How to Plan a Wedding on a Budget

Weddings can be expensive, but with the right tips, you can plan a wedding that fits your budget. In this article, we will take a look at wedding planning tips that you can use to stay on budget while still making your day special.

by Spero Financial

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You’ve just had one of the most exciting moments in your life, you got engaged! Congratulations! After calling all of your friends and family and showing off the new bling on your finger, the reality will start to set in that now is the time to start planning a wedding.

Planning what will be one of the most important events of your life doesn’t have to cost a fortune. In fact, there are plenty of ways to cut down on the expenses of your big day without having to sacrifice the parts that make it special. Let’s take a look at how to set a budget for your upcoming wedding, explore the benefits of setting a wedding budget, and dig deeper into some budget examples to give you some inspiration for the day that you say “I do”.


Benefits of Setting a Wedding Budget

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Sitting down with your spouse-to-be and planning a wedding budget can be a good exercise in having financial conversations, as you will likely have many more in the future about other life events. Being realistic about what you can afford will better your financial health in the long run, because really, there’s no need to go into debt over a wedding, even if it is an important occasion.

By setting a budget, you and your partner can also decide if there are other things that this money could be better spent on, such as a honeymoon or a down payment on a house. You will be able to decide on which parts of the day are most important to you, and you’ll be less likely to overspend on frivolous details that may not matter as much.

How to Set a Budget For Your Wedding

Wedding site The Knot has a recommended budget percentage breakdown to follow when setting the budget for your big day:

  • 50%: Venue, Catering, and Rental Costs
  • 12%: Photography and Videography
  • 9%: Attire, Hair, and Makeup
  • 8%: Décor
  • 7%: Entertainment
  • 3%: Wedding Planner
  • 2%: Stationary
  • 2%: Officiant
  • 2%: Transportation
  • 2%: Wedding Band Rings
  • 2%: Party Favors and Gifts

Before you make the ask, make sure you know the annual schedule for corporate budgets. Oftentimes, once an annual bHaving a budget breakdown is handy as it can help you decide what your non-negotiables are for your wedding, and which elements you can live without. For example, you may be dead set on having a photographer during the ceremony, but you would rather plan the wedding yourself and don’t have a need for a wedding planner. Or, 8% of a budget dedicated to decor may seem like too much, so you decide to DIY and cut down on that cost.

What is a Typical Wedding Budget?

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According to wedding site The Knot, the average cost for a wedding in 2021 was $22,500. Most couples also admit to going over budget when wedding planning. However, $22,500 is quite a bit to spend on a one-day event, and your wedding budget can easily be well below this figure with some smart budgeting and planning. 

As a general rule, most event planners agree to plan on spending $100 per guest. Knowing this, one of the easiest ways to cut down on the cost of a wedding is to limit the number of invites on your guest list. Another stat to keep in mind is that the venue and catering typically take up the bulk of a wedding budget at approximately 50%. The other 50% can be allotted based on those things that you decide are most important.

Wedding Budget Examples

No matter what your budget is, there are options for making your day special. Whether you’re looking for a low-key ceremony or an extravagant affair, we have a budget example to kickstart your inspiration:

Wedding Budgets for $1,000 and Under

  • Venue: $0 in a backyard or public park
  • Food and Beverages: $400 for a meal prepped by friends and family
  • Photography: $100 to pay a talented friend to take photos
  • Attire: $300 to rent the dress and tux and do makeup and hair yourself
  • Flowers: $150 for DIY bouquets and decorations
  • Entertainment: $50 for a Bluetooth speaker and fun playlist

Wedding Budgets for $2,500

  • Venue: $400 for a church rental
  • Food and Beverages: $1,000 for a catered buffet
  • Photography: $300 for a photography student to take pictures
  • Attire: $300 to rent the dress and tux and do makeup and hair yourself
  • Flowers: $300 for DIY decor with the help of friends
  • Entertainment: $100 for a nice Bluetooth speaker and fun playlist

Wedding Budgets for $5,000

  • Venue: $1,800 to rent a barn venue off-season
  • Food and Beverages: $1,000 for a catered buffet
  • Photography: $1,000 for a wedding photographer
  • Attire: $700 to rent the dress and tux and get a friend’s help with hair and makeup
  • Flowers: $400 for DIY decor with the help of friends
  • Entertainment: $100 for a nice Bluetooth speaker and fun playlist

Wedding Budgets for $10,000

  • Venue: $4,000 for a wedding venue peak season
  • Food and Beverages: $2,000 for plated catering
  • Photography: $1,000 for a wedding photographer
  • Attire: $1,000 for a dress and tux rental
  • Flowers: $400 for DIY decor with the help of friends
  • Dessert: $600 for a cake
  • Entertainment: $1,000 for a DJ

Wedding Budgets for $15,000

  • Venue: $4,000 for a wedding venue peak season
  • Food and Beverages: $2,000 for plated catering
  • Photography: $3,000 for a wedding photographer and videographer
  • Attire: $1,800 to buy a dress, $200 tux rental
  • Flowers: $400 for DIY decor with the help of friends
  • Dessert: $600 for a cake
  • Entertainment: $3,000 for a live band

Wedding Budgets for $20,000

  • Venue: $4,000 for a wedding venue peak season
  • Food and Beverages: $2,100 for plated catering
  • Photography: $3,000 for a wedding photographer and videographer
  • Attire: $2,500 to buy a dress, $200 tux rental
  • Flowers and decorations: $1,500 for fresh floral bouquets, boutonnieres, and decor
  • Wedding Planner: $3,000
  • Dessert: $600 for a cake
  • Entertainment: $3,000 for a live band

Although the thought of planning a wedding can be overwhelming, now you know that it doesn’t have to break the bank to be a special occasion. Set your budget, be smart with your planning, and in no time, you will say “I do” to the event of a lifetime!


This material is for educational purposes only and is not intended to provide specific advice or recommendations for any individual.

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