How to Create Your Wedding Budget…and Stick to It
When it comes to planning weddings, people generally think of the “fun” stuff first…choosing colors and floral, trying on wedding gowns, touring venues, tasting wedding cakes, etc. What couples should think of first when planning their weddings, however, is their budget. All other wedding plans will stem from this first crucial step.
Planning a wedding can be a rather emotional experience. Couples tend to make decisions based on how they feel versus what realistically works for their budget, which can lead to overspending and potentially beginning married life in debt. To avoid this common pitfall, follow these tips to set your budget and stick to it:
- Every couple is different. Some want a specific venue, some think having the best photographer is the most important, and yet others want the best reception menu available. There is no right or wrong way to spend your wedding budget. What’s important is that you decide as a couple what is most important. Rank your wedding services in order of priority to you and your future spouse and assign your budget accordingly.
- Establish your guest count. Once you’ve set your budget, the next key step is creating your guest list. Do your best to narrow it down as much as possible. The lower your guest count, the more your budget will stretch!
- Track every dollar spent. Keep your budget handy throughout your planning, whether you use a budget tracking app or a paper spreadsheet in your wedding binder. Every time you make a purchase or contract a service, adjust your budget. If you overspend on one service, adjust the budget for another service to balance it. Better yet, find some bargains and stash the savings to use as you begin your new married life together.
- Communicate your budget to potential vendors. Share your budget for each service with the potential vendors you interview. Express that you need to stay within budget so you can be sure they’ll quote you accordingly. If a quote comes in over your budget, ask the vendor if their quote is negotiable, look for an alternative vendor, or figure out where in your budget you can pull money from to account for the overage.
- Stick to what you can afford. Nothing is more frustrating when planning a wedding than falling in love with something you can’t afford. Don’t tour venues beyond your budget, try on gowns that will break the bank, or agree to a photography package beyond your means. Research wedding items and services that fall within your budget to avoid any disappointment during your planning.
Sure, budgeting isn’t the most fun part of planning a wedding, but believe us when we say it will save you a lot of stress in the end. If you need assistance with this or other wedding planning services, we’re only an e-mail or phone call away!
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