This has become such a taboo subject it seems. It's just money. It is what it is, and I highly
recommend not getting worked up about it. If you approach it in a logical manner, it isn't the
hideous monster that most make it out to be.
The benefits to crafting a detailed budget are innumerable. Your
budget will keep you organized, provide clarity when it is time to make hard and fast decisions, it will also help your vendors guide you to get the most bang for your buck. That being said, there are certainly better ways to approach crafting an event budget than others.
For starters, have a heart to heart with those involved with the planning process/paying for the event (significant other, your
parents, your in-laws -to-be); talk specifics. How much money is everyone contributing? What elements are really important to you and your partner? Are there any special elements the parents would like you to consider incorporating?
This can be an awkward discussion, but necessary none-the-less. To facilitate the process, be sure to express your sincere appreciation of
every one's desire to contribute to your special day. This is also a good time to set
boundaries for how much input will be needed (read tolerated) from parents as far as design/planning ideas are concerned...(next blog topic?, I think so)
If your meeting was successful, you will have a round number in terms of overall monies available for the event and clear boundaries/roles will have been set for all concerned parties.
With this little chit chat out of the way, you and your partner should discuss your list of priorities. Here's a good starting point...
___Attire/
Formal wear___Baker
___Caterer
___Florist
___Invitations
___Lighting Firm
___Linens
___Music
___Number of Guests Invited
___Planning Help
___Photographer
___Reception Venue
By no means all-inclusive, this list serves to set you on the right path. Replicate the list, adding any elements you wish to consider. Once your list is complete, take time to assign a numeric value to each aspect of your event to denote its rank; use 1 for your top priority, 2 for your next priority and so on. Once you have done this, you are well on your way to crafting an event budget.
Now it is time to allocate monies to each facet of your event. I prefer
using a percentage range system; while it is a slightly more difficult to track, it allows for greater flexibility.
In a perfect world where all elements were created equal, an ideal budget would breakdown as follows:
Catering/Bakery - 15-30%
Ceremony/
Reception Site Fees - 5-10%
Fashion (bride/groom only)- 5-10%
Flowers/Decor - 12-15%
Lighting - 5-10%
Linens - 5-10%
Misc. (gratuities, planners, etc.)- Less than 10%
Music - 5-10%
Photography - 5-15%
Printed Material - 5-10%
That being said, this is where your priority list comes in. Allocate monies first to those elements of your event that matter most. For instance, if you aren't as concerned about the venue for your
reception, but you want killer decor embellishments... you may choose to select a less expensive venue and spend more on flowers, linens, and lighting.
Or, perhaps you have your eye on a killer
couture gown that tips the scales on your fashion budget (requiring 8% of the overall budget) if that is what is important to you, splurge on the dress and allocate less monies elsewhere... Get it? Got it? Good... now go allocate!!!
Next you'll want to meet with vendors to acquire written estimates. This is a great time to express your wants and desires, including your budgeting requirements. If you are uneasy about providing a concrete number, at least give a range with no more than $1000 between the high and low numbers. I can't speak for all vendors, but I will tell you this...
When I meet with a client, the first things we discuss are event vision and BUDGET! The reason for discussing budget specifics isn't so I can charge exactly that amount, it merely allows me to help each couple make design decisions that will meet their budget requirements and still look stunning for their special day. My goal is to be sure my clients get the most value for their budget.
Remember, crafting a Wedding/Event budget doesn't have to be overwhelming and awkward. Approach the situation logically and be honest with all involved parties (including vendors). There are no hard and fast rules for weddings these days; instead, you should craft an event that truly speaks to your personal style yet fits within your budget.
Cheers!
s.