It's no secret that planning a wedding budget can be an overwhelming task, especially since weddings are expensive. To make sure you have enough money to cover all the necessary expenses, it's important to create a budget and stick to it. Bishop suggests leaving a 10% margin in the wedding budget to cover hidden expenses, excesses and accessories, such as cake cutting and delivery costs, taxes and tips. But use these average wedding budget percentages as a starting point and then customize them to create your own.
Once you set a budget, decide on the type of wedding you want and start comparing the costs, enter the numbers. Breaking down your wedding budget is one of the trickiest (but most important) wedding planning tasks. Regardless of the starting number, think about dividing your wedding budget in terms of “for you” and “for them,” says Alicia Fritz of A Day in May Event Planning & Design. The wedding budget will also help determine the type of wedding they can celebrate, the number of guests, and the amount of things they can do.
From wedding venues to officiants, from wedding planners to catering companies, photographers, florists and more, every vendor has an important role to play, and you'll want to know how much each professional costs so you can set your budget more precisely. You shouldn't rely on receiving monetary gifts when making a budget; however, if a family member offers to pay for something in particular, it's helpful to include it in the budget. When creating your wedding budget, it's important to consider all the expenses that come with planning a wedding. This would include personal flowers (bouquets and eyelets for the wedding party and the guests of honor), as well as decorations for ceremonies, flowers for cocktail hour, centerpieces and other non-floral decorations.
It's also important to remember that there is often a big discrepancy between what couples plan to spend on their wedding (the average wedding budget) and what they actually end up spending.