Crafting Your Budget
Creating a budget can be a hard task during the wedding planning process, but without one, you run the risk of spending way more than you anticipated originally. So, we’ve set up a few tips for today on how to craft the perfect budget that meets your needs as a couple, but also keeps you conscious of how much you’re spending along the way.
1. Determine your needs.
What are the items or parts of the wedding that you can’t live without? What is it that has to be included? Make sure you and your spouse are on the same page about this one.
2. Determine your budget.
How much money, realistically, do you have to spend on a wedding without being broke as you enter your marriage? Where is the money coming from? Are your parents (or any other family members) contributing to the budget? Factor in all the money you have to use on your wedding and go from there.
It is okay to ask both sets of parents whether or not they will be contributing, but make sure to thank them either way. They are not obligated to give to your wedding fund. So, if they do, make sure they know how appreciative you are. If they aren’t giving anything, make sure to show appreciation for their support, as well! It’s not always all about finances.
3. Do your homework.
Research quotes and pricing on the items that you listed in step one as your must-haves. Talk to vendors, venues and service providers to find out what the best deal (with the best quality) is in your area.
4. Compare prices.
It’s okay to set a competitive market for your vendors when it comes to choosing who will help you pull off your big day. This comes with doing research. Don’t be so quick to sign a contract. Take your time and find what’s best for you and your spouse.
5. Pick your vendors.
Now that you’ve done your research, it’s time to make the final decisions about who made the cut! Sign the contracts that need to be signed and contact the vendors who need to be contacted. Select your A-team and get started on the rest of the planning process!
6. Track your spending.
Make sure you keep receipts, copies of contracts signed between you and vendors, and other expenses you’ve acquired. This will keep you accountable, and it will show you whether or not you’re actually sticking to your original budget.