The Ultimate Wedding Planning Budget Checklist
Congratulations, it’s your big day, but not so fast there. Along with the big day comes some pretty big expenses. That’s why we’ve put together the ultimate wedding planning budget checklist.
With this wedding planning budget checklist, you will be able to move forward with your wedding planning with ease, knowing that you have considered all aspects of financing your wedding. Whether you’re planning a big wedding, little wedding, or even eloping, these are the hidden fees and financial considerations to worry about.
The Ultimate Wedding Planning Budget Guide
The first step to creating a proper wedding budget is getting to know yourself and the wedding that you want. Obviously, if you want 500 guests you will have to budget accordingly. There are only two types of weddings, small budget-friendly weddings and large more expensive weddings.
While there may be some wiggle room in the middle, it’s important to know what is important to you. Your wedding, fingers crossed, should be the best day of your life and (hopefully) the only time you celebrate in this way.
That means if you want a big party with all the fixing, this very well may be the only opportunity. On the other hand, your personality might lean towards a quieter close-knit wedding. Neither is right or wrong, it’s simply preference. Take the time to understand both the bride and the groom’s preference and work together to come to a vision.
The Financial Considerations of Wedding Planning
The Scholarly Coin is after all, a place for financial education, advice, and planning, so let’s dive into the finances of wedding planning.
According to Fidelity the average cost of a wedding (in 2024) is $33,000. That can be a pretty hefty chunk of change for most people. That’s why the first consideration is how you’ll pay for it.
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Financing a Wedding
If you’re lucky enough to have family (grandparents, parents, or that rich uncle) you may have financing lined up from your generous familial donors. It’s important to get expectations set before making any serious purchases.
It can be easy to assume someone will pay for something, but it is always best to have a conversation and set the proper expectations. You don’t want to rent that bouncy house only to learn that grandma wouldn’t cover it.
Having financial conversations can be difficult, but it pays off in the end.
If you aren’t as lucky as some and you see yourself paying for most of the wedding, then you need to evaluate your financing options.
Some ways to finance your wedding include:
- Savings
- Loans
- Bootstrapping
Let’s break down each one of them.
Savings
If you’ve been putting money aside, this is the time to use it. Savings are the most straightforward way to fund your wedding because you’re spending money you already have, with no interest, no monthly payments, no lingering debt.
The key is to set a realistic budget and stick to it. Pull from your savings in a way that doesn’t completely drain your emergency fund, so you start married life with financial security.
Read this article about saving (even if you’re a college student):
How to Save Up Money as a College Student
Loans
Loans can help fill the gap when savings aren’t enough, but they come with strings attached. Debt is a wedding guest that doesn’t leave when the party ends. If you choose this route, look for low-interest options and calculate what you can comfortably repay without straining your future finances.
Personal loans, credit cards, or even specialized wedding loans exist, but proceed with caution. Your wedding should be memorable, not a financial burden.
Bootstrapping
Bootstrapping is all about creativity and resourcefulness. This means finding ways to cut costs without cutting joy. Think DIY décor, borrowing items from friends, negotiating with vendors, having a backyard wedding or trimming the guest list to keep expenses lean.
Bootstrapping isn’t about sacrificing quality; it’s about making smart choices so you can celebrate in style without breaking the bank. A little ingenuity and frugality can go a long way toward keeping your budget under control.
The Wedding Planning Budget Checklist
If you have financing lined up and a budget in place, it’s time to make sure you know all the expenses that are coming your way. Remember you should still be financially responsible even if others are paying for the wedding. If you don’t already have a budget, then after reading this section you will have all the knowledge and tools to help you budget with ease.
There are dozens of categories to consider when planning your wedding. Some expenses are hidden, and others won’t cross your mind. Here is the wedding planning budget checklist of all expenses, starting from the largest expenses to the smallest expenses.
Venue
The single largest expense for most weddings is the venue, or venues. Venues can cost anything from free (like your backyard or a local church if you know the right people) to 10k+. Many people have a ceremony site and then a reception venue. This is a big line item, so make sure to plan accordingly.
Wedding Planning Budget Checklist:
- Ceremony rental
- Reception rental
- Are decorations included?
- Is staffing included (bartenders, event coordinators, and servers)?
Catering
Catering is another huge expense. The fancier the dinner and the larger the guest count the more it will cost you. Food is certainly not something to skimp out on. You will have to pay for the actual catering, as well as delivery fees, staffing, and any other special fees. Try the catering food before making a decision, and keep in mind if you will have appetizers and dessert as well.
Wedding Planning Budget Checklist:
- Plate cost or buffet cost
- Dessert and appetizers
- Late night snacks
- If silverware is included
- Number of entrées and sides
- Delivery, staffing, or additional fees
- Vendor tip
Wedding Attire and Rings
It’s no surprise that wedding attire can be expensive. A wedding dress itself can cost thousands of dollars, only to be worn once. A perfectly tailored custom suit will also have you breaking the bank but can often be less expensive than a wedding dress.
Wedding bands or jewelry of any kind is also an important consideration. If elaborate jewelry is what is important to you, then be prepared to pay for it. Wedding bands can range anywhere from $300-400 all the way up to $5k-10k.
