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Helpful
Articles & Wedding Planning Tips
10
Top Tips For Setting Your Wedding Budget
By
Sharon Naylor,
Contributing Writer To NJWedding.com
The only way to keep your wedding
expenses from spinning out of control, and landing you deep in
debt after the Big Day, is to create a realistic budget for every
element of your plans. Sticking to a budget is never fun, in life
or with a wedding, but you can take the sting out of controlling
your expenditures by taking these smart first steps in setting
up a budget that will work for youinstead of against you. If you
begin with outdated guesses at what things will cost, you'll set
yourself up for frustration and a very unpleasant planning experience.
And brides and grooms who work with their parents to pay for the
wedding say that conveying the numbers to them makes it
all the harder. Parents don't realize just how much catering and
photography costs these days, so communicating what will be needed
is very important.
Add in the fact that you're
going to be emotional about many of your wishes for the wedding
day, the idea that 'this is once in a lifetime,' and you're in
great danger of overspending. So start your process with these
top tips:
- Make your priority list. Write
down what's most important to you, such as the catering or a
designer wedding gown, the flowers, a great photographer. Those
categories are going to be where you'll devote a greater part
of your available budget, since they are vital parts of your
dream wedding. When you find ways to save on other facets of
your plans, you can shift some of your extra money to these areas.
- Make a list of what you don't
want. No ice sculpture. No 12-piece band. No custom, engraved
invitations. These items are removed from your budget list, as
well as things that you can get for free, such as the use of
a friend's convertible or a relative's beach house as the wedding
site. Now your budget chart is starting to take shape.
- Research what things cost.
Never mind what you hear from friends about what they spent,
since everyone is finding a wide range of deals and packages
depending on the time of year and the reception hall where they
hold their wedding, if they had a wedding coordinator, or if
they made some bad choices. Other people's numbers aren't going
to help you right now. (Their suggestions for good vendors will
help you, though, so referrals are a smart move!) Invest the
time in scheduling free consultations with lots of wedding vendors
to talk about your needs and find out the true costs of their
wedding packages, including what's included and what's extra.
There are no shortcuts to this step, so take your time, locate
and consider several experts in each category, and get a feel
for what the going rates are.
- Use a chart or spreadsheet
to create your own personal budget plans. List all of the elements
you'll need, such as catering, bar, cake, photography, videography,
limousines, and so on. Don't forget to add in amounts for tipping
and taxes, the two most often forgotten elements of a wedding
budget. They can add up. Next to each item, create a code for
where they stand on your priority list. It might be 5-stars for
your top priorities, and 2-stars for things you want but will
get at lower prices, 1-star for things you can do without.
- Next, talk to your parents
to decide who is going to pay for what, which you can only discuss
realistically when you've done your homework and can tell them
that the photographer's package is $2,000 for the basic plan
and $4,000 for the plan you want. Parents need to know what they're
getting into so that their promises now will be delivered later.
Divide up the items on your budget list according to who's taking
on which portions of the plans, and then find ways to get the
best product or service for less. You'll share that information
with your generous parents or family friends who are helping
you with the wedding.
- Be flexible. Things are going
to cost more than you expect, and there are almost always additional
things that will get added to your plans as you go along. So
use that priority list to shift some funds away from your 1-
and 2-star items to devote to that new expenditure you just discovered.
When you shift like this, you avoid moving beyond your budget
and going overboard.
- Make it a game, not a burden.
Your budget may be holding you back, but once you create the
mindset of celebrating whenever you find a smart way to beat
your expected price by $200, the budget then becomes something
that you can control. Always look for the positives, and keep
your perspective that your wedding is about joining your lives
together forever, not purely about the money. That reduces stress
and reminds you of the larger value of these expenses. When you
can look at your budget chart and see how well you're doing,
that creates momentum for your next tasks at hand.
- If parents start sliding outside
of their allowed budget, encourage them to find ways to save
on their planning tasks. Go with them to craft stores to see
what you can make rather than buy new, share your favorite online
resources with them, and get them to 'play' at beating their
budget estimates. 1000 Best Wedding Bargains is a book
that can be shared with your entire planning team, with insider
advice on how to get more wedding for less money, even how to
get things for free or avoid paying for extras that could be
negotiated out of packages and contracts.
- If you have to boost your
budget total, finding that your original estimates were just
too low and unrealistic, don't consider it a failure. Few brides
and grooms are in the events industry, so the expenses come as
a surprise to most. Prepare your parents at the start of the
process that you expect this initial figure to be a conservative
estimate, and that you've been advised that a late cash infusion
is often necessary. So don't be surprised if a few thousand more
dollars will be needed later. You're doing your best to keep
expenses down, but it's not a secret that weddings are expensive.
When you pre-empt future money requests, it is a little bit easier.
- Don't count on future wedding
gifts. Too many brides and grooms get themselves in hot water
when they spend lavishly on their weddings, expecting to make
it up, -- and profit through weddings gifts of cash. Never
count on future gifts like this as a justification of raising
your wedding budget. It almost never pans out.
Creating a smart and flexible
wedding budget is a team effort, so work on it together and with
your families, with you at the helm of the master spreadsheet.
Organization is a big key to spending less, since you'll have
those contracts on hand to show a vendor that you did indeed pay
$1,000 for your deposit. When you feel in control of the plans
and expenses, you eliminate much of the fear that causes wedding
stress and arguments. Just work with what you have, be grateful
that you have what others can give, and enjoy the importance of
the day.
Sharon
Naylor
is the author of over 30
wedding planning books and is the Q&A specialist at NJWedding.com. Sharon will answer any wedding-related
questions at www.njwedding.com/expertadvice.
She is a resident of Morristown, New Jersey. To view and purchase
any of Sharon's helpful books, click here to visit the NJWedding.com WedStore!
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