Planning Your Wedding Budget
Once you decide to get married there’s much to do. You need to make the official announcement, pick a date, and start making wedding plans. You’ve got to arrange for your honeymoon, think about where you’ll live, and pick out your wedding dress, photographer, flowers, cake ……
As wedding planners, we at Pierce Events can help you with all that. Still, there are some things you must do. You’ve got to consider your personal finances and how the wedding and marriage will affect them. A wedding can be expensive. The decisons you make now, will effect the two of you for years to come.
Ring it Up
One of the very first expenses involved with getting married is buying an engagement ring. Listen up guys! I know you want to wow her with the Hope Diamond but it’s not a smart move to buy a ring you can’t afford. An engagement ring should be a symbol of your love and commitment, not a statement of your financial situation. You’ll have plenty of occasions to upgrade your ring after you’re married.
A recent survey by Bride’s Magazine showed the average amount spent on an engagement ring is $3,044. Don’t let a jeweler talk you into buying a ring you can’t afford. We can guide you to some wonderful and reputable jewelers. Just give us a call.
Here Comes the Bride and the Bill
Traditionally, most wedding expenses were paid for by the bride’s parents. But times have changed, and the way we pay for weddings has changed as well. Often the bride and groom pay for the entire wedding, the two families might split expenses, or each family may pay for the number of guests it invites.
Bride’s Magazine reports that the average cost of a wedding for 200 guests and five attendants is $19,104.
Regardless of who is footing the bill, the first important thing to do when planning your wedding is to establish how much you can spend. This will require talking to everyone who might be contributing and finding out how much you’ll have. A wedding does not have to cost $20,000. We can give you cost savings ideas and discounts through our network of vendors. Often using a good wedding planner will actually save you money in the end. Whatever you budget is, work within those parameters and make sure your planner does as well.
The budget for every wedding is different, because every wedding is different. Grab your calculator and let’s get an idea of how much money you’ll have to spend for each cost area.
Total wedding budget $________________
Estimated Cost Actual Cost
Stationery items (3%) $ ___________ $ ___________
Bridal attire (10%) $ ___________ $ ___________
Reception (40%) $ ___________ $ ___________
Flowers (8%) $ ___________ $ ___________
Music (3%) $ ___________ $ ___________
Photography (7%) $ ___________ $ ___________
Gifts—attendants (2%) $ ___________ $ ___________
Honeymoon (20%) $ ___________ $ ___________
Misc. (e.g., special parties) (7%) $ ___________ $ ___________
Planner (15%) $ ___________ $ ___________
Obviously, these percentages will vary, as you customize your own wedding. Be sure you keep track of all your wedding expenses by saving all receipts and filing them in a safe place.
It can all be a bit scary, but we are here to help you make wise decisions every step of the way. Don’t think you can afford a wedding planner. In most cases you can’t afford not to have one!
Pierce Events offers complete event planning, production and management services for corporate, social and non-profit events. For more information and other helpful tips visit our website at http://www.pierceevents.net/