Wedding Budget Basics

It can be hard to set aside the romance of your wedding to think carefully about dollars and cents. After all, picking out a wedding gown and a bridal bouquet is fun... writing up a list of wedding expenses and figuring out how much you have to spend is not. Still, creating a wedding budget is an important part of planning a wedding, so make it a priority and get it over with!

To create a wedding budget, you need to ask yourself a few questions. Who will pay for the wedding? How much money do you have to spend? And what are the elements of your dream wedding that are most important to you. Answer these three questions and you're haldway toward planning a beautiful wedding.

The traditional rule of the bride's family paying for the entire wedding is fast becoming history. Today, the bride's family, the groom's family, and the bride and groom themselves usually share the cost of the wedding ceremony and wedding reception. Many couples are getting married later in life and are well established with their own careers, thus they feel inclined to pay for some or all of their own weddings.

Once you know who pays for the wedding, the bride and groom should discuss which elements of the wedding are most important to them. For instance, is it the reception venue, the bridal gown, or the entertainment that is most important? Maybe it's the wedding cake! You should choose roughly three or four items that are your top priorities and set the rest of your budget from there.


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Wedding Statistics from American Bridal

If you haven't already guessed by now, we're serious wedding voyeurs over at Smart Wedding Planning. If someone invites us to a wedding, we go. If someone asks us to look at their wedding photos, we do. Slides? We'll watch them gladly? You want us to have a copy of your wedding DVD? Yes, please! Basically, we're interested in anything and everything having to do with weddings, from who is having them to how much money they're spending. Hey, everyone has a hobby, right? Weddings are just our thing.

So imagine how tickled pink we were when we received word that American Bridal's yearly wedding survey results were finally in! Now we could see just how the weddings we've been to lately measure up to the average. When it came to excerpting it, we just couldn't decide what to include, so the full results are below:

Most (90%) are doing the planning themselves, with help from family and friends, and not hiring a professional wedding planner.

Since budgets are a concern for many, It looks like there’s a major spread in wedding budgets. About 25% are planning a wedding on a budget of less than $10,000, while 25% have wedding budgets over $25,001. The remaining 50% are somewhere in between, with 38% reporting in the range of $10,001 to $20,000.

“Location, location, location” as the saying goes, and roughly a quarter (25%) are having the reception at a hotel, and 10% have opted to host their nuptials at a country club. About 6% of couples selected a destination wedding, while a majority (55%) reported they are finding another type of venue to rent for the event and reception.

Size matters for this year’s brides, and by that we mean the size of the wedding party. Most couples (48%) will have between 5 to 8 people, while 37% of respondents have 9 or more bridesmaids and attendants. The trend seems to lean toward larger, more inclusive wedding parties, which leads us to the number of invited guests. Nearly 40% report they will have a guest count of more than 200 and 14% say their total guest count is under 100. A good 34% are inviting 100 to 150 guests.

As for cutting costs and wedding budgets, 68% said they’ve lowered their budgets by $1,000 or less. However, the small cuts they are making may not have a big impact on the actual wedding. Items that brides generally won’t skimp on are wedding gowns, photography and wedding rings.

When asked more specifically about what they would and would not change, most are not significantly altering music, location, reception style, or dress. Instead, they are more likely to adjust the cost of invitations, wedding favors, bridal accessories and gifts for the bridal party (combined, 46% of respondents said they would make changes in these 3 areas).

Click to shop for wedding favors and more at American Bridal

Budget Wedding Tips

Sometimes, saving money on a wedding can feel like a chore not worth undertaking. After all, how much money can a bride and groom possibly save when they're buying wedding favors, wedding stationery, and all of the other stuff they need when planning a wedding. Budgeting is hard... we won't deny that. But we also won't deny that it can be sooooo worth it, especially when you're paying for your wedding using your very own money.

So what does a budget wedding look like? The good news is that a budget wedding can look like every other wedding out there. Saving money on your wedding does not mean serving a cake made of Twinkies or wearing an outdated polyester wedding gown you found at a garage sale! Saving money on your wedding just means getting a little creative. If you love puzzles, you'll love finding new ways to keep cash in your pocket when planning your ceremony and reception.

To get you started, we've compiled the ten best (and easiest) ways to save money on your wedding.

1. Get married in the morning, on a Friday or a Sunday. Getting married in the winter months can also save you money.

2. Keep the guest list small. You can always have a second, larger party after the wedding to celebrate with friends and acquaintances.

