I've been getting a lot of questions from current and potential Dreamers about budget. What should my budget be? Is my budget enough? As a wedding planner/designer everything starts and end with the budget. Here are some basic advice that I give my Dreamers.
1. In order to know if your budget is doable or not. Just do the math. If you have 125 people with a $20,000. 00 budget. Simply divide $20,000 by 125. The answer is $160 per person. Which would include the cost for food, beverage, photographer, cinematographer, DJ, wedding planner, officiant, attire, stationery, etc. Therefore, if your venue cost is $100 per person. You only have an additional $60 per person for all your other vendors combined. I don't know about you, but in New York , that doesn't work. A nice dinner for two can set you and your fiancé back $100 .
2. Always allocated no less than 50% of your budget to venue costs. Which include, site fee, food and beverage costs. The other 50% can be allocated to the other vendors. This a good way to gauge where your budget will be. For example, if your venue cost is $20,000. Your overall wedding budget should be around $40,000.
3. Guest count, guest count, guest count! The best way to mange your budget expectation, is to manage your guests count. The lower your guest count, the lower you budget can potentially be. You can definitely get more bang for your buck. with a lower guest count. For example, $20,000 can go a very long way for 60 people, than it would for 125 people.
Of course, there are multiple other variables to creating, and sticking to your budget However, I wanted to cover the basics and get your wheels turning.
For me, I have a Budget Metric Spreadsheet that I use to help create and keep my Dreamers budget on track! This way my Dreamers and I can have a transparent conversation about they needs, wants when I comes to the wedding. So no need to worry!
Here are some statistics from The Knot to put some things in perspective.
Top 2016 Wedding Statistics
Top 25 Most Expensive Places to Get Married
Based on average cost of a wedding in 2016, couples spend the most on their weddings in the following areas in the US. Four of the five most expensive places to get married are in the New York/Tri-State area.
Top 10 Most Affordable Places to Get Married
Based on average cost of a wedding in 2016, couples spend the least on their weddings in the following areas in the US.
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