Today's blog post is geared towards the recently engaged and those just beginning to plan their wedding. You've recently become engaged, you now have a stack of bridal magazines in front of you, and your eyes are swimming with images of lace, candles, and dream destinations. But take a step back and a deep breath - I've got a reality check for you.
The average wedding today costs around $25,000. Yep, you heard me right! When you look at all the details, big and small, they add up fast, so here's the first steps for you:
Very first, you need to have the money talk with your honey. I covered the money talk in detail late last year, so check that blog out for more detail.
Second, you need to talk with your families (parents) about their ability to help out with your wedding. Keep in mind you're going to them asking them for money, so be nice about it, and impress them with notes from your earlier money talk. And if they don't have much to give, be appreciative - it's more than most couples get.
Now a quick interjection. I know some of you are thinking about wedding loans. I'm not a financial adviser, so I don't offer any professional opinion in that sense, but here's a couple quick things to consider when visions of loans to create a big fancy wedding dance in your head - do you really want to be starting a marriage with a big loan? And a big loan that's not for a house, too? It's ultimately your own decision to make, so do your research and make it an educated decision.
Ok, back to the fun stuff. So you've had your money talks, and you've narrowed down where the money's coming from to help you with your wedding. Next step - making your budget. This is where things start to get fun (well, for me at least). This is where you start coming down to these detailed little delineations that, once set, let you go crazy fun finding the best deal for your money. A lot of brides today don't know what all goes into a wedding budget - and that's why I'm here!
The key to a great bridal budget is getting firm limits on what each section of the budget are, and then spending less. There's nothing more exciting than working a budget, finding out you've got wiggle room after every thing is ordered and signed, and you can do a fun little splurge for yourself or your guests you didn't think you could afford.
Roughly, here's how the budget breaks down:
Ceremony (officiant, license, location,ring pillows, decor) 3%
Reception (food, drink, location, cake, decor, favors) 48%
Attire (dress, veil, under bits, jewelry, hair, makeup, tux, shoes, tie, etc) 10%
Rings (wedding bands) 3%
Flowers (for decor, for bridal party, flower girl, parents) 8%
Music (ceremony, reception, and sound system rentals) 8%
Photography and Videography (all fees, disks, albums, prints, disposables) 12%
Transportation (for self and/or guests before and after wedding) 2%
Stationary (invitations, thank you cards, postage, guest book, etc) 3%
Gifts (for attendants, parents, bags for out-of-town guests) 3%
Got that? Now, here's where we can change things, if something you just read you don't like. This is where a questionnaire from your wedding planner helps you decide how to play with the budget. Feel free to email me (info@rebekahross.com) if you'd like a copy of the one I give my couples.
Questionnaires cover basics like - looking at everything you're doing and buying, what are the most important things to you? How would you like to remember your wedding, and how would you like your guests to remember your wedding? Based on how you both (and individually) answer these questions, you can play with the percentages to come up with a budget that reflects you both and what you really want to get out of your wedding. You now know, when you're meeting with locations and vendors, what works with your budget and what won't, and where a little inventiveness can save you bundles.
So good luck! And to show a beautiful example of what a $25,000 wedding gets you in a dress, a selection of gown from Alfred Angelo Bridal (swoon!) all within the above budget.
