Post # 1
there are always a few threads asking about budgets (I believe I even made one when I joined a year ago!) but in the end.. budget depends not only on region, but on your income! $30k is a HUGE amount to spend if you make $45k/year.. but not much if you make $500k/year.
so.. I’m curious what the average budget to income ratio is.
Say where you’re from, and any other details that you think are relevant (especially whether or not you were helped financially)–I know WAY more goes in to how much you spend than how you make!! Still, just thought it’d be curious to see it broken down this way.
Let’s do this in percent because no one likes decimal points.. 😉 And for consistency, let’s include rings and honeymoon in our total wedding budget, and consider joint annual income the tax year you got (or are getting) married.. since of course income varies year to year.
Post # 2
18%. Yikes! But our parents helped us out so really we are coming out of pocket about 10% of our combined annual income.
ETA: we live in northeastern Maryland
Post # 3
Our wedding in total cost between $25k and $30k for about 115 guests. My parents put in about $11k, and his parents put in about $2500. Our income last year was about $180k. That’s about 15% I think. We live in a mid-sized city in the south. Our total includes everything from the stamps on the save the dates to the honeymoon to the post-wedding thank you notes.
Post # 4
Same as PP. The total wedding would be about 45% of our yearly income. But after money gifted from parents, it’s only cost us about 20% of our annual income. It doesn’t seem so bad when it’s framed that way!
Post # 5
We’re at 8%. That makes me feel better haha. Including honeymoon and rings, closer to 14%.
Post # 6
I forgot to put mine. Including honeymoon and rings we’re at roughly 12%, which I was pleasantly surprised to calculate. (If we were doing last year’s tax year, we’d be closer to 25% I bet, as I am only going to graduate this summer and start a real job right after the wedding!)
Post # 7
At the time, the wedding was maybe 2-3% of our joint income, including the rings and honeymoon trips, it was probably about 8%. Just because we had the funds didn’t mean we had to use them all on the wedding.
Post # 8
In the poll I used our total budget which is around 20% of our combined income. However his parents are covering the buyout minimum of our restaurant reception since their guest list made it necessary, so our actual out-of-pocket amount is around 12% of our income this year.
Post # 9
Ours was about 15% – SF Bay Area, no assistance from family.
Post # 10
We’re at 8%- our budget is $15k and we make $125k combined. Looking at it like that actually makes me feel so much better about spending so much money on one day lol
Post # 11
We are both starting new jobs and will make considerably more than we did this past year. We will be making about $60,000 combined and are spending about $5,000 on the wedding.
Post # 12
this is an interesting thread and so much more meaningful to measure as a %. We paid for it ourselves using cash savings which would not have otherwise have gone towards debt etc. everything but honeymoon included we paid 16% of our incomes at the time. We paid a lot more than I would have liked for a party, and an amount which would probably raise eyebrows, but two people need to get what they want
i didn’t include honeymoon as we do a trip every second year anyway so we would be paying that regardless
Post # 13
We are spending around 15% of our combined income. I think that’s a lot of money to spend on just a few hours, but fi has a big family…
Post # 14
8% with rings. 9% with honeymoon.
Post # 15
3-4% if it doesn’t include honeymoon.