There are so many mistakes couples make when it comes to their wedding budget. Many couples go way over their budget as they don’t keep track of it. Some couples, believe it or not, have no budget plan at all.
Here’s a brief guide for you, by south wales wedding planner – Bethan Davies, on how to plan your wedding budget.
Discuss and prioritise
First thing you need to do, it sit down with your partner and discuss your priorities.
What do you visualise your wedding to be? Will it be a big extravagant day? Do you want every little detail to be perfect? Or would you prefer a no fuss, simple affair? Will there be many guests? Or something intimate?
Where will the finances come from? Are family going to be contributing? Are you going to be using savings or will it be a loan? If it’s a loan, how much can you afford to pay back monthly and over what term?
To give you a rough idea of what you’re looking at, Huffington Post reported the average UK wedding in 2017 cost between £25,915 – £33,884.
After a good look at your finances, when you have a rough idea of what your wedding budget can stretch to, then you need to start your research.
This is where many couples make the mistake of searching for the most competitive prices. This is not always the best thing to do. Be sure to check for quality too.
Ask for samples when it comes to catering, cake, stationary etc. Ask to see images of previous weddings with venues and all suppliers. Make sure their reliable by checking their websites for testimonials.
Most importantly, make sure you feel a connection with your suppliers and venue. Arrange an initial meeting with them, but don’t commit to anything. You need time to reflect, compare and prioritise your budget, so tell them you will get back to them with your decision.
Create a spreadsheet, breaking down your complete wedding budget. For our Juliet Rose Weddings & Events we use an excel spreadsheet for this.
So, in the first column you want to include a list of all suppliers, venue, attire, rings and anything you need to consider in your budget. You should have an estimated cost column, confirmed cost column and contact details for each. You can also use this spreadsheet to keep track of your payments, with additional columns for this.
After you have done your research, you can now take all your findings and prioritise it into your spreadsheet. Use this to discover what areas you can cut costs. For example, the five-tier extravagant wedding cake maybe more of a priority to you than the room décor. Or maybe a certain venue was slightly dearer than another, but it’s so beautiful that it doesn’t need all the décor and flowers, so you could save costs that way. Take your time deciding how you want to spread the budget. Make sure you get your priorities right.
Finally, confirm your bookings and don’t forget to get written proof of all confirmations, including the date.
If you would like more assistance with your wedding planning, take a look at the service section of our website by clicking here.