Make sure to address these expectations when you initially discuss your budget. If your parents’ wedding contribution covers the cost, they will probably want to have input on the celebration.
#Wedding budget planning free#
Keep in mind that there’s no such thing as a free lunch, or a free wedding. How much do you think makes sense for a wedding budget?” Even better: have an idea of your budget before you talk to your folks. You could say something like, “I’ve heard the average wedding costs around $30,000. If your parents express willingness to cover some of the costs, get a concrete idea of the dollar amount they wish to spend. Traditionally, the bride’s family helps pay for the wedding and the groom’s family contributes to the honeymoon. In 2016, only 1 in 10 couples paid for their wedding by themselves. Research shows that parents often cover as much as two-thirds of their childrens’ weddings. Have “The Talk” with Your Parents Although Millenial and Gen Z couples tend to get married later in life, it’s still common for parents to contribute to the cost of a wedding.No matter how much you spend, it’s likely going to be the biggest party you throw, so make every penny count. Extras and Unforeseen Events: 1% Put something aside for the unexpected.Fun fact: couples who use Maroo to pay for wedding expenses, get wedding cancellation insurance included! Wedding Insurance: 1% For just a couple of hundred dollars, wedding insurance can protect your wedding from natural disasters, health emergencies, and liabilities.Tips: 2% Chauffeurs, entertainment providers, and catering staff should all get tips.Wedding Planner: 2% If you don’t want a full-service wedding planner, a day-of wedding coordinator might do the trick.Cake: 2% This is often separate from your catering service.Ornate details and lace can make alterations more expensive. Tailoring a wedding dress or a tux usually costs hundreds of dollars. Wedding Attire: Dress, Tux, Jewelry, Hair, and Makeup: 5% Make sure to factor in getting your wedding attire tailored.If you opt for a four-hour package, you could spend less than $1,000. Photography and Videography: 9% This is a great example of a cost that can vary quite a bit: If you want to document most of the day, you could easily spend $5,000.Food & Drink: 20% Keep in mind that if catering is included in your venue, then you’ll essentially be allocating 50% of your overall budget to the venue and catering.This is how it works for most weddings, but most weddings are not your wedding.
These numbers can easily fluctuate based on your priorities - maybe you’ll have a backyard wedding and save on the venue, but spend more on drinks and entertainment. Wedding Budget Breakdownĭon’t feel like you have to allocate your budget according to the following breakdown. Having a wedding budget will also ensure that you don’t spend more than you need to. When you’re planning a wedding, knowing how much you’re going to spend will save you the stress of paying for costly surprises. Make a wedding budget checklist of your must-haves, and then consider all the wedding extras you could live without. Nixing expenses like live bands, liquor, and plated dinners can save thousands of dollars. (Try taking your favorite 100 people out for dinner on a Saturday night.) If you have a reception, you’re buying dinner and drinks for 50 to 200 people. (There are a ton of ways to save money on a wedding.) Spoiler alert: The easiest way is most effective way to save, is to cut down on the guest list. Over the course of your engagement, the two of you can add money to the account while earning interest at the same time!īeyond setting up a smart savings plan, you’ll also want to do a little research. We recommend opening a high-yield savings account for your wedding expenses. Most important is that you start saving and setting aside money for the wedding. The same goes for your guest list––more guests means more money. If you live in a city with higher than average cost of living, then the price may be much more. It may come as a surprise how much weddings actually cost - according to multiple studies, the average wedding cost adds up to $30,000. Wedding budget planning allows you to see the big picture before you shell out the big bucks.
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