How to Plan Perfect Wedding with Budgeting in Mind

May is often referred to as “wedding season” since you typically see more spring and summer wedding dates than you would in the Fall.

But May also is a time when brides to be (and grooms, too) start thinking about planning their wedding for the following summer, too, since proposals are popular on Valentine’s Day, New Year’s Eve and other dates you’d expect someone to pop the question.

Here’s another question, however, that looms large amidst the proposal and once the planning stages fall into your lap.

How are you going to pay for this?

Do you have a wedding budget?

Are you going to skimp even though that really isn’t part of the plan?

Some have the ability to rely on their parents for assistance for the big day, but quite a few end up planning and paying for everything, including the honeymoon, an aspect of wedding planning that also plays into your spending wants and needs.

According to a recent poll, 45 percent of the average wedding is paid for by the bride’s parents, with 12 percent falling on the groom’s parents. That leaves 42 percent for the bride and groom, which is a sizable portion when you consider the average cost of a wedding as well.^[1]

Being worried about cost shouldn’t alarm you, because it’s quite normal during wedding season.

The average cost of a wedding has ballooned to more than $35,000 for just one day, albeit a memorable one.^[2]

That amount of money, when you consider the 42 percent on average you are expected to pay as the couple getting married, that would ring up at about $15,000 on your wedding plate.

As much as you don’t want to rain on the parade that is your wedding planning, consider that the average age of a married woman is around 30, same for a man relatively speaking and when you think about how much that age group has saved at the moment, the amount of money ($15,000) might as well be $500,000.

Roughly 33 percent of ages 25 to 34 have nothing saved at all, and 67 percent have about $1,000 with only 15 percent having $10,000 or more.^[3]

All of this adds up to wedding planning that has to include some sort of limitation in the form of a budget of what you can and can’t afford, ways to save and knowing that you can still enjoy the wedding of your dreams, but not having to deal with the nightmare of spending far more than you have or, worse yet, going into debt for one day that is, granted, important but perhaps not worth sacrificing your financial future and other plans (buying a home, retirement, etc.) just for a few hours.

One of the things working against most couples is the justification they can accept when considering wedding planning and debt. Quite simply, they have no problem going into debt to have a wedding that matches their high, lofty and in some cases outrageous expectations.

Approximately 74 percent of couples have no problem taking on debt to plan a wedding, a startling number when you consider cost of the average wedding and how much you of that portion potentially could be yours (anywhere from 42 percent to all of it).^[4]

Why not plan perfection in a wedding, and get creative with your budget without losing from your special day.

Here’s a few places you can look to save:

Photographer/Videography: How to stay on low end of this wedding staple

If you ask someone who recently got married how much they spent on a photographer, say 10 couples polled, you’ll get a wide array of answers on average.

That’s because photography and videography (often packaged together) can range anywhere from $2,500 for eight hours of work up to $10,000, again just for the photos alone.^[5]

When you throw in the videography piece, those numbers jump.

As of 2016, the average videographer is just under $2,000 on top of those aforementioned photography numbers.^[6]

This isn’t so much a suggestion to eliminate this wedding staple from your budget but rather be a little more selective in your decision.

Ultimately, you don’t want to go “cheap” on this element either, since both the photos and videos really are the take away every couple wants so they can relive this special day through both of those means.

That said, you might want to think about finding a place that incorporates both into a package deal or just skip the videography altogether. That might be a hard sell for some, but typically the photos are more than enough to satiate any would-be memories from the newly married couple.

Another thought regarding wedding photography is to book as early as possible, with some photographers and studios more apt to give bigger discounts when you do that. If you’re planning an “offseason” wedding, one that occurs in the Fall, for example, that also will allow you to get a better rate since most wedding photographers don’t have much in the way of business during that time.

Finally, and often an example most couples don’t want to hear, is to go the route of an amateur photographer or someone who does it as a side job, rather than a larger-scale operation.

One suggestion would be to enlist someone you know who’s up for the task and rent professional photographer equipment, with an average cost of $1,170.^[7]

That figure is under the low-end ($2,500) for a professional, and more often than not if you have the right equipment and a couple that knows what type of photos they want (poses, family members, toasts, etc.), you’d be surprised with how little of a quality drop off you’ll see, if any.

Extra, Extras: Photo booths, fireworks, horse and buggy might have to stay at home

One of the prime reasons weddings cost more than $30,000 are the extras that have suddenly crept up in recent years: anything from photo booths to fireworks, white doves and exquisite entrances and live entertainment (bands) that cost a small fortune.

