How to Set a Realistic Wedding Budget
Setting a realistic wedding budget is one of the most important early steps in the wedding planning process. At Terrace 167, we have no hidden costs! Our venue rental includes all tables and chairs, lighting, bridal and groomsmen quarters, staff, decor in the venue, and more. Here's a clear, step-by-step guide to help you build a budget that works for your wedding vision and finances:
1. Determine Who's Helping Contribute
Talk to all parties involved (e.g., parents, guardians, you and your partner).
Ask directly how much each person is willing to contribute (not just "help out").
Add those amounts together to define your total available budget for the wedding.
2. Set Your Absolute Maximum
If you and your partner are funding it yourselves, look at your savings and income.
Be honest: How much can you realistically afford without going into debt? This is important!
3. Estimate Guest Count Early
Cost is often driven by headcount: more guests = more food, drinks, invitations, etc.
Make a draft guest list to get a rough number of people.
4. Prioritize What Matters Most
Rank your top 3 wedding "must-haves" as a couple (e.g., venue, photography, dress, live band, food).
Allocate more money toward those and cut back on less important areas.
5. Create a Budget Spreadsheet
Include:
Estimated cost per category
Actual cost as you book vendors
Payment due dates
Google Sheets or Excel templates work great for this.
6. Leave Room for Surprises
Set aside 5–10% of your budget for unexpected costs:
Tips
Last-minute rentals
7. Track and Adjust As You Go
Stay flexible. If you overspend in one area, cut back in another.
Keep receipts, invoices, and contracts organized.
Bonus Tip:
Don't forget post-wedding expenses, such as:
Honeymoon (if included in the budget)
Thank-you cards
Dry cleaning or preservation of dress/suit
Creating a clean, clear budget will help reduce stress, keep you from overspending, and keep all things wedding related organized in the same place.
Thanks so much for stopping by our blog!
As a locally owned, family-run wedding venue north of Milwaukee, we understand the unique value that independent venues bring to the wedding industry. Like us here at Terrace 167, these venues are committed to creating unforgettable experiences, offering personalized service, and going the extra mile for every couple. We’re proud to be part of a community that prioritizes quality, connection, and heart.
Below is a curated list of other locally owned wedding venues across the United States—each one dedicated to delivering exceptional celebrations in their own special way.