Creating Your Wedding Budget
Working on your budget is an important first step before you start dreaming up your perfect wedding. Money can be a touchy subject but it will make your planning process so much easier and more enjoyable if you get this piece out of the way early. Here, I’m going to give you some guidelines to put together a realistic wedding budget, as well as ranges of what you can expect to pay for a New York wedding.
Key Contributors
Are you and your partner paying for the wedding on your own? Do you have any family members contributing as well? A wedding should never put anyone in an uncomfortable financial situation. If you aren’t sure if you’ll be receiving money from anyone else, I’d recommend having a candid conversation in the beginning.
Priorities
Now it’s time to sit down with your s.o. and make a list. When envisioning your wedding, what pieces pop into your head first? Is there anything that doesn’t rank on your list at all? Combine the items that you both value most at the top, then put items that might be “nice to have” but you could take or leave and finally, make a list of things you really don’t want to spend money on. You can go back and reference this during planning if you feel like you’re veering off course.
Reality Check
If you’ve both decided one of the most important parts of your wedding is to have 200 of your closest friends attend but you also wanted a 4-course seated meal, understand that you may have to adjust and be flexible. Could you be happy with a smaller guest count or would you prefer to keep everyone on your list but have a cocktail-style party? The truth is that unless you have an unlimited budget, you’ll have to make concessions here and there.
Keep it Organized
I can’t stress the importance of having a budget document! Having your numbers written down in one place will allow you to continue to revise and keep on track. Maybe you found a bakery that you absolutely fell in love with and are willing to put extra money towards. That’s fine! But that might mean you’re dipping into your flower budget to ensure you don’t end up overspending.
If you’re having trouble putting a document together or simply don’t know where to start, a wedding planner can really help here! Budget management is offered for my full-service planning clients.
Stay True to Yourself
Above all else, stay true to you and your partner’s vision! Don’t get caught up comparing to what you see other couples doing. There is no one size fits all wedding and there are so many ways to have a beautiful wedding day without breaking the bank.
Now…let’s look at some price ranges!
Venues
$3,000 - $10,000
Budget percentage - 20-30%
Catering
$50 - $200 per person
Budget percentage - 20-30%
Florals and Decor
$2,000 - $8,000
Budget percentage - 6-10%
Attire
$1,000 - $5,000
Budget percentage - 6-8%
Music
$1,000 - $5,000
Budget percentage - 8-10%
Photography & Videography
$3,000 - $15,000
Budget percentage - 10-15%