How To Set A Wedding Budget That Works For You

We get it; setting your wedding budget is not the most exciting task on your wedding planning to-do list! However, let's be honest, it is pretty crucial. Without a budget you'll likely overspend and even risk getting into debt and potentially dipping into your honeymoon fund (not cool). So, the thing you need to do is sit down with your soon-to-be spouse and get to work on crunching those numbers! But first, we've broken down what actually needs to go into the budget, considerations when setting your budget, and those pesky mistakes to avoid. Here goes...

So, what is a "good" budget for a wedding?

The average cost of a wedding in Australia currently stands at $33,810 (2024 Australian Wedding Industry Report), but don't panic if that seems high to you. The good news is you set your own budget! It's also important to remember that every couple's priorities are different. Your budget can be personalised in any way you want, but this wedding budget checklist gives you a great idea of how wedding budget breakdowns are traditionally split by cost.

There are plenty of creative, cost-saving ways to keep on track with your spending, whatever your budget. Keep reading for a breakdown of the average percentages per item, but remember, these vary by location AND time of year.

Wedding budget breakdown and cost-saving tips

Venue, ceremony and catering: 50%: That sounds a lot, right? But there's a lot to cover in this section! Your ceremony and reception costs will cover your venue hire for both your ceremony and reception - so it's worth deciding early on if you're planning to host the whole wedding in one place or if you want to get married at one location and then have the reception at another. If the latter, you'll need to budget for legal ceremony costs; this should cover the license and any paperwork you need, but if you're planning to hire a wedding celebrant, that will likely be a separate charge.

This part of the budget also needs to cover wedding catering for both the ceremony and reception, including any drinks, canapés and snacks you want to provide. If you're planning on hiring outside catering for evening food, this will be an additional cost to factor in, too.

While planning everything yourself may seem exciting at first, an all-inclusive wedding package can take a lot of the stress out of the process. Many venues have tiers to their packages with price ranges per head, which makes it a lot easier to work out what you'll spend once you know your guest list. Some venues may also offer a wedding planner or coordinator within the package, too. It goes without saying, accept the extra help with open arms!

Photography & Videography: 10%: After your wedding venue and reception costs, it's normal for couples to spend around 10% of the budget on wedding photography and wedding videography. Aside from your memories, the photographs and videos taken on your wedding day will be what you look back on in years to come and reminisce about your amazing day.

Many couples spend upwards of 10% of their budget on wedding photography and videography, even with smaller budgets, as they see this as a real priority. If you're on a really tight budget, ask your wedding photographer what the options are---some offer half-day or smaller packages, especially for outside peak wedding season.

Wedding Music and Entertainment: 10%: Let's clarify this early on: Wedding music and entertainment are two separate things that need to be considered in this section of the wedding budget breakdown---but if your budget is small, they can be combined into one. Wedding music is usually your wedding band, DJ, or iPhone playlist if you're doing a DIY job.

Wedding entertainment covers a much broader variety than just music - we're talking fireworks, magicians, and alpacas - if your budget permits, wedding entertainment can mean just about anything! If the entertainment is a huge part of the experience for you, you'll want to adjust your wedding budget breakdown accordingly and cut back on other areas if you need to.

Couples outfits: 10%: Whatever you and your partner choose to wear on your wedding day, try allocating close to 10% of your overall spending to your wedding outfits. Some people may want to spend much more than this on their wedding dress or suit, but be mindful that costs will have to be cut from elsewhere to make this happen.

This budget breakdown doesn't take into account bridesmaid dresses, flower girl or page boy outfits, and alterations. If you're planning on paying for those, you willl need to factor these into your budget.

Wedding Flowers, Décor and Favours: 8%: Your budget for flowers and décor can cover a wide range of things, so if you are navigating a smaller wedding budget, you'll need to prioritise. When it comes to wedding flowers, you need to decide who is having a bouquet---do you need one for each bridesmaid, flower girl, and maid of honour? Buttonholes, table centrepieces, and larger floral instalments all come under this umbrella, too.

If your budget for flowers and décor isn't big, opt for a wedding venue that requires little to no added decorations and consider DIY options for any extras, such as wedding favours. If you're on a super tight budget, consider making something to gift your guests or opting out altogether.

Cake: 3%: Wedding cakes have a practical purpose as well as a decorative one. Your wedding cake needs to be large enough to feed all of your guests, so couples planning a wedding with 100 guests on a small budget will need to order a large but simple wedding cake that will go around. No one wants to be without cake!

Wedding rings: 3% One of the most important aspects of your wedding ceremony is exchanging rings, and purchasing the rings is one of the hidden wedding costs that many people forget. If, like other couples, you decide not to include wedding rings in your overall wedding budget, you can transfer the 3% to another area.

Hair and makeup: 2%: One of the easiest ways to save money on your hair and makeup? DIY or enlist a creative friend's help. Why not look into beauty schools or mobile stylists? When it comes to the actual 'do', choose simple styles rather than overly elaborate designs.

Stationery: 2%: Invitations and stationery for the big day are crucial components of the planning process. Your stationery budget should include save-the-dates, wedding invitations, RSVP cards, envelopes, thank-you cards, and any additional on-the-day stationery you may want, such as menu cards, table plans, and place cards.

You are free to select the elements that are important to you and eliminate the ones that aren't, so if there's no need to use all of the wedding stationery listed above, simply leave it out. If you have a limited budget for wedding stationery, why not create a wedding website to share all the important information about your wedding and manage other elements such as the RSVPs and save-the-dates? This will ultimately help you save time and money on postage fees.

Transportation costs: 2%: Wedding transportation covers how you, your partner, and the wedding party travel to and from the wedding. If your ceremony and reception are at two different locations, you will also need to plan transport for your guests to travel from one to the other, so that cost also needs to be factored in.

What to consider when setting your wedding budget

1. Who's contributing: Determine who will pay for the wedding and how much each individual or couple will contribute. While some couples' families pay all or part of the costs, we know that many couples pay for their wedding alone

2. Finalise your guest count: After you know who is contributing and how much they will be contributing to the budget, it's time to finalise your totals. Add up each person's contribution to reach the overall budget for your wedding

3. Research, research, research! Once your totals are finalised, we advise you to look up average wedding prices in the area where your wedding will be held to determine how much you should budget for local vendors

Wedding budget mistakes to avoid

1. Not setting enough money aside: It's better to save more than you think you'll need than to underfund and assume everything will work out in the end. Even though you might be, there are some costs that might sneak up on you before, during, and even after your big day. Be ready for all that's required, plus a little extra, just in case!

2. Not keeping track of your spending: When you're not careful about keeping track of your spending, it gets harder to stay within your wedding budget. Record the amount spent in your wedding spreadsheet if you agree to pay for something or make a transaction

3. Not saving for hidden costs: When making your budget, there are a lot of wedding expenses you might not have thought of, ranging from small items like linens or your marriage licence to larger ones like tipping suppliers and your rehearsal dinner costs. To make sure you don't miss anything, take the time to compile a comprehensive list of everything you may possibly spend money on. Then, allow some extra for unforeseen expenses. You won't have to make adjustments or overspend later if you do this