Featuring a budget breakdown chart (with percentages!) to keep your finances on track.
Setting a wedding budget is one of the first—and, frankly, most important—planning tasks to complete. After all, you can't move forward with your vision until you know how much money you have to spend. But if you've been avoiding your wedding budget because it's stressing you out, we're here to help. It's no secret that wedding budget planning can feel daunting, particularly because weddings are expensive. In fact, The Knot 2021 Real Weddings Study found that the average cost of a wedding is $28,000 (excluding the engagement ring). If you've never hosted an event of comparable size before, the financial aspect might feel like a completely new world of terminology and rules. We'll let you in on a secret, though: Making your wedding budget doesn't have to be hard or scary. It can actually be downright simple, especially with the help of our comprehensive wedding budget breakdown.
Unlike other financial management tools out there, we have direct insight into what a typical wedding budget looks like for real couples just like you. Thanks to our annual Real Weddings study, we've created a wedding cost breakdown that's based on actual data—and we're revealing it right here.
Consider this the ultimate destination for wedding budget planning. Below, you'll find a sample wedding budget breakdown with percentages pulled directly from our insights, which will help you determine how to allocate the funds you have available. Plus, we also share the most important things to consider when making your budget, along with nine common mistakes to avoid, straight from industry experts.
When creating your wedding budget, it can be helpful to use a sample as a guide. And if you're a visual learner, seeing wedding budget percentages will help you understand exactly where to allocate various dollar amounts. Here, we've compiled a complete wedding budget checklist, which highlights the top expenses to include in your list. This wedding budget breakdown also indicates the general percentage each element should contribute to your overall spend, which we've calculated using our data
It's important to note, though, that this wedding cost breakdown is based on national averages and should simply be used as a starting point. You might also notice that the percentages don't add up to 100%—and that's on purpose! Your final wedding cost breakdown ultimately depends on a number of factors, like how much money you and your S.O. have to spend, the location and time of year you're getting married, and your top priorities. This will inform which expenses you ultimately include in your budget... which will be different for every couple. This wedding budget breakdown is simply to be used as a starting point to give you a general understanding of how to allocate your funds.
Venue: 30%
Unsurprisingly, the biggest chunk of your wedding budget will go to the biggest investment, which is often the venue. Our study found that couples typically spend about 30% of their overall budget on the setting of their nuptials.
Catering: 23%
Catering is another big-ticket item, taking up about 23% of the average wedding budget. (This is the cost-per-head for food items at your reception.) Depending on packages offered by your venue, this element may include alcohol and a cake. Some couples, though, opt to budget for those separately.
Band: 13%
Live entertainment will make your wedding day that much more memorable. Couples who choose to have a live band typically allocate 13% of their wedding budget breakdown to their performers.
Wedding Rings: 7%
Pro top: Don't forget to include rings in your wedding budget checklist. Excluding the engagement ring, we found that couples usually spend about 7% of their budget on wedding bands.
Photography: 7%
Photography is one of the best investments for your wedding. Great photos will last a lifetime and become prized keepsakes from the big day, making this a splurge-worthy purchase. To-be-weds usually spend about 7% of their wedding budget on their photographer.
Alcohol/Liquor: 7%
If your wedding venue package doesn't cover alcohol and you're planning on incorporating it into your nuptials, we recommend slotting about 7% of your budget toward this expense.
Flowers: 7%
Flowers can completely transform the look of your wedding. Plus, many couples opt to carry bouquets or wear boutonnieres too. We found that, on average, 7% of the wedding budget is dedicated to florals.
Videography: 6%
Much like pictures, a video will also memorialize your wedding day. We're big proponents of investing in a wedding videographer, because nothing will bring back your favorite wedding memories quite like a short film. If your wedding budget planning allows, we recommend setting aside about 6% for a videographer.
