Ask a Planner: Budgeting for Your Big Day
Photo by Sasithon Photography
Congratulations on your engagement! Now that the initial excitement has settled down, and you’re mentally prepared to take on the task of planning, your first step should be to set a budget. But where to begin? Most of our couples come to us with some idea of what they want to spend based on recommendations from friends and family members. However, some are totally stumped on where and how to start. Lucky for you, today we are sharing our top tips on budgeting for your big day!
1. Be realistic. Yes, most couples want the best of everything but, we can’t all be Rockefellers! Take an accounting of you and your partner’s finances (and anything other family members are contributing) and come up with a realistic all-in number. We usually recommend that a good starting point for New York City weddings is $1,000 per person all-in. Note: you shouldn’t have to make major changes to your lifestyle to afford your wedding. If you can only afford ramen for lunch and dinner, it’s a red flag that you might be overextending yourselves!
2. Don’t make yourself venue poor. There is no sense in spending all of your money on the venue and food if you then can’t afford the plates to serve it on! Your venue including rental fees and all food and beverage (including taxes and fees) should be no more than 50% of your total budget.
3. Where to save? One of the most common questions we get is “where can I save?”. The two biggest areas to save in are stationery and entertainment. Using an online service such as Minted for your paper goods can be a huge savings throughout the process. Remember, the savings will extend throughout the wedding as you will need save the dates, invitations, programs, menus, escort cards and more! If you are open to a DJ rather than a band, you can free up a significant amount of money to use on other areas of your day!
Photo by Sasithon Photography
4. Hire a wedding planner! If it fits in your budget, hiring a wedding planner is a great way to make sure you are putting together a realistic budget and that you aren’t under of over allocating in any one category. If your budget doesn’t allow for a full or partial planner, there are still options for professional help! Some planners (like us!) offer consultation hours or, you may consider hiring a Month-of Coordinator. They can often help get you set up to succeed at the beginning of the planning process and then rejoin your team to guide you through the last weeks!
5. Stick to the budget. This one is self-explanatory! Once you make your budget, and assign values to each category, make a pledge to stick to it! There are hundreds of vendors in every category. It might take a bit more time but you will find someone who fits into your budget. If all of the quotes you are getting are coming in around the same number, that may be a sign to go back Step 2 and make sure your line items are realistic!
Happy budgeting! Make sure to follow along for our next installation of Ask a Planner next week with Sarah!