Budgeting for your Wedding

Planning your wedding is an exciting, joyful time, but is also a huge investment. The average wedding in the UK can cost anything from £20,000 to £30,000, on par with a house deposit or a new car. Finding this amount of money can be a challenge, particularly if you don’t happen to have that handy slush fund or rich uncle, while managing your budget can be a daunting task. Weddings can quickly get expensive, with costs adding up for your venue, food, florist, photography, entertainment and everything in between. However, with some careful planning and a clear budget, you can have the wedding of your dreams without breaking the bank.

Whatever your budget, it is useful to understand how much money you have available for your total wedding budget, then break this down for each aspect of your wedding. As a rough guide, most couples will spend approximately one third of their budget on the venue, another third on catering, and split the remainder between other suppliers such as your florist, photographer, and entertainment.

Here’s our quick guide on how to budget for your wedding…

Venue ~ Venue hire is likely be your biggest investment but prices can vary hugely, reflecting the location, the quality of the venue, and the services provided. Prices can range from a few thousand for a small, simple DIY venue, to tens of thousands for a large, luxurious location with multiple services included and on-site accommodation. Where accommodation is included, this could be something you ask your guests to contribute to.

Catering ~ Food and drink is likely to be your next big expense, with food easily costing anything from £50 per person to upwards of £150 per person, again reflecting the food and service you choose. Venues that offer a choice of catering options are likely to be able to offer lower food prices, particularly when catering is external. You may also choose to provide some drinks for your guests which could include anything from a drinks reception, to wine with the meal, to a cocktail hour. Find out if your venue or caterer is licenced and offers things like a bar or drinks service ~ if not you may need to hire in staff and equipment. Food and drink is normally priced per person, so the number of guests you invite will have a significant impact on what you pay.

Flowers ~ Florals can add a beautiful touch to your day. Flowers can be a little bit like a piece of string, so the more you have then the bigger the investment. It’s certainly worth using a professional for your bouquets (£100–£150 each) and large floral structures, but you may be able to let loose on your own creativity if you fancy something a little simpler. Some people even try growing their own, but I’m not sure if I could cope with the stress!

Photographer/videographer ~ I always say there is one thing you will treasure for ever after your wedding, and that is the photos and memories. Professional photographers may cost anywhere from £1,000 to £3,000+, but they are well-worth the investment. Find someone whose style you love but who you also get on well with, as you will spend lots of time with them on your day.

Entertainment ~ Who doesn’t love a good party?! Music can help create a great atmosphere throughout your day, and is often be the centrepiece of your evening entertainment. Solo musicians (great for during the day) may cost a few hundred, DJs typically cost between £300 and £800 for an evening, while a live band could range from £1,000 to £4,000 or more, depending on their reputation and size.

The finishing touches ~ There are lots of other things you may want to invest in for your big day, from your dress and attire, to hair and make-up artists, to styling and wedding favours. Try to think of the sorts of things you’d like to include and capture them in your budget early, otherwise costs can quickly run away.

A few options for reducing expenses…
While weddings can be expensive, there are plenty of ways to trim your budget without sacrificing quality or the overall experience. Here are a few tips for staying in-budget on your big day:

~ Choose an off-peak season or day. Weddings on Saturdays and during peak season (typically May to September) are always in the highest demand, so are priced accordingly. If you are able to hold your wedding on a weekday or during low-season you may find you get more for your money.

~ Manage your guest list. The number of guests you invite will have a direct impact on costs, so try to keep it to only those who you genuinely want to join you on your big day.

~ Be realistic about your food and drink choices. This is an area where you may be able to control your spend without adversely affecting your celebrations. Opting for a simpler menu or fewer courses can quickly generate savings.

~ Consider hiring props or making your own. Yes, get those creative juices flowing! From favours to flowers, props to finishing touches, hiring and DIY can save you hundreds.

~ Keep track of your spending. Probably the most important thing of all when it comes to budgeting. Whether you use an app or a good old fashioned spreadsheet, keeping an eye on what you’re spending will help prevent overspend and undue stress on you or your finances.