As much as you want Maroon 5 to play at your wedding or a fireworks show to end the night (whatever happened to throwing dry rice or blowing bubbles) that is going to take a modest budget and push it well past the brink of reasonable, money wise.

These have the distinct feel of buying a car and getting sun roofs, convertible tops, undercoating and other aspects of the buy that you don’t really need.

If you’re interested in any of these extras, try to find a banquet hall or place that includes them in the cost of the rental. You’d be surprised how many include things like a photo booth as part of the overall package, with little or in some cases no cost to you.

The average cost of a live band is around $1,700, and about 30 to 40 percent of couples go down this route.^[8]

The average cost of a DJ is more reasonable, just below $800, for the entirety of the wedding, so right away you save $1,000.

A few other ways you can easily cut cost is ditching the wedding planner, a nearly $2,000 cost to you, along with nearly $1,000 for hair and makeup for the bride(s).^[9]

The wedding planner piece is one that is bred out of convenience, and should be reserved truly for someone who has absolutely no free time to plan on their own. Hair and makeup, for those budget savvy brides, often is done by themselves, but the idea of being pampered on your wedding day is too good to pass up so consider finding a family member or friend who does hair and makeup and ask them if that can be your gift to them. And if you’re thinking that is out of line, don’t. It’s quite common, and who doesn’t know someone (friend, co-worker, family member, etc.) who cuts, styles or does makeup/hair?

And if your want fireworks, make sure your parents or favorite uncle drinks too much, but exclude actual fireworks from the event. They average between $3,000 and $5,000.^[10]

Do it Yourself: Small expenses add up, and some you can do on your own

Earlier, we mentioned not hiring a $2,000 on average wedding planner out of convenience, and that makes sense given how large that number is, and the notion that most brides, grooms want to have control of this day.

That “control” can be a good thing, particularly if you’re handy and want to save money in the same vein.

Buying things like wedding invitations, party favors, cookies and wedding cakes make perfect sense, but also those are often thing you can do on your own. The cost of wedding invitations on average is $443, with $281 for party favors and a wedding cake around $546.^[11]

If you take on those elements of your wedding on your own, you’ll save more than $1,000 even if you have to buy the materials yourself.

A huge part of what costs the most, wedding wise, is the reception hall with that number sitting somewhere in the $15,000 mark just for the rental of the building. The national average is just over $16,000.^[12]

Finding a reception hall often is critical for the happy couple because going too inexpensive puts you in a place that really isn’t conducive to anything from good photos to a memorable experience, large enough areas for dancing, tables, chairs and just an overall cramp, outdated feel in some cases.

Spending that much on a venue is understood but often times you can find quality, luxurious venues for that amount that also do all of the catering, take care of the linens, cake and even centerpieces. This all-in-one “bundle” of sorts shouldn’t scare you off, in fact you should welcome it with open arms.

These sort of receptions halls not only give you more for your money but they’re also adept at wedding planning as well, with most of them having a general manger who has done hundreds of weddings and gives insight on not only his venue he’s overseeing but the best places to save on flowers, dresses and other vendors he or she work closely with on all their planning needs.

That’s a valuable resource and a money-saving tip when you do what ends up being an all-inclusive reception hall.

Getting married, planning a wedding shouldn’t just be about dollars and cents, but common sense has to prevail the majority of time when ins and outs of putting your wedding together come to fruition.

Much like the average consumer gets caught up in new car smell or test driving a vehicle that is out of their monthly price range budget but opt to buy anyway because they get caught up in the moment, you can’t allow yourself to plan a wedding that ends up costing far too much and thus leaving you with those few euphoric and amazing four hours (or so) only to have the realization set in after the honeymoon period is over, and you’re trying to climb out of debt or realize that the money you had saved, that emergency fund, no longer is an option.

When it comes to financial planning and how the average newlywed looks financially speaking, the news is good.

According to recent reports, the average credit score from the age group of 21 to 34 (again, the average age group that gets married the most) is on the rise, with the number sitting at a respectable 638, up four points as of 2016 with decreasing debt to the tune of 8 percent in that same time frame.^[13]

That traction shows that the younger generation understands importance of minimizing debt and making sure financial decisions are handled with maturity and a “big picture” understanding, which is why the marriage piece often can throw off the game plan that so many 21 to 34 year olds have already established.

Again, getting caught up in the pomp and circumstance of a wedding is totally understandable but honestly can’t be justified if you’re all too quick to go “all in” on spending as much as you possibly can to make this day memorable.

Those memories are worth making, but not at the expense of your financial outlook moving forward.