Weddings are a beautiful celebration of the excitement surrounding beginning a new life together as husband and wife. The bride and groom often spend hours in preparation for a wedding to get every detail correct. There are flowers, cakes, food, and beverages to consider along with decorations, invitations, and other details that may be important to the bride and groom. Working from a budget may seem daunting, but it helps the bride and groom manage what is spent on the wedding and celebration. It’s also a great pre-marriage conversation to have to keep money from being a difficult spot in marriage.
Living from a budget each month is also a great way to practice for this exercise. If an employee is salaried, setting the starting point each month along with expenses is quite simple, although it may be slightly uncomfortable if wants exceed needs. Beginning with the total dollar amount of all received income, create a budget that includes all expenses paid out each month. Every dollar needs a job. Let’s begin with an example of a wedding reception budget to show how easy it is to plan a wedding on a budget.
Start with the full budget amount.
Create a broad list of items in the budget.
Create a rough guest list that may be amended over time.
Get quotes from vendors on the items desired.
Determine the most important items to include in the budget.
Set the total amount available for the most important items.
* Select a venue with package pricing.
Our imaginary couple is Daniel and Kathleen. Kathleen’s parents have set aside $16,000 for her reception budget. Working within that amount, Kathleen begins her search for a reception venue that will accommodate her budget and the number of people she desires to invite. Royal Affairs Ballroom offers package pricing and a discounted rate on Friday evenings, so the couple decides a Friday wedding works best for them. Kathleen and Daniel begin with a broad list of the items most important to them and narrow down what they can afford from there.
Let’s assume the couple finds a great venue with package pricing that includes many items. This number would be used for the expense item labeled “VENUE.” Looking for and selecting a venue with package pricing is a significant way to stretch the budget further. Royal Affairs Ballroom packages are generous and include many items that other venues charge separately to use, like tables and chairs. Read about them here.
The next step is to begin with quotes from the couple’s preferred vendors on things like flowers, cake, food, beverages, and any required rentals for the space. The quotes will require a ballpark number of guests, so a rough list will be required. The cake is estimated by the number of slices, food and beverages are estimated according to number of guests, and rentals include tables and chairs for the number of people attending (unless the venue provides those at no additional charge).
Flowers are not dependent on the total number of guests; however, if flowers are desired on each table, then the total number of tables is necessary to determine an estimate for those.
Once estimates have been collected from the preferred wedding vendors including the venue, it’s time to put pen to paper, calculate what fits in the budget, and remove what doesn't.
Now that several quotes have been collected on things like flowers, cake, open bar, dinner, invitations, and more, it’s easy to see where going over budget would happen quickly. An open bar at a reception is a generous touch but could be modified or eliminated. Instead, offer a limited open bar or select beer, wine, and two signature cocktails to serve. The most expensive option for alcohol consumption is an open bar. A less expensive serving option is a limited open bar. The least expensive option is to offer select beer and wine with a cap on what is served.
Daniel and Kathleen will now begin working together to narrow down the things most important to them to have at their wedding reception. Vendors generally work with customers to achieve their desired result at the budget they can afford. At the contract signing appointment, knowing exactly what money is available is necessary for both parties to avoid surprises at a budget blowout.
Conserving expenses while planning a beautiful and over-the-top reception is possible, especially with venues offering package pricing. There is more freedom to work within the budget when many items are included in the price. At Royal Affairs, you will find a beautiful venue with expert staff who work with clients to make their dreams come true. We would love to work with you. Call us today for a private tour at 972-221-6565.
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