When planning a wedding one of the first steps is budgeting. It is important to make sure that when financing a wedding you figure out just how much you need to spend in order to get the wedding you want. Once you have a good idea of the amount of money you expect to have, then you can set your expectations accordingly.
It is a good idea to sit down with both sets of parents and ask them for specific amounts that they have allotted for you to spend on the wedding. It might be easier to ask for them to finance a specific part of the wedding such as the catering, honeymoon, ceremony, etc. Then decide how much you are planning to contribute to the wedding. Add up all of the contributions and then form budget.
According to theknot.com "The average cost for a 150-person wedding is about $25,000 (higher in urban areas).
* Here is a basic breakdown of what you can expect to pay:
Reception: 48%-50%
Ceremony: 2%-3%
Attire: 8%-10%
Flowers: 8%-10%
Entertainment/Music: 8%-10%
Photography/Videography: 10%-12%
Stationery: 2%-3%
Wedding Rings: 2%-3%
Parking/Transportation: 2%-3%
Gifts: 2%-3%
Miscellaneous: 8%
* To avoid stress, allot about 5% of your budget for a "just-in-case" fund.
* If you're paying for your honeymoon yourselves, remember to budget for that as well".
Once you have a good idea of how to allot the money it will be easier to make decisions based on what your budget allows for. This will take the stress and anxiety out of buying knowing that you won't go over budget. Just make sure not to spend more than you have allowed for or plan to take that out of a different category!!
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