Wedding & Event Budgets
Hello there. I am Lorenda Howell of Lorenda Howell Events, here creating an experience to tell your story the right way, through stress-free event planning.
Today I want to discuss BUDGETS. This is such a taboo topic for so many, but I lean into it because how your money is spent is important and should be talked about. I was once told that a budget is just a list of priorities with a number attached to it. I wholeheartedly believe this and stand by this statement. I always emphasize this to my clients and tell them to view it this way, because when you view your budget like that you realize how much control you have over it.
You will always control the calculator when adding up expenses if you view it this way. You can even apply this theology to your personal life. Take your home life, for instance, and think of how you budget your bills. If you sit down and write out what is most important to least important that needs paid, then write the amounts next to them, you are literally practicing this theory.
When it comes to budgets for weddings and events I have two types of clients. The first comes to me with a specific dollar amount and wants me to plan and design to the level of funds they have available. The second client, comes to me with their dreams and visions and they want them brought to life regardless of the amount of money involved. Regardless of which client you are, I still work your budget for you. Even if you are the first client that has a specific dollar amount that you do not want to go over, I still work your budget, because you don’t know how the funds should be allocated.
This is my expertise. I know the industry. I know the market. I know what the cost of a plated meal is VS a buffet. I know the difference in cost between serving Maryland style crab cake topped with a dollop of remoulade VS serving a stuffed mushroom with sausage topped with melted provolone cheese during cocktail hour. I know the difference in cost between butler passed VS stationary display appetizers. I know when doing your budget how to estimate these cost because we’ve already sat down and discussed whats important to you and your unique style and taste.
For me this is one of the first steps I take, before we do site visits at venues, meet with a design team or anything. I do this because I want to set the right expectations for you. If I know that music isn’t that important to you because you like to mix and mingle rather than be on the dance floor all nite long, then a DJ will go further down on the priority list aka “budget”.
When I create a budget there are 5 different breakdowns. the first 3 are more for me and my records and pertain to market cost, not client specifics. The next two are: best guess (estimate) and actual. These are truly for the client. I include the main categories like: venue, food & beverage, DJ, photos, etc. The one that is super important to me, that most planners do not include is “a random item you love”. I have this category because it gives the client a little flexibility and room to possibly splurge in another category.
For example if we put down $2500 for stationary (save the dates, invitations, menu cards, etc.) and we put down $1000 on a random you love, we can take that $1000 and move it over to your stationary if we want to go over the top there. Maybe instead of moving it over to an already existing category, we decide to take the experience up a notch for your guests and do a yummy late night snack. Because once the alcohol is flowing and the night is winding down, people need something to soak up the alcohol, why not some late night pizzas, mini tacos or warm pretzels.
Regardless of how you choose to spend the “random item you love” money, doesn’t really matter because we have already accounted for it so you will not feel like you are going over your budget. The most important takeaway here is to remember a budget is just a list of priorities with a number attached to it, so you will always know how your money is going to be spent when you hire me.
