A harsh reality of planning a wedding is creating a budget. It may not be the most romantic aspect of your nuptials, but it’s crucial, in order to reduce stress and not overspend. Here are some helpful ways to plan your budget:
- Talk to all the contributors. Maybe the couple is paying for the entire wedding themselves, maybe one family is footing the bill, or maybe it is being split between many parties. Whatever your situation is, make it clear from the beginning how much (and on what aspects of the wedding) each group is willing to spend.
- Decide what your big items are. For some, this is the venue, for others they want to allot a large percentage on food. Deciding on these big-ticket items early on will allow you to budget for the others.
- Remember what is important. It can be easy to get focused on getting the vendors their checks, and picking the right DJ that fits your budget. Remember at the end of the day, you’ll be celebrating with your partner and guests, and that will be the most important part.
Finally, the actual numbers. There are a number of budget spreadsheets available online, but my favorite way to get the rough numbers is to ask:
"Picture the meal and setting that you would have for your reception and try to match it to a restaurant you know. Now - what does this meal cost if you were to go out on any regular evening?"
Take that meal cost and multiply it by two to four times, and you have a range of per person cost for your reception. Mutliply THAT by your number of guests and you have a good estimate of a reception budget.
For example, if you like the atmosphere and food at Portland restaurant Ned Ludd, take your per person cost for dinner there (including apps and drinks), let's say that's $85 per person. Multiply that times 2 or 4 to get the range. Your per-person wedding budget range is $170 - 340 per person. If you expect 100 guests, you should budget $17-34K for the wedding reception.
Keep in mind that, the lower the meal cost goes, the less accurate this may be, since you may have venue costs or rental costs for a private venue that far outstrip the cost of a casual meal for 100. Also, while this is a great way to estimate per-person costs, it doesn't address big-ticket budget items that aren't used by guests such as the wedding clothes, honeymoon, or rings. Sometimes the only way to do it is line-by-line.
What method are you using to estimate your budget? Please leave us a comment with your thoughts!