3. Make your own veil. Most craft stores sell how-to books and supplies. You can save hundreds of dollars by making your own, and as DIY wedding projects go, this one is pretty easy.

4. Purchase your wedding gown at a place other than a bridal salon. Check out the prom section of the department store, or buy a gown online!

5. Supply your own alcohol if you're able to.

6. Consider not having a dinner reception. Opt instead for a brunch or afternoon tea, or try a cocktail or dessert party. You have to feed guests something, but it doesn't have to be a complete meal.

7. Use silk flowers. They always cost less than fresh flowers, plus they can be rented. Making your own bridal bouquet is easy, too.

8. Decorate with more greenery and baby's breath, and less flower blooms.

9. Make your own invitations. There are software programs available that can help you with this task, and you can purchase wedding desktop publishing paper at any office supply shop. Some stationery companies even sell easy-to-use wedding invitation kits!

10. Check out local universities for qualified and inexpensive musicians, photographers, and videographers. Professors will be able to point you to the best students in the program.


Don't forget to check out Talk About Weddings, a great new wedding forum, and to sign up for free wedding planning advice from Daily Wedding Tip!

Creating a Wedding Budget

We've reached the end of guy week here at Smart Wedding Planning, and our final topic is one laden with controversy. Being that more and more couples are paying for part or all of their own weddings, it's likely that you, the groom-to-be, will have at least some input into the wedding budget. This is an area where many dudes shine, simply because they are less emotionally involved in the trappings of the traditional wedding. Here's how you can help:

The Reality Check
The first thing you shouldn't do is whip out the old credit card. Don't go into debt for your wedding! Newlyweds need the added pressures of money problems like they need that third crock-pot. If you see your intended getting caught up in the moment and you think she may be tempted to go overboard, put on the brakes gently. Remind her that it's about the marriage, not about the wedding, and suggest some money-saving strategies you can employ together.

Go Semi-Pro
Vendors are expensive -- and it can seem like there's no getting around that fact. The truth is, however, that there are ways to save money and get good service. Why don't more people take advantage of them? Some brides-to-be are convinced that an expensive vendor is a good vendor. If you'd rather spend less, offer to find some of your vendors. Check out local universities for qualified and inexpensive musicians, photographers, and videographers. Professors will be able to point you to the best students in the program.

Keep It Organized
If you're an organized guy, you can help out your intended by keeping track of expenses and payments. Get a notebook and write EVERYTHING down that has to do with your wedding plans. Phone numbers, cost estimates, wedding vendor information, and anything else having to do with your finances. Keep this notebook with you all the time, and use it as a reference when interviewing prospective vendors.

Know Who's Paying
If you're not paying for your entire wedding yourselves, it's important that you know who can contribute what before you start drawing up your budget. If you're uncomfortable talking to your bride-to-be's family about this, you can still approach your own family if they've hinted that they would like to pay for something. Although it may be fun to plan out the wedding first and ask for the dough later, you may find that your ideas don't quite match those with the check book. Let reality, not your expectations, guide you.

Click to learn more about creating a wedding budget or financing a wedding budget

Who Pays For What

When it comes to drawing up a wedding budget, the hardest part is often figuring out who pays for what. Wedding budgets are a must for those brides- and grooms-to-be who don't have access to unlimited amounts of funding, but even brides and grooms who have received carte blanch from their parents can benefit from creating a wedding budget. After all, why spend more money than you have to!

A wedding budget allows you to prioritize so you don't waste money on things that don't matter to you. For example, if you are obsessed with making sure your guests have a beautiful wedding favor to take home but you have never really cared about wedding videography, you're going to want to devote more money to picking out favors. You may even decide not to hire a wedding videographer so you can take that money and apply it to something else, like a high-end wedding caterer or a beautiful wedding gown.

But back to who pays for what. Traditionally, it was the bride's family who paid for everything except for the honeymoon, the engagement ring, and the bride's wedding band. Nowadays, it's up in the air. Sometimes the bride and the groom pay for everything, including the bridesmaid and groomsmen attire. Sometimes the groom's family donates a large chunk of money to the couple. Anything goes when it comes to who pays for what, so don't feel bad if your parents can't foot the whole bill.

