From guest lists and menus to suits and dresses, weddings take an immense amount of planning. However, the first thing every couple needs to plan is their wedding budget. Your budget will inform every other decision you make about your big day and help you allocate your funds appropriately. Since weddings tend to be expensive, setting and sticking to a budget can seem stressful and overwhelming. Fortunately, knowing some helpful tips and common mistakes can make your budget much easier to set and stick to.
How to Set a Realistic Wedding Budget
When setting your budget, it’s crucial to be realistic about your finances. Sit down with your partner to discuss your priorities and how much you are willing to spend comfortably. It is also essential to include parents or any other person who is planning to contribute to your budget so you can get an accurate picture of your total funds.
To get an idea of how much vendors and venues cost in your area, talk to friends and do some research online so you have a baseline of what you can expect certain things to cost. Even if you have an expensive vision of your wedding, it is never worth taking on debt to achieve it. Set a realistic savings goal and discuss it with your partner to ensure you both are on the same page. Once you have an idea of your budget and pricing in your area, you and your partner can begin to prioritize the most critical elements of your wedding and allocate your funds accordingly.
3 Common Wedding Budgeting Mistakes to Avoid
Even if you plan an extraordinarily realistic and reasonable budget for your wedding, it is still possible to make mistakes when allocating your funds and booking vendors. Here are three common budgeting mistakes to avoid as you plan your wedding.
Inviting Too Many People
This budgeting pitfall is incredibly common as many couples do not want to offend and exclude friends and family members from their special day. Most venues and catering services charge a per person rate. These costs add up quickly, and inviting even ten extra guests could cost you over $1,000.
Forgetting about Fees and Other Hidden Costs
When planning your budget, it is easy to overlook certain hidden costs. If your wedding runs past its scheduled time, you may have to pay some vendors over time. Some vendors may also charge a trial fee that could be forgotten when looking at overall costs.
Not Budgeting a Buffer for Overspending
Despite your realistic and firm budget, you may fall in love with a dress or cake that is slightly out of your price range. Instead of forgoing the expense or splurging and blowing your budget, allocate some funds in your budget specifically for overages. It will be easier to adhere to your budget when you give yourself some wiggle room, even if you overspend.
Host Your Outdoor Wedding in Scenic Central New Jersey
At Windows on the Water, our wedding planning experts will work with you and your budget to ensure every detail of your wedding meets your vision and needs. Our exquisite lakeside venue offers catering services included in our customizable packages to save you time and money without sacrificing quality. To learn more about our scenic venue and how we can help you host your dream wedding, call us today at (609) 208-9475 or reach out to us online through our contact form.