Wedding Budget Tips
On this week’s ‘Wedding Wednesday’ I’ll be going through some helpful budget tips to help you plan your Sussex and Surrey wedding. It is very likely that your wedding will be one of the most expensive things you will pay for in your life, so this can be a very daunting task. Setting out your budget and your priorities early on though will definitely help with the stress. In today’s post I will go through how to create your budget, tips on where you can save money and ways on how you can manage it all.
Creating a Budget
Creating a budget can be really difficult, especially considering the vast majority of people have no idea how much parts of a wedding are supposed to cost. Most people probably can’t tell flowers apart let alone how much they cost. But it doesn’t need to be as complicated as it sounds. First of all, you need to work out where your money is coming from. Are the two of you paying solely for the wedding or will you be getting help from family? This will help you come up with a total budget. Then you need to work out what you want to pay for each individual part of the wedding. There are several ways you can go about this, depending on your financial situation. In all circumstances though, it is a good idea to do a little bit of research first before creating your budget, so you have a general idea of how much things are going to cost you. Here are some average figures for how much each part is likely to cost. Weddings vary massively so these are very rough figures, but hopefully it will give you a general idea on how much couples usually spend.
Average Wedding Figures (2020)
Important Tip: You should also set aside some of your budget for any extras you hadn’t considered. Around 5% of your budget is usually advised for this.
Hopefully this will give you a rough idea of how much couples typically spend on their weddings, but don’t be daunted by the numbers. You don’t have to spend this if you don’t want to. Your finances and the type of wedding you want will ultimately determine how much you spend.
If money isn’t a huge concern:
If you are in the ideal situation where you don’t have to be counting every penny but still want to stay within a budget, the easiest thing to do is to come up with a figure as your maximum spend and then stick to it. Once you’ve decided how much you want to spend, then you can break it down into rough categories depending on your priorities. For example, if music is a huge priority for you, you can book your band or DJ first, then depending on how much that costs, set your budgets for the rest of the wedding. This way you will have a general idea of how much you can spend on the rest when you are getting quotes from vendors.
If you need a tighter budget:
If, like most people, you have to be a lot more careful about what you are spending, then creating a more detailed budget will certainly help. Again you need to sort out your priorities first, and work out which areas you wouldn’t mind cutting back on. For example, would you rather have a family member make your cake instead of a cake maker so you can spend that little bit more on your dress instead? If you do go over-budget on any portion of the wedding, make sure you reevaluate the rest of your budget straight away so you can work out where to cut some money. Or alternatively set your budgets for each item on your list and stick to it rigidly. Whatever works best for you.
Still not sure what your budget is?
If you are still struggling to come up with a budget, then I would advise you sit down together and go through your finances. Work out what your total monthly income is (or the average amount) then work out what your monthly outgoings are. Set aside at least £150 for general extra spending per month if you can, to give you a bit of breathing space. Whatever money you have left after that can go into savings. Once you have that figure, work out when you want to have your wedding (if you haven’t done so already). This will give you the time in which to save this money. Multiply the amount of months left by your monthly savings figure and that will give you a total budget. For example, say I manage to save £500 every month and my wedding is 18 months away, that will give me a total amount of £9,000. Then I can decide how much to spend on each part of the wedding using this figure. I would advise you still sit down and work this all out even if you will be getting help from family, as you cannot rely on it. The last thing you need is to set a bigger budget then find out that your family can no longer afford it. If you work out a budget depending on how much YOU can spend, then any contribution from your family can be seen as an added bonus.
Ways to Cut Costs
According to Hitched.co.uk, the average wedding cost last year (2019) was a massive £31,974, but of course you don’t need to spend even half that if you don’t want to. I’ve seen amazing weddings at £40,000 and just as amazing weddings for under £5,000. If you are frugal and do your research you can pull off a great celebration for a much lower cost.
Cut Your Guest List
The number one cause of a blown budget is your guest list. The majority of wedding packages will have a head-count figure. For example, for our wedding we went for the classic package at the hotel which included catering, and the cost was £69 per guest up to 65 guests, then £79 per person over that. The majority (if not all) of venues and caterers do this, so if you have a large guest list then it will start to become very expensive. Try to stand your ground with family members’ suggestions. Don’t fall into the trap of inviting someone just because you feel obligated. If you are struggling to limit your guest list, see if you can move some of your guests to the evening part instead of all day. Or if you just can’t face taking anyone off your guest list at all, then you will need to find other ways to cut costs in your budget.
Speak To Your Venue About Discounts
The majority of venues will offer discounts so make sure you enquire about the criteria for them. A lot of venues offer massive discounts for weddings held out of peak season, usually between October-March. You can also get a discount by holding your wedding on a weekday instead of the weekend. As long as you give your guests plenty of notice then having your wedding during the week can be a great way to get a good deal on your venue. Choosing a venue that is beautifully decorated already can also save you costs down the line as you won’t need to hire as much decor.
Be Upfront With Vendors
It may be frustrating when vendors don’t put prices on their websites but this can work in your favour. Usually if a vendor asks you to enquire for a price it is because they will be putting together a bespoke package for you. What this means is, if you have a tight budget, you can ask straight away what you can get for £200 or £2000. If you aren’t happy with what you get back, thank to vendor for their time and move on to another. Simple. ALWAYS shop around and get several quotes to compare.
