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Budgeting

Budgeting

Budget Planner, Creating a Wedding Budget

Budgeting, Money, Wealth | February 1st, 2010 2 Comments

Having a budget planner for a wedding is an essential. In fact getting your budget house in order is the first thing that you should be doing immediately after you announce the engagement. After you do this you need to make a commitment that you’re going to stick to it.

So now you’ve just mentally made that commitment to yourself but you’re still not exactly sure how to do it, here are the steps to make it happen:

  1. Talk about the type of wedding that you want to have. All of the considerations are going to play into the budget. These will be things like the flowers, invitations, music, food, venue and more.
  2. List out what all you’re going to need. This is going to be things like the wedding consultant, venue, attire, invitations, all of those things that you discussed and decided on in the first step and anything else you figure out that you’re going to need.
  3. Take a look and prioritize. Are you going to need to cut some things out to make the money situation ok? What is the most meaningful to you? Is the big cake more important than having the band? Where are the places that you can cut some costs and save without sacrificing your vision of the wedding?
  4. Meet with the parents of both the bride and the groom and find out how much money they are going to be able or willing to contribute to the cause. Regardless of how they respond make sure that you’re grateful, gracious and understanding.
  5. Figure out how much money you have, how much you think you’re going to need, and how much there is to save.
  6. Make the plan to save what you’re going to need to save. Do you have any investment that you’re going to want/need to cash in, some overtime or a part time job?
  7. Make your budget according to the priorities that you have. If your dress is the top of your priority list than you want to set aside more of your budgeted amount to that then to something else like your venue.
  8. Visit multiple vendors for each of the things in your category to shop around for the best possible price. Make a checklist before you go so you can make sure you’re asking all the same questions to each vendor that you visit so you know the quotes you get are uniform.
  9. Make a notebook that you’re going to keep all of your estimates, contracts, agreements, receipts, vouchers, etc…
  10. Finally review the budget and see whether or not you’re on track. If you’re over on the budget determine the places that you can cut. If you’re right on track you’re good to go, if not just decide where you can cut or decrease like a smaller arrangement on the tables and other small things if you don’t have much room to make up.

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