Wedding Budget Breakdown: How to Allocate Funds for Your Dream Wedding
Weddings are always fun, joyful, and a call for celebrations. But, when it comes to wedding budgets, it’s not always fun. Here we share some of the common and uncommon mistakes couples, or their family tend to make while preparing for the wedding.
Let’s dive right into the topic and get you some insight into ‘what to’ and ‘what not to’ on your wedding. Here is a rough breakdown of the wedding budget you might follow to get things done the right way.
- Boho Wedding, A Wedding Of Your Dreams
- Top 26 Wedding Videographers in Australia Offering Nationwide Coverage
- 30 Must-Have Wedding Photos You Need To Take For Wedding Album
Wedding Budget Breakdown Australia
50% – Venue, Catering and Rentals
18% – Photography and Videography
15% – Attire, Makeup and Decor
5% – Wedding Planner
2% – Stationary
5% – Entertainment
5% – Miscellaneous
However, these breakdowns solely depend on your priorities and what you desire to spend more on.
As that being stated, let’s move on to the details of wedding budget planning, the tips to keep in mind, and the mistakes you should avoid during the whole planning process.
Decide Who Pays For What
Before discussing with your families, decide on what kind of wedding you both desire. Is it the grand ballroom wedding in the presence of some 200+ guests the cozy, intimate party at your pretty tiny backyard, or the posh and extravagant wedding at your dream destination?
Choose your type of wedding and create a general budget for the same, as this will give you a head start on the entire budget planning process.
Now it is time to discuss it with your parents. Do it separately if you wish to and politely ask them if they would like to contribute and, if yes, how much. Discuss with both of your parents and share how you want your wedding to unfold.
You may also like to read:
- Rustic Wedding: Decoration Ideas, Rustic Wedding Venues, Tips and more
- 35 Creative Wedding Table Number Ideas from Symphony Events
- Wedding Wheels: A Guide to Wedding Car Types and Hiring Tips in Sydney
Based on the same, you can discuss and decide what each of you can contribute and how much. Also, instead of an amount, you can discuss financing any aspect of the wedding like catering(Elizabeth Andrews) or the honeymoon.
I know that the conversation might be awkward, and discussing the same separately might help. However, you have to make the conversation and get done with it, so be cool and go for it.
The Guest List, Venue, and Date
Getting a clear idea of the guest list and choosing the venue will give you more clarity on your wedding budget. The increase in the number of guests will basically decide if the cost goes higher or lower and how much should you allocate for the other resources as well. Because as the number of guests reduces, you don’t have to need as much of everything.
Also, finalising the venue based on your guest list will save you lots of money. You don’t want a 500-seat grand ballroom for a 200-guest wedding. So be smart and choose your venue after creating the guest list efficiently.
When it comes to venues, choosing the right one can take a lot of research. Some cities might be more expensive than others, and the costs will shoot up if the decor or any other item has to be shipped from afar. Consider every aspect while choosing the venue and save your money. Also, the prices will go up based on different seasons as well.
Choose your date and keep in mind that tourist seasons might make your wedding expenses shoot high. A dinner reception might cost you more than a brunch or lunch, and the evening parties will demand more liquor as people tend to drink less during the day. Also, choosing daytime for your wedding will save you a lot of money which you might have to spend on the lighting and decor when compared to night parties.
- 20 Wedding Aisle Decorations for Your Big Day from Symphony Events
- 20 Fabulous Wedding Cake Ideas from Jack
- 18 Church Wedding Decoration Ideas: Ways to Bedeck a Church
Choose Your Wedding Style
Select your wedding theme and decor beforehand. The last-minute preparations or changes might cause havoc. So decide on your wedding style, the theme, and how big you want to go. The fancier the event, the higher the price.
Price per head for the food, the wedding decor, the entertainment costs, and the destination arrangements if it’s a destination wedding. Choosing a wedding style you both love will tag along with all these expenses. So choose your wedding style and set the budget aside for all related aspects.
