setting a wedding budget is one of the first—and, frankly, most important—planning tasks to complete. unsurprisingly, the biggest chunk of your wedding budget will go to the biggest investment, which is often the venue. we found that, on average, 7% of the wedding budget is dedicated to florals. save 5% of your total budget to cover the cost of a wedding planner. whether you’re planning to have a traditional cake or a spread of alternative sweets, use about 1% of your wedding budget here. if you’re hiring an officiant to legally marry you during the wedding ceremony, allocate 1% of your budget to cover these costs.
this is because you might find yourself matching the site, food and musical entertainment to the overall upscale tone. as a budding wedding budget expert, you’re well on your way to completing your expense breakdown. try to earmark 5% of your budget for unforeseen costs. gall also suggests using smart-shopping programs to make the most out of your purchases. it can be challenging, but one of the fastest and most effective ways to lower your wedding cost is to pare down the invitees. to stay on top of your wedding budget, you have to be realistic about what each element generally costs.
having a plan for spending can keep you from wasting money unnecessarily or racking up excessive debt to get married. knowing what to include in a wedding budget and how to save the money you’ll need can help you start newlywed life on the right financial footing. factors such as inflation and supply chain disruptions can increase the average cost of a wedding, which is something to consider when planning your budget. these are some items for which you may generally expect to incur costs when planning a typical full-scale wedding: whether your wedding budget includes all of these things or just some of them can depend on the scope and scale of the ceremony you’re planning. your wedding is 10 months away, and you currently have $3,000 saved in a wedding fund.
the next part of planning a wedding budget is looking at your regular monthly budget to see what’s doable. if you know what you can spend on a wedding and which expenses you plan to include, you’re ready for the next step. according to weddingwire’s 2020 newlywed report, parents paid 52% of wedding costs, while the couple getting married paid 47%. for example, if one of you makes 70% of your household income while the other makes 30%, you may choose to split wedding costs along those lines. think of the wedding planning process as an important way to develop skills in discussing and negotiating the important money decisions that are sure to be part of your future together.
your outfits are key components of your overall wedding budget. our data shows that couples typically slot 6% of their budget on their attire. ideally, you and your partner each have three months of living expenses set aside in case of a job loss or health setback (separate from budget breakdown venue and catering: 40 percent of your budget photography and videography: 15 percent of your budget wedding attire and, .
according to the knot 2019 real weddings study, the average wedding costs $33,900, including the engagement ring. having a wedding isn’t as simple as saying u201ci dou201d u2014 and can be a lot more expensive. the average cost of a wedding in 2021 was $28,000 (including the ceremony and reception), according to the knot’s 2021 real weddings study. on average, a couple sets aside about $22,500 for their wedding. seems like a reasonable amount, right? well, it turns out that the average cost, .
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