Planning a wedding is quite a task. While coordinating between the different suppliers is undoubtedly a very tiring job, settling the budget is tougher. Most of the times, the expenses of the wedding shoot past the estimates by quite some amount and those on a very tight budget may fall into trouble. That is the reason why it is important to sit down and plan a budget for a wedding quite early.
Important Tips To Plan A Wedding Budget
Break Down the Numbers
You must have an amount in hand. It will include wedding gifts, food, decoration, rent for the venue, etc. How and what to spend on each of these items needs to be determined first. So it is important to break down your entire budget into the amounts you want to spend on catering, decoration, etc.
Survey the market for the prices and amount of money you need for each of your requirements. This will help you to give a clearer picture of the amount you may require. Here is a general break up of the amounts you might need to spend on the various items in a wedding.
Reception and Catering
People spend most on catering and reception in a wedding. The amount spent comes to around half of the entire wedding budget and it can vary by around 10 to 15 percent either way depending on the things you choose. The cost will include the food and beverage, the rent for the venue, the furniture and their decorations, the cost of the catering staff, etc. However, it does not include decorations.
Decorations and Flowers
These items need to be arranged separately and can cost anything from 5 to 15 percent of the cost of the entire wedding depending on your choice. If you want to go for a theme wedding with some exotic theme then the cost may go up significantly.
Photography and Videography
It is a very important part of any wedding and for this you need to spend at around 7 to 10 percent depending on the photographer of videographer whose service you are taking.
The more established ones with a great reputation will definitely cost more while a new kid down the block who is just starting his career will do the job for much lower price.
Gifts and Wedding Favors
This amounts for around 10 percent of the budget depending on the number of guests and family members. However this is a category on which you can have a very flexible budget.
Bride’s and Grooms Attires and Wedding Rings
Though these items relate to only two persons they can cost some amount. In fact almost 25 to 30 percent of the budget is spent on these items. However, often the cost of the groom’s attire requires only about a percent of the entire wedding budget.
Allotting about 2 percent for the wedding cake may be enough while leaving a maximum of 10 percent for providing music is enough. Do not forget to include the cost of stationery which includes the wedding invitations, place cards, etc. These can take up 3 to 5 percent of the budget but often gets ignored.