How to Budget for Your Chicago Wedding

Photo: Mark Horton Photos

So you’re planning a Chicago wedding and really the first thing we need to decide is how much we’re planning to spend. Sorry, I know, we don’t even know each other yet and I’m already talking about money, but let’s be allll the way FR, most of our conversations – as your trusted wedding magician – are going to be around money; so let’s just get comfy talking about it now.

Most couples who come to me very early in planning either have a budget in mind that is unrealistic or they come to me knowing they have no clue how to even set a budget – either way – when I tell them how much the wedding they just described to me is going to cost, it ends with that cliche deer in headlights look.

So let’s dive into some budgeting strategies:

Know which hill you’re going to die on: guest count or all in spend. 99.99% of the time, my couples’ initial guest counts and target budgets do not align, so the first homework assignment I’m giving them is to decide which is more important and we can build from there. 

Let’s use an example: J+C came to me this spring wanting to spend less than $60K and wanting to invite 200 people. An average catering proposal for 200 guests is going to run you easily $35K (possibly much more depending on a million factors). When you add in venue rental costs, a planner, photographer, DJ, floral + decor, transportation, hair and make up, and all of the other major and minor costs associated with a wedding, you don’t need to be a wedding budgeting pro to know that the math doesn’t math. J+C ended up deciding to meet in the middle. They increased their budget some and decreased their guest count to get us to a workable place.

I’ve had other couples with less financial wiggle room that have capped their budget and we’ve adjusted their guest count as a result. Others have expressed a disinterest in decreasing their guest count, but have had the financial wiggle room to adjust accordingly and I’ve helped them reset their spending expectations.

Set your spending expectations per person, instead of an all in total. All in totals all feel like a lot. $10K is a lot of money and so is $100K and so it’s largely unhelpful in deciding if a budget is “reasonable”. PP budget is more helpful in assessing the “reasonableness” of your spending target because even looking at average PP catering costs will help you check the reality of your spending expectations. Depending on, again, a million factors, the average PP catering costs in Chicago range from $160-250+ pp. If your target budget is $50K and you want to invite 200 people - my calculator app tells us that equals out to $250pp. Really quickly you can see that math doesn’t math and we have some expectations that need to be adjusted (see point 1). On the more economical side of weddings, $400pp is a good target, but depending on your tastes, venue selection, and again, a million more components, $500-600pp for a mid tier wedding, and $700pp+ for a higher end wedding is a good target.

Set your all in spending target as a range. Once you’ve done the work of checking your all in target against the PP test, set that target in a range. Example: Our target is $75-$85K. This is a helpful strategy because it allows you wiggle room within your own budget.

Decide what expenses are worth stretching to the higher end of your range. Once you’ve set your target spending range, decide what items would be worth it to you to stretch to the higher end of your range. Some examples: a trap violinist for cocktail hour might just be cool enough for your to make that stretch from $75K to $85K, but a videographer might not be. This will help you in making decisions once the money starts to feel like monopoly money.

Account for buffer and gratuity. Once you’ve set your target range, I recommend setting aside $3-5K in “buffer” expenses and 20% of all service contracts for gratuity. Ultimately, what you spend on gratuity is your choice, but this will help you plan for it on the front end, instead of panicking at the back end.

Work with a planner. I know, I know, I know. It seems like a shameless plug after telling you that the wedding industry wants your entire salary for the next year + your first born child to say “MONEY PLEASE!!!”, but you don’t have to give your money to me. Just give it to SOMEONE who knows what they’re doing, who can keep you from making really costly mistakes in the beginning, like ending up in a venue that’s commission fees and bar packages are going to bankrupt you before you even start.

Planning a wedding isn’t hard, but it is COMPLICATED. If you want a pal to spend the next year making wedding planning suck a little less, you can schedule a consultation here. And at a minimum, come back next week for a guide on everything you need to know about the Chicago Venue scene.