Thursday, October 16, 2014

Wedding Budget



 In 2014 the average couple spent $30,000 on their wedding. When this is the biggest best day of your life, trying to manage $30,000 and keep within a budget can be frustrating. Most couples make the common mistake of budgeting by reaction of realizing they have already contracted certain entertainment and venues and realizing they do not have much money left of their budget to prepare for the rest of the wedding.
There is a simple way to budget your money.
1. Decide what you will spend on your dress and honeymoon. Then take your remaining budget and divide it by the number of guests you think you will have.
$30,000/ 100people = $300 per person (PP)
Then divide that figure by ½.
$300/2= 150 per person.
This number ($150pp) is your budget for Venue Catering, Staff, Alcohol, Tables, Chairs, Rentals as well as tax and service on the all of the above.  There are 2 types of venue, 1 is all inclusive including all the above, 2. Is Exclusive and only rents you the space for you to fill as you please. If you choose All-inclusive be sure your per person figure is $130 before Tax and Tip. If you choose Exclusive, don’t book the venue until you have figured the cost per person for all the other expenses on food, bar, staffing, and rentals from your caterer.
The remaining 50% of your budget per person is dedicated to the rest of the day.  You should decide what is really important to you to gauge your budget priorities. Here is a tentative list of items which people use to fill their wedding day and % used when including a little of everthing.
Band and Entertainment (about 11%),
Flowers (10%)
Photography and Video (10-12%)
Lighting (5%)
Stationery (2.5%)
Cake (2.5%)
Transportation (1%)
Day-of Coordinator (5%) 
Gratuities (1%)
And any surplus should sit in an emergency fund until the wedding is over. 

Your Wedding Budget Worksheet
My Total Budget ___________
Expenses
% of total budget
Your estimate
What you actually spent
Ceremony
Location fee, officiant fee, marriage license, musician's fees, ring pillows
3%
______
______
Reception
Reception Site, Food, Drinks, Rentals, Cake, Favors
48%
______
______
Attire
Dress, Headpiece/veil, undergarments and hosiery, shoes, accessories, jewelry, hair and makeup, Groom's Tuxedo or Suit, shoes, bow tie, cuff links, studs, suspenders
10%
______
______
Rings
His and her rings, engraving
3%
______
______
Flowers
Ceremony, bride's bouquet, maid-of-honor and bridesmaid bouquets, corsages and boutonnieres, centerpieces, flower-girl basket
8%
______
______
Music
Ceremony Musicians, Band and/or DJ, cocktail hour musicians, sound system rental
8%
______
______
Photography
Photographer and Videographer's fees, albums, additional prints, disposable cameras for candids
12%
______
______
Transportation
Transportation for wedding party, guest shuttle and/or parking attendants
2%
______
______
Stationery
Invitations, response cards, thank you notes, postage, calligraphy, guest book
3%
______
______
Gifts
Bridesmaid and groomsmen, parents, welcome baskets for out-of-town guests.
3%
______
______

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