If wedding attire is less important to you then this can easily be a place to save money.
Wedding Planning Budget Checklist:
- Wedding dress and bridesmaids dresses
- Suits for groom and groomsmen (including ties and shoes)
- Jewelry (bands, bracelets, necklaces)
- Veil
- Makeup
Photography and Videography
When it’s your special day you don’t want to miss any moments, and you also don’t want to forget any moments. Paying for a good photographer and videographer is a must. These photos and videos will last a lifetime, and they will bring you right back into the moment. Good photographers and videographers will also capture all the little unseen moments that you can relive anytime you look at them.
Don’t cut costs for a good photographer. This is one of the most important parts of your budget.
Wedding Planning Budget Checklist:
- Photographer and Videographer
- How long you want them to film and photograph
- Back up photographer/secondary
- Drone shots or elaborate filming
Drinks/Open Bar
Some people’s favorite wedding activity is forgetting that the wedding even happened. You’ll need to consider the costs of having an open bar or paying for the guest’s first drink, or if you want alcohol at all, not to forget, you’ll need a form of transportation for the guests who are less then eligible to drive.
Wedding Planning Budget Checklist:
- Cost of drinks
- Cost of bartending (and tipping)
- Cost of shuttle
Decorations and Addons
There are thousands of ways to decorate for a wedding and very few of them are cheap. You will need to think about table decorations, arches, signs, silverware, tablecloths, games, flowers, bouquets, and much more.
Decorations are the one area of wedding planning that never seems to end. You can always find more to add and nitpick at all the little details. If you enjoy the details, you can be really creative in this area, and you can spend a lot of money or you can keep it minimalistic.
Wedding Planning Budget Checklist:
- Will you buy or rent decorations?
- Are chairs and tables included in the venue?
- Lighting, table decor, signs, aisle liners, flowers, baskets, bouquets, arches, handouts, disco balls, etc.
Guest Accommodations
Depending on your desired wedding you may have to accommodate guests with hotels, shuttles, and party favors. These can be quite pricy depending on where you have your wedding. A ski lodge wedding is going to cost ski lodge money.
Now it’s not common for the couple to pay for everyone’s housing needs, but it is often their responsibility to, at minimum, plan for them.
Wedding Planning Budget Checklist:
- Hotels onsite or offsite
- Shuttles
- Party Favors
Entertainment
This cost takes people by surprise. If you want a DJ, an emcee, or any live entertainment, that can cost you an arm and a leg. Many couples want live music or a DJ, so it’s important to budget accordingly.
Entertainment spans more than just DJ’s though, it also includes the cost for speakers and sound systems for speeches, toasts, and event coordinating.
Wedding Planning Budget Checklist:
- Sounds systems
- Staffing
- Lighting
- Setup and takedown
Planning and Coordination
We can’t forget about the beloved rehearsal dinner, wedding planner, and event coordinator either. Most people plan their wedding out perfectly and have an event coordinator to help them on the day of.
Unfortunately, that is another cost for the couple to bear. If you want things to go according to plan, then this is a must have.
Wedding Planning Budget Checklist:
- Wedding Planner
- Wedding Coordinator
- Rehearsal Dinner
Miscellaneous Expenses
This is the last category, and it includes all of the little expenses that are incurred. These expenses are anything from legal fees to gifts for the parents.
This is where all the uncategorized expenses are.
Wedding Planning Budget Checklist:
- Officiant fee
- Marriage license fees
- Name change fees (driver’s license, passport)
- Notary services (if required)
- Umbrellas or fans for outdoor ceremonies
- Coat check service
- Photo booth rental
- Props for photo booth
- Games or activities for kids
- Parking attendants or valet
- Thank-you cards and postage
- Taxes and service charges
- Emergency fund for unexpected costs
- Honeymoon (this is a big expense)
Does a Wedding Really Cost That Much?
If you’ve made it this far into the list, then you might be wondering if budgeting for a wedding is really this expensive. The truth is, it doesn’t have to be, but it can be.
Many people, myself included, have chosen the more affordable route to having a wedding. After all it’s a celebration of the joining of two people, not just a big party with all the new toys. Some people enjoy big parties and others don’t.
For me, it’s more about financial responsibility than anything. I would rather have that money to put towards investments or a house than a party that I am going to love no matter what. Ultimately, it’s up to the couple to decide what is best for them.
The Ultimate Wedding Planning Budget Checklist Recap
Your wedding is your big day and you get to choose to spend on what you find important. Finances will always play an important role in the decision-making process, but it shouldn’t be the only contributing factor.
This ultimate wedding planning budget checklist is here to give you ideas on what expenses are out there so that you can plan your wedding with no surprises. Another article about saving on wedding expenses can be found here.
What expenses are missing from this list? What ways have you found to save money or plan effectively for your wedding?
Until the next article.
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**Hi, I am your author Ryan Lisota, and I am on a journey to educate students of all ages. I am young, just like you and I have a goal to be on Forbes 30 before 30. Help me make that dream come true by reading another article here or subscribing to my newsletter here.**
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