Your wedding budget is crucial for creating the wedding of your dreams with funds you have available. The budget is one of the first things you and your partner should discuss before you begin the actual planning process! As a wedding is a once in a lifetime occasion I am sure many of you don’t know what it costs to host one. We’ve compiled some tips on ‘How To Set A Reasonable Wedding Budget‘ as well as a budget checklist for you to download!
Build A Contingency Amount Into Your Total Budget
Once you’ve decided how much you can afford to spend on your wedding, put some aside as a contingency ie shave a part off it and work along with what you have left. That way, there is some money as a back-up for any unexpected costs or if your dream dress happens to be €500 over-budget!. 12.5% is a good middle ground: So, if you’ve decided on a €20,000 budget, from now on pretend you have €17,500.
Dividing Up The Budget Between The Venue & The Rest
Divide your working budget in half (in our example the €17,500 becomes €8,750) and that’s the amount you have for your venue. With that you should cover your reception venue hire fee as well as your food and beverage.
Work Out Your Per Head Price
Along the way of wedding planning you’ll have a number in your head of how many guests you’re going to invite. Divide the budget you have for your venue by the number of guests you expect, and you’ll have your per-head price. This will be helpful while checking out venues as many will quote per head. Always keep in mind that some additional charges may apply, so if you know your budget will cover €120 per head, it maybe best to look at packages that are €100 per head. This way you’re prepared for any surprises avoiding over runs!
Set Priorities for the Rest of Your Budget
The remaining 50% of your budget covers everything from your decor to your dress, to your photographer to your stationary and all in between. Decide on what’s most important to you for your wedding but remember it won’t work if too many things are a priority, so try to limit it to just couple of elements eg entertainment , photography & flowers.
Allocate the Rest of Your Budget Accordingly
Rather than guessing the figures, get quotes from several different suppliers before you allocate an amount to them. Always ask if VAT, delivery, and service fees are included in their quote, otherwise every €100 on your spreadsheet could end up turning into €150 very quickly!
Stay on Budget Throughout the Planning
Throughout all the excitement of the upcoming big day many couples loose track of their budget or may abandon it completely. While our checklist is a simple way of keeping an eye on your budget it is also a good idea to keep a running tally of the money coming in, the deposits and expenses going out, and the balances due at a later date.
We’re sure you now know ‘How To Set A Reasonable Wedding Budget‘ and contact us to help you planning your dream wedding!