How to Create Your Wedding Budget

Sep 1

Now that you are somewhat organized, let’s finalize your wedding budget so you can start booking vendors and get this thing rolling! Knowing your finances will help you determine the size and scale of everything else moving forward in your wedding planning journey.

Finalize Your List of Contributors

Remember those healthy conversations you had with your fiance and parents at the beginning of the series? Now it’s time to compile that information to create your wedding budget!

Organize Your List of Contributors

In your new wedding organizer, make a list of loved ones who want to contribute to your wedding — it could be $$$, a skillset they wish to share, or events they desire to participate in.
Add in your personal $$$ that you can spend on wedding expenses. This could include the cost of rings, vendors, bridesmaids’ dresses, honeymoon expenses, spouse gifts, attire, etc.

Unknown Financial Numbers

In the list you created above, there may be family members who voiced that they wanted to be a part of a particular wedding event, but they did not voice their budget. That’s okay! Here are some examples of how to address these circumstances:

Let’s say, your grandmother wants to purchase your wedding dress and your future in-laws want to be in charge of the Rehearsal Dinner. In both cases, you are unaware and may not need to know their exact financial limits. However, getting on the same page WILL ALWAYS be super beneficial in the long run.

It’s okay to ask your grandmother which section of the bridal store she would prefer you to stay within. And it’s okay to share your wedding aesthetics with your in-laws so they know the style of the event the wedding will be. It’s ALSO okay if your expectations are not met 100% — try to keep in mind that this is a huge gift they are giving you.

Over-communicating is a LOT of extra work. But in my experience, it has helped me approach each situation with an open mind and a big heart so that I’m able to be truly thankful for my loved ones and their contribution to one of the best days of my life.

Calculate Your TOTAL, then Subtract 10%

Taking all things into consideration, it’s now time to add it all together! Once you’ve compiled a list of your contributors, your money, as well as any unknown financial numbers, add everything you can together then… subtract 10%! There will be a ton of miscellaneous expenses that you won’t take into consideration upfront. Keep yourself accountable by subtracting 10% as a cushion.

"Planning our wedding budget was like painting a canvas of dreams. Each stroke represented not just a dollar amount, but a choice that echoed our values and aspirations. It's not just about the numbers; it's about creating a financial framework that breathes life into our vision for the most special day of our lives."

Create Expense Categories

Now that you have your top Wedding Budget, it’s time to break down the generic categories of expenses that take place at your average wedding. Grab your trusty wedding organizer and calculate the numbers below:

Wedding Expenses

Apparel, 10% - Wedding Gown, Veil, Alterations, Shoes, Jewelry, Garter, Bridesmaids Dresses, Groom & Groomsmen Suit/Tux, Shoes, Accessories, Flower Girl, Ring Bearer, etc.
Rings, 2% - The Wedding Bands, Custom ring boxes, etc.
Wedding Vendors, 60% - Ceremony & Reception Venue and other rental locations, Wedding Planner, Photographer & Videographer, Hair & Makeup Artists, Full Invitation Suite & Calligrapher / Invitation Designer, Florist, Decor, Music (Band / DJ / Harpist), Caterer, Lighting / Rentals, Photobooth, Transportation, Officiant
Gifts, 8% - Parent Gifts, Wedding Party Gifts, Wedding Favors, Gift for your Fiance, Attendant Gifts, Gratuities & Tips, etc.
Miscellaneous & Added Fees, 10% - Sparklers, Guest Books, Reception Table Decor, Cake Cutting Knives, Service Fees, Overtime Fees, Extra Decorations, Extra Transportation/Travel Fees, Weather Related items like umbrellas or blankets, Etc.
Leftover Cushion, 10% - Always leave some leftover for a cushion in case other expenses run over (very common!)

Don’t Forget About The Honeymoon

Even though the honeymoon is not a direct expense for your wedding, still keep it in mind when planning out your budget. If you need to add it in as an additional expense — go for it! I’m all about keeping everything under one roof to see the overall picture.

Do The Math

Now that you have your wedding expenses separated into categories, it’s time to do some math. Give each category a percentage that will add up to 100% (like I did above). Then compute how much of your total budget that category would make up. Though it may not be exact, it’s a great starting point as you begin to make purchases and book vendors!

Hold Yourself Accountable

As a bride, I found myself making exceptions A LOT and it felt very familiar to every diet I’ve ever been on: “It’s a birthday party, so I deserve to celebrate and have this piece of cake,” or “It’s my wedding day, it’s okay if I splurge on ____.” The struggle is real and I’m not saying you can’t splurge. But by creating these budget goals BEFORE you begin making purchases, it will help you stay that much more accountable when you get into tricky situations =) Happy budgeting!

Communicate…. Again!

Though it may seem redundant, I would highly suggest that you talk to your contributors once more to confirm everything in the budget outline you’ve created. You may find that they weren’t aware of certain expense categories or they may have different expectations now that they are able to see a visual. When in doubt — communicate!

Final Thoughts

Bravo! You've reached a milestone by crafting your wedding budget. Armed with a comprehensive plan, you're poised for the exciting journey of turning your dream wedding into a reality. Now, as you venture into designing your wedding aesthetic, relish in the accomplishment and enjoy the creative phase ahead!