Every wedding or event needs a clearly defined budget. Whether it’s $1,000 for a small private function or $50,000 for a wedding, having a budget will help guide your decisions while not breaking the bank.
Did you know that in 2018, the average Australian wedding spend is $55,000? Wow! For a lot of couples, that’s simply not affordable, feasible or smart, especially if you have a family, a mortgage or other more pressing expenses. Maybe you have financial help from parents or family, but even still, there’s no need for you or your family to be left with significant debt well after your event is completed. Your budget should work for you and your partner while allowing you to meet your other financial deadlines or goals as well. Besides, there are no awards for the best or most expensive wedding!
Before you begin planning your event, make sure you sit down with your partner to ensure you’re on the same page. Consider different factors like the size of your guest list and bridal party, your intended style of food and beverage service, and any other major expenses like accommodation or a marquee. You should also clearly define what your budget will cover. Will it cover the on-day expenses only? Or will it include attire, accommodation, pre & post event celebrations or your honeymoon too?
It may be wise to include other key financial contributors in this conversation too. Knowing exactly what everyone is prepared to contribute (either financially or in-kind) might save you from awkward conversations or unexpected expenses down the track. For example:
- You have a parent who is prepared to cover the bar tab. Is this truly regardless of the cost or does this offer have an upper limit? In their head, your parent might estimate this will be a $3,000 expense but if your guests are heavy drinkers who will push this to $5,000, who is paying the extra $2,000?
- Your friend has offered to lend you their backyard for a home-style wedding. Will they allow guests to use the indoor toilets or the caterers to work out of the kitchen? Or will you need to hire toilets and a pop-up kitchen? Will your friends be preparing and maintaining the lawn ahead of the wedding or is that your expectation and responsibility?
Having these honest conversations up front will help manage everyone’s expectations.
There are many ways to bring your event together within your budget, a big part of which is choosing the right vendors and suppliers. We’re hugely passionate about helping you stick to your budget; we’ll recommend the most suitable suppliers for you and negotiate depending on your needs and vison. We can make tailored budget saving recommendations, whether it’s finding the more affordable day or season for your event, or helping you take advantage of supplier specials and promotions.
If you have are planning an upcoming event and want expert advice and guidance on how to stick to budget, we’d love to hear from you!