Couples Attire (Dress & Suit): 6%
Your outfits are key components of your overall wedding budget. Our data shows that couples typically slot 6% of their budget on their attire. This percentage should include the cost of the wedding dress and/or suit, along with shoes and any accessories, such as jewelry or cufflinks.
Wedding Planner: 5%
A wedding planner can make all the difference when it comes to your special day. After all, you can rest easy knowing that your celebration will go off without a hitch when you have a great professional taking care of all the details. Save 5% of your total budget to cover the cost of a wedding planner.
Lighting & Decor: 5%
In addition to flowers, lighting and decor are impactful ways to personalize the look of your wedding. This includes everything from candles to statement lighting installations, as well as signage, table displays, non-floral centerpieces, and other decorative elements. Use about 5% of your budget on these accents.
DJ: 4%
For those that want a DJ handling entertainment, we suggest using about 4% of your budget to cover their fees.
Guest Entertainment: 3%
Guest entertainment is an extra element of the wedding budget breakdown to consider if you have leftover funds available. This includes unique experiences, like live painters, dancers, additional musical performers, poets, tarot card readers, caricature artists, interactive food or drink servers, and more—the sky is truly the limit. Set aside 3% of your budget for this fun addition.
Transportation: 3%
Many couples like to hire transportation to ensure their guests get to the right venue at the right time. This may involve hiring a bus or shuttle to run to and from the hotels. Others like to hire a limo for the wedding party or an elaborate getaway car after the reception. Save at least 3% of your wedding budget for transportation.
Stationery: 2%
Wedding invitations and paper goods are very important details of your nuptials. Just think, your save-the-date cards and formal invitations are the first glimpses of your wedding that your guests will receive. This stationery budget will also cover your ceremony programs, menus, thank-you cards and more. Reserve 2% of your budget for your stationery suite.
Hair & Makeup: 2%
Earmark at least 2% of your budget for your hair and makeup. And while you certainly don't have to cover the cost of HMU for your bridesmaids or additional wedding party members, it's something to keep in mind when building out this portion of your wedding budget breakdown
Cake/Desserts: 1%
It's true that some venues include wedding cake or other sweet treats within their packages, but it's common for couples to outsource the dessert portion of their wedding. Whether you're planning to have a traditional cake or a spread of alternative sweets, use about 1% of your wedding budget here.
Wedding Favors & Gifts: 1%
One of the final pieces of your wedding budget breakdown includes the cost of party favors and gifts for those who made your day extra special. Some couples like to provide their guests with a parting gift to remember their wedding by. It's a small gesture that will go a long way. Set aside about 1% of your budget for these items.
Officiant: 1%
If you're hiring an officiant to legally marry you during the wedding ceremony, allocate 1% of your budget to cover these costs.
What to Consider When Allocating Your Wedding Budget
Now that you know what a typical wedding budget breakdown looks like, it's crucial to familiarize yourself with the top things to keep in mind when allocating your funds. As mentioned above, a number of factors go into how you actually spend your money. This means that no two wedding budgets will look the same. Here are five key factors to consider when determining how to allocate your wedding budget.
What You Can Afford
It's imperative to be honest about your wedding day expectations from the start. What you can actually afford will impact how you spend your budget. "The best way to stay on budget is to be realistic about what you are willing to pay each step of the way, from the venue to the vendors to your dress and accessories," explains Kristen Gall, retail expert and president of Rakuten Rewards. "Couples may need to compromise and cut back on spending in one area to get what they want in another. For example, you might cut back on the floral spend to account for your catering bill." Sit down with your S.O., as well as anyone else who might be financially contributing to your wedding, and have an honest conversation about what you have to spend, and how you should prioritize the investments.
The Guest List Size
The size of your wedding has a massive impact on the amount you'll spend. There's a per-head cost for food and liquor, and these two are typically the biggest expenses of the whole wedding. As a result, changing the guest list size is the surest way to increase or decrease your costs. Plus, with a smaller wedding, you'll save more on other details, including decor, stationery, favors and rentals, because you won't need as much of everything.
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