Post # 1
A bee made an interesting point in another post, that perhaps a better comparision between budgets is to compare them as a percent of income.
I know different countries tax differently, so please VOTE based on take home pay (after taxes, but before any voluntary contributions such as retirement pay). To keep this as useful as possible, if your parents largely paid for it, please refrain from voting – maybe in the comments guesstimate the percent of their take home pay (pretend perhaps it’s one set of parents paying and average salaries if need be).
How to calculate, per a request below:
Wedding Budget / (Yearly income – taxes) = X%
For my vote, I followed general precedent here and did not include honeymoon or engagement ring (but did include wedding bands). To standardize, I might suggest others do so as well. (Although I should add that I just calculated and in my case, it would not have changed my category because I was just over the brink, and further, that we haven’t yet taken our honeymoon.)
And a friendly reminder, let’s please keep the dialogue respectful of both large and small weddings.
Post # 3
We are probably spending close to 15% of our take home pay. I am not even sure how much is ‘recommended’ to spend on one’s own wedding. Like how there are guides to how much of your income should be spent on housing, etc. Is there a price range for a wedding?? Lol. Just curious.
Post # 4
awesome, this will be very interesting, thanks for posting! 🙂
Post # 5
@Saloria83: I have no idea if there is a recommended number, but I imagine it would vary widely based on factors such as whether you have:
– A family to support
– Other savings (correlated to a degree with age)
– Stable jobs (v. unemployment, in college, etc.)
– “Bad” debt (e.g. non-student loans, mortgages)
Post # 6
Our wedding cost about 7% of our income.
Post # 7
@kay01: what’s the equation to get the percentage? Yearly income (post tax) divided by wedding budget? It’s early and I’m having a brain dart. And does budget include rings and honeymoon?
Post # 8
right now ours is about 33%, but i am currently unemployed. if i had worked this whole year, it would have been more like 18%.
Post # 9
@bklynbridetobe: Wedding Budget / (Yearly income – taxes)
For my vote, I did not include engagement ring (but did include wedding bands) or honeymoon. That said, we haven’t yet taken our delayed honeymoon, so I wouldn’t be able to include it even if I wanted.
Post # 10
Our wedding (also not including my e-ring or honeymoon, we got married while on that trip) came to 4.83% of our take home salary.
However, about $4k every month is taken off our salaries due to pre-tax retirement accounts, so my take home salary is slightly skewed.
“what’s the equation to get the percentage? Yearly income (post tax) divided by wedding budget? It’s early and I’m having a brain dart. “
(wedding $ / take home $) x 100 gets you the percent
Post # 11
Ours is about 25% of our income. Our family is contributing about a quarter of the budget and we are good savers.
Post # 12
We spent 28,000 including all rings and honeymoon, $14,300 without rings/honeymoon. We made about $115,000 after taxes at the time of the wedding. Our parents each gifted us $5000, but we’d didn’t change our $15,000 budget after we found out we had help.
Post # 13
Well this post intigued me enough to get out Mr. Calculator and we are spending less than 4%!
Post # 14
guys, i dunno how you count percentage, but in my mind it’s wedding budget multiplied by 100 and divided by income. it seems we’re spending 31% on our wedding – have to mention our income is incredibly low and the wedding is still a year and a half away.
Post # 15
Our budget is 5%, but were not paying for the dinner portion, my parents are. So 5% is not including the dinner. Our total budget is $4500 I guess
Post # 16
@linssi: You would divide your budget into your income, and you will probably get a decimal number. Multiply that by 100