If you’re starting to plan your wedding, or you’re in the middle of it, managing your budget can be a struggle. I’ve got some hair raising news for you - in 2018, the average Australian wedding cost $51,245.
So, what are us wedding crazed Aussies spending the cash on? Here’s a mind blowing breakdown:
Wedding dress $5,180
Groom’s suit $1,834
Engagement ring $10,423
Venue $21,250
Honeymoon $8,547
Florals/Styling $6,704
Entertainment $2,514
Bridesmaid dresses $929
Groomsmen suits $1,087
Videographer $3,507;
Photographer $3,611
Hair $515
Makeup $475
Cake $990
Transport $828
Interesting that this breakdown doesn't include a celebrant. Sadly, with no celebrant, it's a party, not a wedding.
So how can you have the wedding of your dreams without it costing you a packet? Well, it really depends on how big a packet you have! I know people that spent $10,000 on their wedding and I know others who spent $80,000. How you spend your money really depends on how much you have to start with. Most people don’t have $80,000!
Step 1 – Decide on the type of wedding you want and figure out how much you want to spend. Talk to your partner and family to see how much you, and/or they, can contribute. Figure out what sacrifices you’re prepared to make to save the money – will you move back in with your parents, get a loan, dip into the savings, put if off a year, go the local golf club instead of the Hilton? And most importantly, include a contingency fund in case you decide you simply cannot live without the $5,000 wedding dress when you only budgeted $2,000.
Step 2 – Shop around and get quotes for EVERYTHING. Wedding vendors are just like any other businesses – they offer a range of options at different costs. Will you be just as happy with the $400 cake as you would with the $1,000 cake?
Step 3 – Prioritise your costs. Decide which parts of your wedding are the most important and allocate the highest percentage of your budget to that. Are you prepared to spend less on the dress so you can get the more expensive photographer? Are you prepared to have the cheaper drinks package so you can get the nicer car? Are you prepared to make your own invites so you can get the best celebrant?
Step 4 – Be brutal with your guest list. This is tough, depending who’s paying for it, so have the conversation early on. Set your limit and stick to it. If there are people you’re dying to invite but just can’t, add them to the reserve team so you can invite them if others can’t make it. People are totally ok with that if you explain it. I’ve been on the reserve team a few times and the weddings I’ve ended up going to have been some of the best!
Step 5 – Hit up friends where you can. If they’re part-time photographers, DJs, cake makers whatever, sign them up! A lot of times, they’ll be happy to do it as your present so think of everyone you know and how you can put their amazing talents to good use!
And finally, look at some resources to help you plan your budget. Put in the prep work before you start so you can minimise the stress as much as possible. Happy planning, and happy spending!