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Before Things Get Carried Away...

First things, first. Budgeting is a challenging, yet crucial step to understand what you can afford when planning your wedding. It determines how you will celebrate, with whom, and at what caliber.

According to The Knot's Real Weddings Study - the average wedding cost, as of 2022, was $30,000. That's up from $28,000 in 2021. Inflation hits hard, especially in novelty markets.

The Good News - wedding costs varies greatly, dependent upon your venue, how large of a celebration you'll host, and other hospitality factors, including food, entertainment, accommodations - the list goes on.

Here's What to Consider When Crafting Your Wedding Budget:

  1. Runway to the Wedding - How long do you have to save and pay? The longer the timeframe, the easier it is on the pocket RIGHT NOW. Your engagement period will determine your spending strategy, if you will be able to pay as you go, lean on savings, other contributors (those wealthy long lost uncles come in handy right about now) utilize credit cards, and financing and payment structure options through vendors. It doesn't have to be scary - there are ways to plan without getting carried away.

  2. Nuptial Savings - When it comes to wedding planning, one or both of you may have been saving for the big day and can combine forces to help pay for large expenses. Consider this your first obstacle course, with some creativity and compromise - you'll find a way to craft a unique event to remember for a lifetime, without accruing unsurmountable debt. We recommend looking at your entire portfolio to determine the smartest spend - whether it be liquid savings in the bank, investments that can be liquidated without penalty, stocks, cashable bonds, or even money stuffed under the mattress or in the freezer.

  3. Contributors - Not everyone has a parent, sibling, aunt or uncle that are willing or able to contribute to the big day. If you do, either by providing funds or services, be prepared to share information, a clear understanding of how they will or won't participate, and if they have a say. Determining this up front will help you stay out of sticky situations later (personally or financially), and will also allow you to operate with a clear understanding of what your true budget is.

  4. Non-Negotiables - Come to the budgeting table, ready to share your top priorities. Each couple is different, it is important to sit down together and identify what is most important to you for your unique celebration. Make a list of must-haves, nice to have haves and pie in the sky items. Budget accordingly, do you need to have a sit down meal or could you have a hors devoirs and cocktail hour? Is it important for you to have a formal band, DJ or are you comfortable with your own music and sound system? You'll find the balance of what is a need vs. a want together and adjust accordingly. This is also an area your planner can help! They have been in the business and seen ways to save that you may not have considered.

  5. Do Your Homework - We can't stress this enough. So many couples get 80% through planning, almost to their wedding day and feel like "why didn't we just elope?". To avoid this feeling, we recommend you dig through the wedding sites, talk to a planner, talk to your married friends, maybe even your parents to learn where the pitfalls may be. Costs easily creep up and arming yourself with information and partners in crime is important to ensure you feel confident in your budgeting, planning and execution of your big day. Begin with the end in mind - you're meant to feel joyful and happy on the day of!

As always, we'd love to meet you! We use consultations to get to know you and understand if we would be the right fit for you to ensure your wedding day is timeless and meaningful.

Give us a call - (515) 978-1448

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