One of the most important aspects of the wedding planning process is deciding what your wedding budget will be. How much "should" a wedding cost, you ask? Well there is no right answer. The wedding budget is as individual as the couple themselves. That being said, the average cost of a 150-person wedding is $25,000-30,000. According to The Knot.com the budget is typically broken down with the following percentages:
Wedding Rings: 2%-3%
To avoid stress, allot about 5% of your budget for a "just-in-case" fund.
If you are paying for your honeymoon yourselves, remember to budget for that as well!
Once you have decided on your total budget number, the next step is determining your priorities. Both the bride and groom should make a list of their top three priorities for their wedding, for example photography, cake and flowers. Once your top three are decided, allocate a little bit more to them; then do the opposite for your bottom three choices.
Once you have your budget drafted, start making phone calls for your top three priorities to see if they are close to your budget. Before you start attending lots of meetings and signing contracts, get estimates on a few things to make sure your budget is realistic. If not, go back to the drawing board before moving forward!