Here's an overview of who typically pays for what:

The Groom and His Family

• Bride's engagement and wedding rings
• Groom's wedding attire
• Rehearsal dinner
• Marriage license
• Accommodations for out-of-town ushers
• Alcohol at reception
• Wedding gifts for the bride, best man and ushers
• Flowers for the bride's bouquet, corsages for the mothers and grandmothers
• Boutonnieres for ushers, ring bearers and fathers
• Officiant's fee
• Honeymoon and transportation to the honeymoon

The Bride and the Bride's Family

• Wedding consultant's fee
• Invitations, personal notes and mailing expense
• Transportation for the wedding party
• Wedding dress, headpiece and accessories
• Lingerie
• Attendants' bouquets
• Groom's gift
• Guest book
• Cost of the reception
• Cost of the ceremony
• Photography and Videography expense
• Groom's wedding ring
• Favors
• Accommodations for out-of-town bride's attendants

The Bridesmaids

• Wedding attire - Bridesmaid dress, shoes & accessories
• Travel costs
• Shower and wedding gift for the couple
• Shower given by bridesmaids and/or maid of honor

The Groomsmen

• Wedding attire rental
• Wedding gift for the couple
• Travel costs
• Bachelor party given by best man and/or ushers

Wow, the groomsmen get off easy, huh? I kid, I kid. Like I said, no matter who is paying for what, it's important that you don't waste precious time comparing your wedding to the weddings you've been to or seen in magazines. Your wedding is going to be special because it's your wedding! Whether you have $100,000 to spend or $1,000 to spend, it will be one of the happiest days of your life. I promise!

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Cutting Your Guest List

As you create your wedding budget, you may be dismayed to find that you have too many ideas and not enough money to see them all to fruition. If you're not willing to give up the fancy wedding favors or the real old fashioned photo booth or the horse drawn carriage, there's another option open to you. I want to warn you, though, that it's not an easy one.

One of the easiest ways to save money without sacrificing luxury is to cut your guest list. Cutting your guest list can seem like a painful idea at first...one to avoid at all costs. But the reality is that many of the people traditionally invited to weddings don't particularly care if they're invited...or they care about as much as you care whether they'll show up. I'm talking about your mom's tennis partner, your boss, your third cousin that you haven't seen since you were growing up, and your sister's new boyfriend of three weeks.

As much as you feel somewhat obligated to invite everyone under the sun to your wedding, recognize that cutting your guest list can mean the difference between having the fancy (albeit smaller) wedding you want and giving up all the things you've dreamed of since you were a girl. Here are a few hints that will help you pare down your guest list without offending anyone who really matters to you.

Go through your guest list and ask yourself:

• Have I seen this person in the last 12 months?
  
• Have I spoken with this person in the last 6 months?
  
• Did I send this person a Christmas card last year?

Then look at your guest list again with these thoughts in mind:

• Don't invite your parent's friends, particularly if you don't know them very well.
• Don't invite old high school or college friends that you know you'll never see again.
  
• Don't invite second and third cousins.
  
• Don't invite business associates (unless of course, it's your boss).
  
• Don't invite children.
  
• Don't allow single people (those without "significant others") to bring a date.
  
• Don't invite people just because you were invited to their wedding. If you've lost touch with them... don't feel obligated to invite them to your wedding.

Of course, if you'd like to invite children or your sister's new sweetheart, then by all means do so! These are not rules; rather, they are recommendations meant to help you afford the wedding you really want.

Click to read more ways to keep your wedding budget under control.

Creating a Wedding Budget

It's time to set aside the romance for a moment and talk dollars and cents. Unless you're one of the chosen few for whom "the sky's the limit," you need to set a wedding budget. In fact, creating a budget should be one of the first things you do...before you fall in love with the $100 a plate caterer and the $15,000 gown!

The traditional rule of the bride's family paying for the entire wedding is quickly becoming history. Today, there is much more sharing of wedding expenses between the bride's family, the groom's family and the bride and groom themselves. Many couples are getting married later in life and are well established with their own careers. That means they are able to pay for more of the expenses -- sometimes they even want to pay for the entire wedding themselves.

A good way to begin creating a wedding budget is to set priorities. The bride and groom should discuss which elements of the wedding are most important to them. For instance, is it the reception location, the bridal gown or the entertainment that is most important to you? You should choose about three to four items that are your top priorities and set the rest of your budget from there.

How should you allocate your money? That's up to you! If you need help, however, there's a great wedding budget breakdown at Smart Wedding Planning. Go check it out!