Wedding Budgeting 101 - with Jamison Events
Does saving money and creating your wedding budget get you stressed out? If you’re engaged, newly engaged, or expecting to be engaged soon, this wedding budgeting 101 advice will surely put you at ease.
One of the first steps in wedding planning will be creating your budget, and this will be an ongoing process as you find each of the vendors for your wedding, kind of like slowly placing puzzle pieces that will eventually create a beautiful picture.
When you work with Jamison Events- Step one is to draw up your guest list. Step two is to establish your budget.
Start going over your savings and figure out what you can realistically contribute to the wedding fund without breaking the bank!
You’ll want to find a detailed way to keep track of what you’re spending for each vendor.
If spreadsheets are your thing, you’ll want to make one for three stages; your estimated cost of vendors (research stage), an inquiry of costs from vendors (proposal stage), and then the final amount (total cost stage).
Leave a bubble for possible surprise costs; such as a set-up/clean up fee, vendor transportation/travel, etc.
Use your credit card responsibly! Don’t put anything on credit that you can’t pay off in 30 days, or know you have the money to pay off.
*If you do use a credit card, I suggest using one that gives you a generous cashback program. I’m always big on using cash to pay up front, since credit cards are expensive to use, but with the same rules applied from above, a % reward program on your credit card is common for Couples.
Remember to ask vendors how they take payments. Some only take checks or venmo, some only take credit. So, plan to have a few ways to pay!
Let’s Talk About Wedding Budget Myths:
“Vendors charge more for a wedding than they would for a birthday party, so don’t mention “wedding” in the inquiry.”
Ok, this always makes my blood boil. For vendors, weddings have higher expectations and work. You may be the most easy going Couple on the planet, but that does not diminish the standard of work the vendor needs to accomplish. So, while weddings do tend to cost more than another type of event, the degree of work is higher too.
“Service fees are gratuity.”
In fact, this is typically not the case. Service fees are often charged by the venue or caterer and typically go directly to the company. Gratuity is often not a part of the service fee or final bill.
“You don’t need to add a gratuity if the vendor owns their business.”
I always tell my Couples that gratuity is not expected but always appreciated. Whether the vendor is the owner or not, offering them a nice gift, cash or gift card truly shows appreciation for the hard work they did.
“Having a food truck will save you money.”
While this is mostly true in regards to the overall food bill, there are many factors to consider when hiring a food truck. Who will buss tables, remove trash, set up coffee, cut the cake? Typically, when you hire a food truck you’ll also need to hire staff and bartenders to ensure the important things like trash removal is done.
Five Thoughtful Ways to Save Money:
Don’t get stuck on a venue until you shop options: I always recommend looking into different types of venues. Make sure to shop different styles of venues, from country club to DIY. Really crunch the number prior to booking to ensure you understand all of the venue fees. It's not always true that bringing in your catering/staff/bar means a lower cost!
Host the ceremony + reception in the same place: This will cut down on your need for a shuttle, extra vendor fees for multiple locations and longer booking fees from vendors. Typically multiple locations means you have to book your vendors for longer periods of time.
Choose an off-time for your wedding (different season or a Friday/Sunday): Be open to a weekday wedding and/or an off season date because there’s a good chance most vendors will offer discounted rates. Remember- higher costs are always associated with holiday and peak seasons.
Forgo an expensive live band, but don’t forgo the professionals!: It’s important to hire professionals to ensure your entire day is literally a dream. To do that, you do need to hire experienced professionals. In my experience, when Couples try to hire friends/family or newbie vendors, it ends up costing them sanity and peace. So, make sure to hire those who will ensure a smooth day and feel free to comparison shop to give yourself vendor options.
DIY any paper products yourself: Address your own invitations AND to save on extra postage, have your guests RSVP on your website.
Remember, more guests = more money! If budget is a concern I always recommend going for a smaller, more intimate event with your closest friends and family.
Pro tip: Never assume any contributions from your loved ones, but it doesn’t hurt to ask them. Remember, that if you accept contributions a gift or thank you card is highly recommended!
Have you seen the special Marriage or Mortgage on Netflix?
I always watch this show in awe, because it's so interesting to see what is most important to Couples. The fact is, your budget will change and mold as you plan your big day. There may be certain areas that you end up spending less in or more. It’s most important that you have your dream wedding without throwing yourself into debt. You don’t need to forgo the home in lieu of Wedding, if you’re truly smart about your budget when you start planning. By setting a budget early and keeping an eye on it often, you’re preparing both of your futures for success!
