Weddings by Laremi

Weddings by Laremi

weddings

Three Steps to Create a Realistic Wedding Budget

Wedding Tips, Wedding Budget, Wedding PlanningLouiseComment

I know, I know, you’re sooo excited about your recent engagement and your wedding – why do we have to talk about money!?

However, without establishing your budget up front, you could end up in a real mess in a few months time.  It’s very easy to start booking things and before you know if you’ve blown all your money on three things and there’s nothing left for the rest of the day.  Consequently, this really does need to be one of the first things that you do. 

Do not worry though! You don’t have to do it by yourself. Louise from Your Fabulous Wedding, an experienced wedding planner, is here to share her wisdom.

wedding budget tips.jpg
wedding budget tips planning.jpg
wedding budget hair.jpg
wedding budget planning.jpg
wedding budget tips wedding hair.jpg

1. The Estimated Budget

First, you need to come up with an estimated budget that you want to work within.  To do this you need to think about the following:

wedding budget tips wedding dress,.jpg
wedding budget tips wedding dress.jpg
wedding budget tips wedding veil.jpg
  • What are you happy to spend on your wedding? Don’t feel pressured to go for a higher budget just because someone else did.  You know the saying: “We spend money on things we don’t need to impress people we don’t like.” You have to be comfortable spending this money on one (albeit very special) day. 

    As a guide, the average spend in the UK is around £25,000.  Nevertheless, you absolutely don’t have to spend that much.  There are lots of ways to save money which I’ll talk about in future blogs.  Some couples spend less than £5000 but to achieve this you’ll need to really shop around as well as making some things yourself. 

wedding budget planning wedding dress.jpg
  • Will you have any contributions from family members?  If no-one has offered so far, it’s probably best to assume that you will be funding everything yourself. 

    Traditionally, the bride’s parents paid for the wedding and the groom paid for the honeymoon.  Things have changed a lot though and many couples now pay for everything themselves.  If you’re lucky, you’ll have some sort of contribution from family but this obviously depends on your family circumstances. 

wedding budget tips wedding cake.jpg
wedding budget decor.jpg
wedding budget planner wedding flowers.jpg
wedding budget decorations tables.jpg
  • Do you have any savings you are happy to use? Will you get a loan? Will you be using some of your monthly income each month to pay for things?

wedding budget tips table decorations.jpg
wedding budget planning table decorations,.jpg
wedding budget tips green decorations.jpg
wedding budget tips decorations.jpg

I can’t give you any financial advice so you’ll have to figure this one out yourself I’m afraid.  Whatever you decide, you both need to be comfortable with it and never overstretch yourselves. 

wedding budget planning table decorations.jpg

Hopefully, this will enable you to come up with a ballpark figure to start with. 

wedding budget table decorations.jpg

2. Refining the Budget

Now that you’ve got an idea of your budget — you need to try to refine it. 

List out the things you will need to pay for.  Try to think through every part of the day so you don’t miss anything.  My budget planner example below should give you a good guide for this. 

Wedding Budget Planner.jpg
wedding budget tips 1.jpg
wedding budget tips wedding flowers.jpg

Next, you need to agree which elements are most important to you so you can allocate more budget to those.   There may be some items on there that you don’t want or need. Make sure you only include the relevant items.  

On the contrary, there may be something else you want that I haven’t included on this planner, like a warming shawl to keep you cosy on the outside photo session. 

Take time to work out what you really desire: An ice cream van maybe? Fish and chip van? A Prosecco cart?

What about the wedding venue? (download our venue checklist to cover all the important points)

wedding budget tips groom.jpg
wedding budget tips bridal shawl.jpg
wedding budget bridal cape and gloves.jpg
wedding budget budget groom.jpg

It’s imperative at this point to have an open honest conversation with your partner. Make sure you’re in agreement about your priorities.  Don’t assume that you both know what the other will want – there are often surprises here. 

wedding budget tips bridal cape.jpg
wedding budget planning wedding ring.jpg
wedding budget bridal cape.jpg
wedding budget tips bridal bouquet,.jpg

Be realistic & honest with yourself about what you can afford.  You still have to eat and pay your bills!!

If it means you have to wait another year, surely this is better than having no money to live on.  And you absolutely shouldn’t get yourselves into a position where you’re struggling to cover your regular bills and outgoings because of your wedding spend. 

Get some initial quotes from a number of suppliers to help to build up your understanding of what things will cost.

wedding budget planner.jpg

3. Managing your spend

Use a spreadsheet (doesn’t need to be a very complex one) to record and track your costs. You can also use this to record the deposits you have paid and when the balance is due. Additionally, include the details of your suppliers, to have all the info in one place. 

Make sure you have some contingency included in your budget.  Things can change and you may need some extra money to be able to invite a few more guests for example.  Or your priorities may shift as you get further into your planning. 

wedding budget tips..jpg

If possible,  I always advise my couples to pay the balances for everything ahead of the big day.  It’s one less thing to worry about on the day. 

For more of my wedding ideas and inspirations, be sure to check out Weddings By Laremi Blog or follow me on Instagram for daily updates.

XoXo,

Mirela

Photo: @jlphotographyri
HMUA: @timelessbeautyllc 
Flowers: @weedweavers
Models: @kristianrix and @ryno6044 
Veil: @whiteveilsto
Shawl and Gloves Laremi