Divide Your Funds Effectively & Efficiently
Like planning and allocating your monthly funds for various aspects, distributing your wedding funds to different sections is very important. Talk with the vendors and get a hold of things before diving into the fund division unplanned. To be on the safer side, allocate an extra 5% budget to the ‘in case of’ section as this will avoid stress if something goes south or an emergency fund requirement comes up outside of the pre-planned budget.
Understand where you should invest most of your funds and what will cost more. Start saving your income as soon as you are engaged and organize the wedding based on your budget. You don’t want to go broke after your wedding.
Keep Track of Your Expenses
Track your expenses and income once you decide to get married. Download a tracker, or with the help of your wedding planner, you can even create a customised budget tracker for your wedding.
Also, by discussing with your wedding planner, get to know the surprise or hidden expenses that might accompany weddings to prepare yourself for the same. Ensure that you document every single penny that comes in and goes out during the planning, process, and post-wedding expenses.
Ensure that you do your trials, be it your wedding attire or your venue decor, and never miss an appointment with your planners. Make sure that everything is perfectly scheduled, planned, and perfected way before the wedding. Try your best to avoid last-minute alterations or edits in your plan, as it might throw you overboard and give you unnecessary stress.
You may also like to read:
- 30 Stupendous Wedding Welcome Sign Ideas
- 18 Wedding DJs in Sydney to Soundtrack Your Special Day
- 25 Unique Wedding Venues in Australia
- 35 Wedding Venues in Gold Coast: Iconic Places to Tie Your Knot
Save Where You Can
Whether you are hosting an expensive wedding or a budget wedding, make sure that you save wherever you can. Make a priority list and spend some extra budget on the top of your inventory by cutting it from the bottom.
To save further, the next thing you can do is to cut down the guest list. This might be difficult at times, but if you really want to save some bucks, downsize your wedding.
Another brilliant means to save on your wedding budget is to go minimalistic. Being minimalistic will give you the same elegance and class with which you’ve always wanted to get married while losing the luxurious looks. The minimalists will never be out of style but will never cost you a fortune to look classy and posh.
The one thing that might help you tremendously is to go by ‘Is this truly necessary’. If you have no special choice for the flowers, choose the ones that are in season. This will never decrease the ambiance of the wedding but might even accentuate the same. Making brilliant choices can save you a lot when it comes to decors.
Know Your Budget
To get on top of your budget and keep it under control, being realistic is very important. Know your budget in and out and have a precise hold of how much you can spend and how much you should save. Also, think about the expenses that might show up after the wedding, like your honeymoon, apartments, and daily necessities.
So keep all these in mind and always have a backup fund.
When it comes to wedding expenses, talk to your wedding planner about how much each aspect will cost you and where you can save. Always choose the items that will stay within your budget. Also, never exceed your budget at any cost, as this might throw a tantrum to your overall budget create unnecessary stress during the planning, and might ruin your big day.
So know your budget in and out and choose your priorities wisely.
These are some brilliant and efficient wedding budget planning tips from experienced wedding planners who meet and greet many couples throughout their profession. So believe it when it comes from someone who has experienced and has gone through the process multiple times. Budgeting can be stressful, and we would do anything to keep it for some other time.
However, procrastinating will only make it even more stressful and difficult. So even if the wedding is in your hindsight, start thinking and talking about the budget, at least to yourself. Start saving a part of your income for your wedding so you won’t struggle when the day actually comes.
Get help from experienced and the best wedding planners in town if you cannot manage everything on your own. Spending a percentage of your wedding budget on your wedding planner will only save you lots of stress, tension, and unnecessary confusion.
Know it when you need help, and be smart enough to ask for it. You don’t have to do everything alone. Wedding planners will take care of everything, and you just relax and put on your pretty little smile of yours on your big day. And don’t forget to enjoy every single bit of it as it will never happen twice.