Congrats! You’re engaged. Now it’s time to plan for the most exciting party of your life!

It’s not too late to get married this year, but if you’ve already started searching for venues and putting together your guest list, you’re likely experiencing sticker shock. In 2024, the average cost of a wedding is expected to be upwards of $30,000, not including an engagement ring. With that in mind, creating a wedding budget is the most important task that needs to be checked off your list.

Let’s discuss how couples can best budget for a 2024 wedding and explore areas to save money on your big day.

How to allocate your budget

Budgeting for your wedding can feel quite overwhelming. Who knew that flowers could cost so much money? From venue to music to dessert, your budget will likely follow this template:

• Venue and Catering: 40%
• Photography and/or Videography: 15%
• Music and entertainment: 10%
• Flowers: 10%
• Decor: 10%
• Wedding Attire, Hair, Makeup: 5%
• Transportation: 4%
• Cake or dessert: 2%
• Invites: 2%
• Favors: 1%

Unsurprisingly, the biggest portion of your wedding budget will be allocated for the venue and catering. However, all of these percentages are generalized and will likely change depending on you and your partner’s vision and goals. Perhaps you’re having a backyard wedding instead of renting a venue, or your cousin is a photographer and is photographing the wedding as a present.

4 steps to create a wedding budget

1. Assess your current savings

The amount of money you have saved will be the baseline for your wedding budget. You’ll need to answer several questions:

• How much can you and your partner comfortably afford, including everyday expenses like rent or car payments? 
• Based on your monthly income, how much can you save each month for a wedding? 
• How much are you willing to take out from your current savings?

2. Establish who is paying for the wedding

It may be just you and your fiance covering the bill for the wedding, but sometimes parents or other family members want to chip in for the big day. Either way, you must determine who will contribute to your wedding to calculate your budget. We understand that sometimes, money conversations with parents and family can be awkward, but it doesn’t have to be, and trust us, you’ll want to know this information before you sign any contracts. Go into these discussions with no strings attached or expectation of others chipping in.

3. Determine your wedding priorities

Once you figure out who is paying for the wedding, you need to sit down with your partner and determine your wedding priorities. And, spoiler alert, you will both likely have differing priorities —but that’s okay! Ensure that you both get one ‘non-negotiable’ item that’s budgeted for. Whether it’s flowers, food, music, or apparel, decide what’s most important to have on your wedding day and create a budget around it.

4. Talk about your future investments and goals beyond the wedding

While your wedding may be considered the most important day of your life, it’s just that, one day. So before spending all your hard-earned money on a wedding, consider your goals beyond a wedding. Maybe you want to buy a house in a few years or start a business requiring a lot of capital upfront. Achieving future goals doesn’t mean you can’t have the wedding of your dreams; it just means you’ll have to be strategic about your budget and financial plan.

How to save money on your wedding day

There are several ways to cut back on the cost of your wedding without having to sacrifice your vision. Oftentimes, just a few small swaps can help couples save big. Here are just a few creative ways you can save money on your wedding day:

1. Book your venue as early as possible: The early bird gets the worm…or the venue at a better price. The longer you wait, the more likely you will have to pay more for a venue to accommodate your guests.
2. Opt for a more unique wedding venue: Big, fancy reception halls are typically the most expensive venues. Choosing a less traditional venue like a barn can cut costs considerably.
3. Choose an off-season date or weekday: The most popular day to get married is on a Saturday, with Fridays being a close second. Opt for a Sunday or weeknight wedding to save substantially on venue costs!
4. Minimize the guest list: There’s a big cost difference between a 150-person wedding and a 70-person wedding. Cutting the guest list means saving on meals, rentals, drinks, centerpieces, and more.
5. Find an inclusive venue: An inclusive wedding package can include everything from a day-of planner to catering to entertainment. It may be a big expense up-front, but once you itemize everything, an all-inclusive venue is generally more cost-effective.
6. Reuse your flowers: Flowers can be a large expense, so why not use them for as many purposes as possible? Your ceremony flowers can be used to decorate your reception and bridesmaid bouquets can easily be transformed into centerpieces.

A dream day at Cornman farms

At the end of the day, how you plan and budget for your wedding will depend on your priorities and goals. Take some time to talk through your dreams and desires with your partner to discover what you both want and how you can prioritize those items. Open communication with your partner can help ensure that money isn’t a stressor on your wedding day.

Our team at Zingerman Cornman Farms can help ensure that your wedding day is stress-free from start to finish. Get in touch with our team to take a tour of our stunning barn wedding venue in Ann Arbor to learn more about our inclusive elopement and intimate weddings.