Utilise Creativity
Do you or any of your friends and family have a particular creative skill? Maybe your cousin is really good with a camera, or your best friend loves baking cakes? See if they would be willing to help you on the day, either as a gift to you or for a small cost. Don’t put any pressure on them to do it though, it must be their choice. You can also have a look at what parts you can DIY yourself. Do you really need to order expensive engraved invitations for example, when you can make some yourself at a fraction of the cost? Just make sure you don’t fall into the DIY trap where you end up getting carried away buying a load of materials and not saving as much as you thought. Myself, I created a design in Photoshop for my invites and saved it as a jpeg, then uploaded it to Vistaprint and printed them that way. Then when they arrived all I had to do was put all the pieces of paper together in an envelope. Beautiful, simple, and saved me hundreds. You can also cut more costs on stationary by directing your guests to your wedding website to rsvp instead of printing a load of rsvp cards, or you could go fully digital by emailing your save the dates and invites too, though this isn’t for everyone.
Alcohol and Drinks
Offering a free bar to your guests will certainly raise their spirits, but it will also deplete your money, so I would always advise against it. If you really want one though, maybe set a price limit with the bar or have it open for an hour then it turns into a cash bar after. Or you can limit your spending by only offering beer and wine so that ‘one friend’ we all know won’t go and order 15 jagerbombs on your tab. You can also see if the venue will let you provide your own alcohol. The upsides to this are that can control what everyone drinks and therefore how much you spend. Also you get to take any leftovers home, hooray! Just be aware most venues charge a corkage fee to do this.
Something Borrowed
Many brides are currently opting for second-hand vintage dresses, or reusing a dress from a family member. If you aren’t sure about this option though, look out for dress shop sales or stores that will let you buy a dress off the rack as this can save you lots of money. You can borrow other items too, like veils, jewellery, decor, etc. Don’t be afraid to ask family and friends about this. Most will be over the moon to see their treasured possessions being used and loved again.
Scrap The Extra Details
There are many things we do for our weddings because it’s seen as the norm. But when you look back at your day, will you and your guests actually remember all these little details? Favours for example have long been a wedding tradition, but they really aren’t necessary. No one will notice if you don’t have any, and if you do choose to have favours I can guarantee that unfortunately most of them will be forgotten and left behind. It’s not because your guests don’t care, but when the eating is done and the dancing starts, no one wants to be carrying around their lovely little succulent all night do they. Also consider whether you really need a desert table or any sort of edible extra. By the time the evening comes hopefully your guests will already be full from the wedding breakfast and it won’t get touched. The only time I would suggest having a desert table is if you have evening guests but no evening food. I promise your guests won’t notice either if you opt for sparkling wine instead of champagne for your toast. Also, I know you love those Jimmy Choos, but unless your wearing a shorter wedding dress, no one will see them!
Keeping Track of Your Finances
Have A Spreadsheet
Tracking your wedding expenses early on is an absolute must if you want to save yourself a huge amount of stress down the line. I would suggest creating a spreadsheet that you can update as you go along, or failing that you should at least have a pen and paper list. If you are unsure about how to make a spreadsheet there are plenty of free ones you can download online. This way you can set your estimated expenses, update with how much they actually cost, and keep track of whether you are over or under budget. You can also create a section for upcoming payments too so you know where and when your money is going.
Have A Separate Account
Having a savings account generally is always a good idea, even more so for your wedding. If possible, open an account dedicated to only your wedding expenses. That way you can keep track of everything a lot more easily and it’s all in one place. You can use a credit card approach too, where all your wedding expenditure goes on one card, but just make sure you pay it off straight away. If possible, wait until you have enough money to pay it off first before making the purchase or you could end up with hundreds on your card very quickly and that will rack up a load of interest. It is probably a good idea to set up a separate wedding email account too so all your emails from vendors are in the same place.
There’s An App For That
If you can imagine it, then there is already an app for it. This is certainly the case with weddings. There are tonnes of apps out there to help you with planning. There are general ones to help with everything, or more specific ones that help you with finances or your guest list, etc. If you like to have easy access to your finances then this could be a useful tool for you. Having this in your phone will enable you to check it anywhere, anytime. Some apps even let you share it with your friends, so your bridesmaids can be a part of the planning process too. A lot of wedding websites have useful tools like budget trackers as well so it’s definitely worth checking your favourite wedding site!
Itemise Everything
When creating your spreadsheet, be specific with what you are listing on it. Instead of being general and writing ‘decor’, list all the items you intend to get like bottles, vases, candles, etc. Or instead of writing ‘stationary’, write every bit of stationary you intend to buy, such as menus, order of the days, save the dates, invites, rsvps, etc. Don’t forget the stamps either! This will save you any nasty surprises down the road when things become more expensive that you thought.
Focus On Your Priorities
Make sure you book those vendors that are a priority first to help with your budget so you know how much you have left to spend on the rest of the wedding afterwards. For example, when planning our wedding we weren’t sure whether we wanted a band or DJ. So we left that decision for later and focused on our priorities like the photographer. Once we had sorted our most important vendors, we went back to our budget to see if we were over or under budget and then that helped us make our decision. Because we spent slightly more on the venue than intended, we therefore decided to go with a DJ over a band to save some money. So if something isn’t a priority, you can always let the budget make the decision for you.
For more information on keeping costs down I would definitely suggest following this link here to the Money Saving Expert site where they have even more tips on how to budget for your wedding and keep costs down.
