Budget Breakdown - how Do We Stick To Our Budget?
Out of the many weddings I have planned through the years one of the first questions from my brides and grooms is almost always - HOW DO WE STICK TO OUR BUDGET ???
Most couples have an idea in their mind on how much they want to spend. Not all of us have unlimited funds to spend on our day but how do we get THAT PERFECT DAY with the budget we have and how do we NOT BLOW THE BUDGET
The First thing is of course choosing the BUDGET TOTAL- It’s the amount on how much you would like to spend verses how much you can afford to spend. So you have chosen the budget total – maybe $20,000 maybe $40,000 maybe alot more... But where to from here (this is where most couples go agghhh! And just start spending... wrong!
It is all about the BUDGET BREAKDOWN - allocating the funds wisely. There are places in the budget where you can tweek and there are places where – they cost what they cost for example the reception is usually 50% or a little more of the total budget, it is what it is. So how do we allocate all the rest? When choosing a wedding planning service such as mine this is where your wedding planner will work through the budget with you however if you are doing it yourself you don’t have that luxury. There are some great templates you can download and most are for free
BELOW is a guide BUDGET BREAKDOWN with the percentage allocation
RINGS – 3 %
STATIONARY – 3.5%
BRIDAL WEAR (including Hair & Makeup) – 9%
GROOMS WEAR – 1.5%
FLOWERS – 6.5%
ENTERTAINMENT- 3.2%
PHOTOGRAPHY/VIDEO – 12%
CEREMONY – 3.7%
RECEPTION – 50%
CAKE-1.7%
TRANSPORTATION – 3.4%
GIFTS FOR BRIDAL PARTY – 1.2%
FIRST NIGHT ACCOMODATION – 1%
EXTRAS – 0.3%
The above percentage breakdown is just a guide and every couple are different. So once you have your initial budget breakdown this is where you can tweek some parts. Should you know your aunty is going to do the cake then you can reallocate the funds, should you find that the reception centre you chose is a little cheaper than the usual 50% then once again you can reallocate funds. It is also about really thinking about what is important to you and your fiancé if it is more important to have amazing flowers than an amazing band choose a DJ and use the left over for flowers , should you not really care about cars reallocate the funds to the parts that are more important.
So now you have the compromised breakdown this gives you the tools to STICK TO YOUR BUDGET
When you are sourcing all the vendors and supplies you know the total you can spend that will fit into the budget. Should you go over in one section you have to take it out of another section or you have to realise you will blow the budget.
Once you have sorted out your budget total, the budget breakdown , then the compromised and tweeked budget breakdown it is all about finding vendors and suppliers that you can give you want you want for the budget cost. We wedding planners already have the connections and negotiation power but if it is up to you then you have to do the research and it is just that. Research, Research , Research! Never ever get one quote! Compare – you don’t have to go with who looks like the cheapest to get value. There are some great suppliers that are top suppliers but don’t charge exuberant prices.
A great tip with flowers is - Instead of going to your florist and saying we want this and they say ‘ohh its going to cost this much’ which blows the budget go in and say ‘my budget is this , I would like these flowers what can you do!’ That way they don’t go overboard , you don’t get disappointment and you don’t blow your budget.
It is possible to have an amazing wedding on a budget - it is all about research, allocating the funds wisely, being realistic and finding the right vendors and suppliers
I hope I have helped to relieve some of the budget stress. Good luck and Best wishes for the Wedding
Candice Schkurat
Director of Mackenzi Creations
Wedding and Event Planning & Coordination
www.MackenziCreations.com
Most couples have an idea in their mind on how much they want to spend. Not all of us have unlimited funds to spend on our day but how do we get THAT PERFECT DAY with the budget we have and how do we NOT BLOW THE BUDGET
The First thing is of course choosing the BUDGET TOTAL- It’s the amount on how much you would like to spend verses how much you can afford to spend. So you have chosen the budget total – maybe $20,000 maybe $40,000 maybe alot more... But where to from here (this is where most couples go agghhh! And just start spending... wrong!
It is all about the BUDGET BREAKDOWN - allocating the funds wisely. There are places in the budget where you can tweek and there are places where – they cost what they cost for example the reception is usually 50% or a little more of the total budget, it is what it is. So how do we allocate all the rest? When choosing a wedding planning service such as mine this is where your wedding planner will work through the budget with you however if you are doing it yourself you don’t have that luxury. There are some great templates you can download and most are for free
BELOW is a guide BUDGET BREAKDOWN with the percentage allocation
RINGS – 3 %
STATIONARY – 3.5%
BRIDAL WEAR (including Hair & Makeup) – 9%
GROOMS WEAR – 1.5%
FLOWERS – 6.5%
ENTERTAINMENT- 3.2%
PHOTOGRAPHY/VIDEO – 12%
CEREMONY – 3.7%
RECEPTION – 50%
CAKE-1.7%
TRANSPORTATION – 3.4%
GIFTS FOR BRIDAL PARTY – 1.2%
FIRST NIGHT ACCOMODATION – 1%
EXTRAS – 0.3%
The above percentage breakdown is just a guide and every couple are different. So once you have your initial budget breakdown this is where you can tweek some parts. Should you know your aunty is going to do the cake then you can reallocate the funds, should you find that the reception centre you chose is a little cheaper than the usual 50% then once again you can reallocate funds. It is also about really thinking about what is important to you and your fiancé if it is more important to have amazing flowers than an amazing band choose a DJ and use the left over for flowers , should you not really care about cars reallocate the funds to the parts that are more important.
So now you have the compromised breakdown this gives you the tools to STICK TO YOUR BUDGET
When you are sourcing all the vendors and supplies you know the total you can spend that will fit into the budget. Should you go over in one section you have to take it out of another section or you have to realise you will blow the budget.
Once you have sorted out your budget total, the budget breakdown , then the compromised and tweeked budget breakdown it is all about finding vendors and suppliers that you can give you want you want for the budget cost. We wedding planners already have the connections and negotiation power but if it is up to you then you have to do the research and it is just that. Research, Research , Research! Never ever get one quote! Compare – you don’t have to go with who looks like the cheapest to get value. There are some great suppliers that are top suppliers but don’t charge exuberant prices.
A great tip with flowers is - Instead of going to your florist and saying we want this and they say ‘ohh its going to cost this much’ which blows the budget go in and say ‘my budget is this , I would like these flowers what can you do!’ That way they don’t go overboard , you don’t get disappointment and you don’t blow your budget.
It is possible to have an amazing wedding on a budget - it is all about research, allocating the funds wisely, being realistic and finding the right vendors and suppliers
I hope I have helped to relieve some of the budget stress. Good luck and Best wishes for the Wedding
Candice Schkurat
Director of Mackenzi Creations
Wedding and Event Planning & Coordination
www.MackenziCreations.com