You’re engaged! Congratulations! This can be one of the most exciting times of your life. Dreaming about your big day, creating the vision for what you want it to look and feel like, absorbing all the good vibes and well wishes from those closest to you. It’s a feeling like no other.
Along with all the pomp and circumstance, comes the practical part of the process…DUN DUN DUN ... the budget. Most couples need one, and having one can make the process much less stressful in the long run as you have a guideline for what you can spend and how you’re going to spend it. Practicality meets functionality meets peace of mind. Setting a budget can be stressful for some but hopefully with these following tips, we can alleviate some of the not so great feelings of setting your budget and steer you into feeling empowered with knowing exactly what you have to work with.
Here are a few things to consider early on in the process when you start to Navigate your Wedding Budget:
Who is paying for your wedding? Setting a budget may have a lot to do with who is footing the bill. Getting clear on who will be paying for what will give a more accurate picture of what you can expect from each contributing member, as well as guidelines on how that money is to be spent. If someone else is going to help with paying for your special day, creating boundaries and getting very clear on their opinions on how that money should be spent is also a conversation worth having.
What can you ACTUALLY afford to spend on your wedding? Factoring in your daily and monthly obligations, bills due in the future months as you plan, and leaving some room for those unexpected things that happen to manifest out of the blue, can give you both an idea of what’s left over for you to foot. Deciding whether you want to pay cash or finance the day is also an important discussion for you to have. Making sure that you aren’t overextending yourselves for ONE DAY will allow you to make a more clear and realistic spending plan.
What is included in paying for a wedding? If you’ve never planned a wedding before, there may be things you haven’t even considered adding into your budget. This is why hiring a wedding planner like SunRae Planning can be so crucial in making sure you stay on track and know exactly how to allocate those funds as you plan. Doing your own independent research will help as well but having a professional that does this day in and day out can really help you keep on the mark and stay focused.
How much does the average wedding cost in 2024? Budgets for weddings vary wildly, as you can imagine. Every couple comes into wedding planning from a different place in life, income bracket, as well as priorities on what matters to them and how much they want to invest in their special day. The AVERAGE cost of a wedding in 2024 was a whopping $33,000! However, most of our clients range from $25,000 for a micro wedding to $120,000 for a "BIG" wedding so that's just a number and shouldn't be given too much weight! Cost can vary a lot from state to state, the time of year, off or on season weddings, whether you have a destination wedding or one in your backyard, etc etc can really impact the dollar amount spent on your wedding.
What are your priorities as a couple? Getting really clear on what priorities you both have will also help in creating a budget. Priorities can come at a cost so sitting down and making a list of your non-negotiables and the things that REALLY MATTER to you and your beloved will help you prioritize those must have items or experiences.
Tools to help you navigate your budget? Here at SunRae Planning we offer our full-service clients a program that helps you track your budget, your full planning checklist, and your guest list (which is a HUGE perk!). Our event management and partial planning clients also have access to an amazing and detailed budget tracking worksheet. Type A excel nerds and detail oriented folks will LOVE this extensive document we’ve put together to help budget tracking, vendor proposal gathering, and final payment tracking WAY EASIER and way more organized.
How you choose to spend your money on your wedding day is a personal and unique decision. As long as you and your partner stay clear and focused on what truly matters to you as a couple, and don’t spend beyond your means, you will be on the right track with your budget. We look forward to helping you navigate your wedding budget and giving you resources to do just that!
Happy Planning, Lovers!
Jacqueline & The SunRae Planning Team
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