videography, stationary. For example, 10 to 15% of your budget is average for flowers. Setting aside 2-3% for dance lessons early on means you will be able to dance your first dance for the rest of your lives.

When you may spend more in certain areas; you can make adjustments in other areas of lesser importance. A wedding planner can help by offering creative solutions and substitutions. It is possible to still get the effect you want and stay within your price range. Most importantly, don’t lose sight of what is really important to both of you. Good planning results in less stress, a happy and relaxed bride and groom, and a beautiful and memorable day.  

Best Wishes!

Kathy Nolan is a wedding consultant and owner of Whimsy special event planning. You can reach Kathy at kanolan@comcast.net