How Much Will You Need?
There are different schools of thought on how to determine the budget for a wedding. Some schools believe you should investigate beforehand, with a number of vendors, the quality you require and how many people you plan to invite. Determine the cost to accommodate the guest list with your desired elements and that will determine how much money is needed for the wedding. The problem with this method is that most brides rarely have the time, not to mention the unlimited financial resources, for this type of planning. If you do, this option works great, but if you need to work within a specified budget then cost saving strategies will need to be applied. The next school of thought is to use traditional budget advisors to estimate what percent of the budget should be allocated to each planning element. In theory, using these advisors, a budget is created for each element and ensuring planning stays within the given dollar amount, the overall budget is maintained. While this can work, it is not realistic. The reality is flowers mean more to one bride than the cake, and decorations at the reception may mean more to one bride than the food. With a percent allocation scenario, you could be spending too much money on something that isn’t that important to you, and not enough on those elements that are. The balance, however, is to utilize a combination of both schools to ensure you stay within budget and still get the wedding you’ve always dreamed of. Budget allocators should be used as a starting point to help prioritize the budget. From there, adjust percentages based on order of preference, giving money to those elements that mean more to you and taking away from those that don’t. Once you have prioritized the budget, begin researching vendors who deliver the quality standard you are looking for. Select the desired vendor and place them in the budget scenario. After investigating and selecting all vendors, add up the dollars to ensure you’ve stayed within budget. If you haven’t, DON’T PANIC! No contracts should have been signed yet; re-prioritize to determine what elements can be eliminated until the budget is in alignment. Below is a standard budget allocator to start planning and be adjusted based on wants and priorities: Reception:.................................................................50% -Beverages -Catering -Cake -Location fee -Servers -Rental items -Decorations
Ceremony:................................................................ 2% -Location fee -Officiant -Aisle runner -Candles and decorations Attire:........................................................................8% -Bridal gown -Tuxedos -Veil -Jewelry -Shoes -Garter -Accessories Flowers:....................................................................8% -Bouquets -Boutonnieres -Corsages -Ceremony flowers -Reception flowers -Flower girl basket -Decorations Music/Entertainment:.................................................7% -DJs -Musiciansfor ceremony -Musicians for reception Photographer/Videographer:........................................10% -Fees, prints, copies -Albums Stationery:................................................................3% -Announcements -Invitations -Thank You cards -Save the Date cards -Maps -Wedding program -Postage -RSVP cards -Calligraphy -Reception napkins Wedding Rings:.........................................................2% -Bride’s ring -Groom’s ring Transportation:...........................................................2% -To ceremony -To reception -Guest transportation Gifts:........................................................................2% -Favors -Attendants’ gifts -Groomsmens’ gifts -Parents gifts -Couple gifts
Miscellaneous:.......................................................... 6% -Marriage license -Taxes and tips -Cake knife -Guest book and pen -Toasting glasses Know that for some elements you may go over, and for others you may be under budget. The key is to work out different scenarios and determine where you are most comfortable trimming, to ensure the budget is maintained. If your budget needs to cover the honeymoon as well, adjust percentages to make sure this is included.
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