Wedding Budget 101: Tips to Manage Your Wedding Budget

One of the first questions a wedding planner asks is “What’s your budget?” That’s because it’s a perfect place to start planning a wedding. While it seems scary, the wedding budget phase can help you pin down your priorities and even settle on a style. Spending money should be fun, after all.

Use this guide to get an idea of what you can do with the money you have. It will break down typical wedding costs and help you cut down where you can. An amazing wedding should be possible on any budget.

What is a reasonable budget for a wedding?

In 2019, American couples spent an average of $215 per guest for their ceremony and reception.¹ That said, what is reasonable for you, is reasonable. Planning a wedding is a series of decisions, and those decisions will determine your budget. How much money you spend, and where you choose to spend it, will be different for every couple according to their preferences, priorities and requirements.

Tackle the basics of planning a wedding

On average, couples underestimate their wedding ceremony and reception expenses by nearly 60%.² Start forming a realistic wedding budget by asking yourselves these key questions:

• Who’s paying for the wedding? If you’re not paying for it from your own savings, speak to your families about who will be covering what costs.
• What size and type of wedding can we afford? The number of guests, location and type of venue should all be agreed upon.
• Should you hire a wedding planner? Decide if you can organize the entire wedding yourselves or if you need to hire a professional.
• Should you spend less on the wedding and invest more in your future? Some couples choose to put more money toward their future home, family planning or paying down debt rather than the ceremony and reception. Creating a realistic wedding budget now can help set you up for stable, successful married life later.

Make a list of must-haves

Before diving into the numbers, write down some nonnegotiables so you can factor them into your wedding budget. Do you need on-site sleeping accommodations for out-of-state family? Have you always imagined dancing to a live band? This exercise will help you prioritize budget items and give you something to consult when tough money choices need to be made.

Start researching wedding venues

The venue you choose will greatly influence the rest of the planning and budgeting process. Many venues offer prepriced, full-service packages that include food, décor and even a wedding planner. Look for pricing information on their websites to get an idea of what venues in your area charge. If you’re considering an outdoor wedding, read our article on costs to consider when planning an outdoor wedding.

What is the average cost of a wedding?

Americans spend an average of $28,000 on their wedding ceremony and reception.¹ However, that is only an average, and it was reached from a huge range of wedding budgets. Prices vary by region and there are always opportunities to cut back on wedding costs according to your priorities. Here's a quick wedding budget breakdown for a wedding that costs around $30,000:^*

*This is an example list and is not inclusive of all potential wedding costs.

• Venue – 35% ($10,500)
• Catering – 21.3% ($70 per person)
• Photography – 8% ($2,400)
• Videography – 6% ($1,800)
• Apparel – 9.6% ($2,900)
• DJ - 4% ($1,200)
• Flowers – 6.6% ($2,000)
• Invitations – 1.8% ($560)
• Wedding cake – 1.6% ($500)
• Transportation – 2.6% ($800)
• Hair and makeup – 2.2% ($650)
• Favors and gifts – 1.3% ($400)

How to stick to your wedding budget

Pulling off a beautiful budget wedding may be easier than you think. In a typical wedding budget, there is plenty of room for cost-saving alterations and cuts. Use these tips to focus your money where it will have the most impact and get creative with your must-haves.

1. Choose an out-of-season date. Summer and early fall is peak wedding season when venue and vendor pricing is highest. If your date is negotiable, consider a spring or cozy winter wedding.

2. Reduce the guest list. With catering being an average price of $70/person, you can see how quickly it adds up.¹ A good place to start your guest list is with your immediate family and wedding party, then branch out from there.

3. Use fewer flowers. Flowers can add thousands to your overall cost, but foliage is just as good at setting a mood. Look into green plant alternatives or DIY options like grocery stores, farmers markets or local farms with you-pick wildflowers.

4. Skip the party favors. Couples spend an average of $400 on favors that often go untouched and left behind by your guests.1 Skip it and put those funds elsewhere.

5. Negotiate prices with your wedding vendors. As with most sales contracts, several products and services in the wedding industry hold potential for negotiation. There are many ways to negotiate pricing with venues and vendors that could potentially save you money.

6. Ask family and friends for help. If you have family and friends who could provide amateur or professional services, don’t be afraid to ask. This approach could save you money and add a personal element to your overall wedding experience.

7. Rent your clothing. It’s hard to think about spending so much money on clothes you will wear one time. You can find amazing deals renting dresses and tuxes or suits.

8. Shop second-hand. Consignment shops and online marketplaces can save you hundreds on wedding decorations. Plus, now you have your something borrowed.

Wedding bells on a budget

Creating, executing and managing a wedding budget takes compromise, patience and a proactive attitude. Giving careful thought at the outset of the process can help you in the long run, so you can enjoy the big day. Congrats and happy planning.

1,2. WeddingWire Newlywed Report 2020 - We dropped the bouquet on... https://go.weddingwire.com/newlywed-report/2020.
This article has been updated from its original posting on August 1, 2019. Nicole DeMarco contributed.