Let’s talk about the big scary B word in the wedding industry… BUDGET!
“What’s your wedding budget?” Probably the most asked question you will be asked when planning your wedding. You might have a figure in mind but in reality you actually have zero idea if that is realistic or not.
I’m going to take a wild guess and say that you have never planned a wedding before? Let’s be real. How the heck are you meant to know what your wedding will cost if you’ve never planned one before. #truthbomb you won’t know until you start planning. But never fear. Cause I am here to help!
So here we go. Here are 3 ways to set (and stick to) a realistic wedding budget without blowing your wedding budget!
- Before you start sourcing vendor quotes, sit down with your partner and discuss your wedding non-negotiables. These are areas of your wedding that you are really important to you (ie. great catering, a ceiling floral installation, a fantastic photographer or an epic wedding planner!). Pick 2 or 3 that you both agree on and once you have your non-negotiables picked, these are the vendors I would suggest spending a little more of your budget on. And then, agree to pay a little less money on the others. Make sure you come back to your non-negotiables throughout your wedding planning process so you keep your budget in check.
- Whatever you think your wedding budget will be, add on another 10K! The biggest mistake couples make is underestimating what their wedding will cost. Easy Weddings Australia’s most recent annual report stated that the average wedding in Australia cost approximately $35K. Now that’s the average wedding. Your overall wedding budget can absolutely change based on your non-negotiables and financial circumstances (maybe sparklers during your first dance is a non-negotiables for you? Like it was for Yvette and Alex’s big day – image below). I suggest adding on another $10K to any wedding budget for a couple of reasons:
- Most couples underestimate the costs associated with wedding vendors. Vendor costs separately may not look too scary but once you add them together, it doesn’t take long for it all to add up and the budget sweats to begin.
- It’s great to have a back up money stash for the unexpected situations. Whether it’s a marquee for unexpected wet weather, florals increasing in wholesale price or you deciding you do actually want to hire a wedding coordinator for your day, having a buffer budget will help minimise stress levels as your wedding day approaches if you need to opt for something you initially didn’t plan for.
- And finally, if you don’t end up using your buffer budget, you’ve got an extra $10K saved for post wedding fun – honeymoon, house deposit, anything! *winwin*
- It’s easy to look track of your wedding budget so my final (and probably most important tip), use a budget tracking document or template. Using a wedding budget tracker template will help you decide what your wedding day priorities are (aka your non-negotiables) as well as set an overall budget for your day. Plus, you can track your finances along the way! Wanna get your hands on the ever so useful Mellyrain Budget Tracker template I use with all of my clients? Well lucky you can download my exclusive Mellyrain Wedding Budget Tracker template! Click here to access and download my exclusive Mellyrain Wedding Budget Tracker template *yay* My Mellyrain Wedding Budget Tracker breaks down everything (I mean everything!) and becomes your A-Z bible for all things MONEY! I’ve even created a little video tutorial on how to use the document which you receive when you download the Mellyrain Wedding Budget Tracker template *double win*
If you searching for more useful and easy to use wedding planning templates, my Mellyrain Wedding Budget Tracker template is actually one of 6 essential wedding planning templates I offer in the Template Treasure Chest – a couple’s essential wedding planning DIY kit! Learn more about the Template Treasure Chest by clicking here or instantly purchase the Template Treasure Chest here.
