Your wedding budget- Let the planning begin! 09/14/2010
 Do you have a wedding BUDGET? Did you know weddings are in the top three most expensive purchases you will make in your life among homes and cars. Weddings can be fabulous with all the bells-and-whistles, but if I know my brides, more than having a lavish wedding they want their weddings to be FUN and MEMORABLE. Here are some tricks to having a great wedding without starting your marriage in debt. 1. Know what your budget is. This starting figure is calculated by looking at the money you have saved and adding it to the DEFINITE contributions from families (bride and groom side). Remember what your budget is. Any money that you may get from grandma or uncle can be factored in closer to the wedding date 2. For most people what you want and what you. can afford are two separate things. All is not lost! PRIORITIZING is an important word in wedding planning. Talk with your fiancé about what are the most important elements of your wedding and put your money there. For examples- for some couples having extravagant flowers and décor are important- put the bulk of your budget there. For another couple it is the photographer and for some it is the entertainment and food. Everyone is different. If you cannot decide on the most important element write a list and # from 1 -10, one being the most important. Example of a priority list (**the percentages(%) are the average amount of the budget that is spent in this category – these can change depending on how much you want to put towards each category as well): 1. Reception (food) 45% 2. Photography/Video 10% 3. Flowers 10% 4. Ceremony 7% 5. Entertainment 5% 6. Attire 5% 7. Cake 2% 8. Transportation 2% 9. Invitations 2% 10. Wedding Planner 10% 11. Mics. 2% 3. Now do your research with vendors- rates, reliability, service packages etc… The most expensive is not always the best, but the best deal might not always be the “best” deal. Priority Vendor Budget % How much of budget is used 1. Reception $7000 X.45 =$3150.00 2. Photography/Video $7000 X.10 =$700.00 3. Flowers $7000 X.10 = $700.00 4. Ceremony $7000 X.07 =$490.00 5. Entertainment $7000 X.05 =$350.00 6. Attire $7000 X.05 =$350.00 7. Cake $7000 X.02 =$140.00 8. Transportation $7000 X.02 =$140.00 9. Invitations $7000 X.02 =$140.00 10. Planner D.O.C $7000 X.10 =$700.00 11. Miscellaneous $7000 X.02 =$140.00 4. Remembering your budget and knowing your priorities will help keep both you and your fiancé on track when spending. It will help you double think any upgrades that are not necessary when working with vendors and packages. 5. Any additional money that comes in before the wedding can go towards an upgrade in flower or photography packages. You can even use the money for honeymoon upgrades. 6. Using a Credit Card to earn miles and rewards is a great idea, but the only rule for using a cc is that you have the money in an account ready to pay off whatever you charge. If this is not the case, I recommend that you refrain from using your cc. Credit Card spending can seem like a lifesaver, but the charging can sometimes get out of hand. Discuss with your fiancé how you want to make your vendor payments and who will be in charge of keeping track of deposits, balances, etc... 7. Remember – getting married and have a wedding to share with your loved ones is priceless, but the bills that come in the mail are not. Stick to your budget and you and fiancé will enjoy your day and honeymoon instead of being anxiety filled because there is a mountain of debt waiting to welcome you home. L 8. An experienced wedding planner can help you with creative ideas to achieve your vision and will have the knowledge and skills to edit your budget, even build your budget. They will help keep you and your family on track as far as spending and can be that voice of reason when looking at expensive wedding purchases.  2 Comments |
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