Creating your Wedding Budget

You're engaged! Congratulations -- take a minute and bask in the glow. When you are ready to plan your wedding, the first step is to develop a detailed budget. CNN reports the average wedding costs around 28,400 dollars. From the photographer to the DJ, each wedding vendor has his or her hand out looking for a payday. A practical, no nonsense budget puts it all into prospective by outlining what you can spend in each category.

Who's got the Check?

Where are the wedding funds coming from exactly -- that is a good place to start. Historically, the bride's family pays for the bulk of the couple's wedding, but times are changing. USA Today explains modern weddings are more of a group effort.

• Bride's parents = 45 percent
• Groom's parents = 12 percent
• Couple = 42 percent
• Other sources = 1 percent

There is no right or wrong answer. A couple who can pay for their wedding should do so if the parents have limited resources, especially if they are older. The best approach is for the couple to estimate what they can contribute before asking either set of parents for help.

It might even be wise to develop a hard and fast list of necessities to present with the request. This gives your parents something tangible to consider. They might offer to pay for the photographer, the dress and the flowers, for example, instead of just putting a set figure on the table.

Create a Wedding Plan

This begins with you deciding as a couple what type of wedding you want. Are you looking to go all out with a black tie affair or is a backyard celebration more your style? You have an idea of how much you can spend, now build on that total to create your wedding vision. If mom and dad are offering to pay up to 30,000 dollars, for example, you can afford something grandiose. If you need to keep the event under 5,000 dollars, however, you want to go in a different direction.

Location, Location, Location

Location for both the ceremony and the reception are keystones to the budgeting process. Assume the location, especially the reception, will be about half the budget. Location for the reception covers more than just a place to celebrate. Those funds will go for food, drinks, the cake and any specialty items like ice sculptures and favors. Since half your wedding budget is dependent on location, settle that issue first.

Divvying up the Wedding Funds

You already know a little over half of the money goes to the various locations. Specifically, three percent to cover the wedding ceremony including location and officiant fees, marriage license, wedding music and ring pillows. Forty-eight percent is for the reception including food and drinks. The rest of the budget looks something like this:

• Clothing = 10 percent -- dress, headpiece, undergarments, shoes, jewelry, hair, make up, the groom's tux and accessories
• Rings = 3 percent -- this is for his and her wedding rings only, not the engagement ring. This would also cover engravings if desired.
• Flowers = 8 percent -- bouquets, centerpieces, corsages and boutonnieres -- anything floral goes here
• Reception music = 8 percent -- live band, DJ, sound system rental -- whatever it takes to get them dancing
• Photography = 12 percent -- this is both still and video photography
• Transportation = 2 percent -- covers transport for the couple and the wedding party plus guest shuttles if available or parking expense
• Stationery = 3 percent -- invitations, RSVP cards, location maps, thank you notes, postage, guest book
• Gifts = 3 percent -- welcome baskets, bridesmaids and groomsmen gifts

Being Practical about the Wedding Budget

Even though you want the best wedding possible, don't lose sight of the end game. A wedding is a symbol that means a start of your new life together. It is up to you whether you want to spend that life owing a bunch of money to various vendors or if want to take a more practical approach for your special day.

You have wedding budget, so stick to it. If your dream dress is going to put you over the top, keep looking. You might find another one that makes you happy and keeps you on target. If you find the more expensive dress is a necessity, plan to cut elsewhere to make up for it.

It is easy to create a domino effect when planning a wedding. The dress might cost a little more than you thought it would, but it's just a little, right? Except, the flowers are going to be more too and so is the transportation. Before you know it, you are several hundred dollars over in most categories and you have drained the wedding funds before paying all the vendors.

Ways To Save

If you do find yourself over budget, don't panic. There are ways to cut costs without giving up the extra touches you want for your day.

Cut the guest list in half -- Cut out anyone who you have not seen for a year unless they are family. You can also cut out coworkers unless you socialize with them outside of work.

Reconsider the date -- Planning a wedding is a lot like planning a vacation -- there are peak days when the price goes up. Having the wedding on a Friday or a Sunday can save you about 20 percent per guest. Planning the reception in the afternoon can cut the bar expense, too.

Slice the cake in half -- Most wedding cakes are bigger than necessary. If you are inviting 150 people, order a cake for 75 and cut smaller pieces.

The wedding is one day in your entire life together. A budget celebration in your parent's yard can be just as memorable as one held in the grandest of halls. With a practical and well thought out budget, you can have the wedding you want while keeping the expenses in check. 

Samantha Hunt works at eInvite, an online retailer of wedding invitations, stationery, bar and bat mitzvah invitations, save-the-dates, birthday party invitations, and other custom paper goods. To learn more, visit www.einvite.com.