Every year 2.3 million couples wed. That breaks down to nearly 6,200 weddings per day. Are you one of the newly engaged that will be planning the event you want to remember forever? If so, you are going to enjoy our Wedding Series on our ASE Credit Union blog. I will try to tackle everything you need to know about planning your dream wedding.
I am not an expert in this field, so I have asked for help from one of Montgomery’s top Wedding Planner’s Kavonda Rogers of Weddings by Vonda.
So here is what Kavonda has to say about…
The question was asked and you said yes. Every time your left hand moves you catch a glimpse of your engagement ring. Yes. Your engagement ring. Yes! You’re getting married. You have told your parents, family and friends. Now what do you do? Make a wedding dress shopping appointment? Ask every friend you have known since kindergarten to be a bridesmaid? No; that is not the first step. The first step to wedding planning is not as fun. Nor it is most people’s favorite subject: money!
The average wedding in the United States cost $29,600.00. The average wedding for the River Region (Montgomery and surrounding areas) is $18,765.00. That is for 150 guests. There is one hard and fast rule of wedding planning which is more guests=more money.
So, now that we know the average costs of wedding let’s talk about creating a number that works for you.
Here is my rough estimate formula for wedding budgeting. Think about your restaurant. I know it seems strange but food is 35% of your wedding budget. You got your favorite restaurant in mind. Great! Now think about the cost of your favorite meal there including drink. My favorite restaurant is Outback. My favorite meal at Outback costs around $35.00. So, most people chose their wedding meal by their favorite meal. So, if my favorite meal cost $35 and I want to have 125 people at my wedding I use the following formula.
In my case it means:
$35.00 X 125 guests= $4,375.00
Most professional caterers and venues charge a service fee of anywhere from 19-22%. They also charge tax as well. So, now we have $4,375.00 X 32% (21% service charge plus tax) = $1400.00.
Your base food cost for 125 guests is $4,375.00 + $1400.00= $5775.00
In addition to food you need to make allowance for alcoholic beverages, décor (ceremony and reception), cake, invitations, programs, attire (bride’s dress, groom’s tux and accessories), flowers, entertainment etc.
So, money is the biggest thing to settle before you start planning. Also, keep in mind that couples without a clear budget usual spend $5-10,000.00 more than expected on their weddings. Next time we will be discussing the often coveted and often hated wedding planners. What do they really do?
By: Kavonda L. Rogers [email protected]
Owner/Lead Planner & Designer
Weddings & Honeymoons by Vonda
Lori Cummings [email protected]
ASE Credit Union Loan Information: www.yourASEcu.com/loans