Saturday, August 15, 2009

How Do I Spend My Wedding Budget? Budget Wedding How To's

By Melinda McAlindon

You're engaged! Congratulations. You might have thought getting that guy to pop the question was hard work, but "you ain't seen nothing, yet!".

Planning a wedding can be quite a challenge. It's even more difficult if you are on a small or tight budget - as most of us are! However, if you put some thought into how you're going to divide your budget, making decisions about which caterer or which flowers will be a lot easier and you won't overspend.

Here are some easy steps to planning your budget:

1) Agree on the amount you will spend and agree you will NOT go over that amount. This is really important. Along the way, you will feel pressured to spend just a little bit more in every category to get the better product or a slightly better deal. Don't do it!!! Spend what you agreed upon.

2) If you must overspend in one area, don't do it until you have taken money from another portion of your budget. Again, you don't want to spend more than you have to on your wedding.

3) Do some research. Find free wedding guides in bridal magazines; use your local or regional bridal magazine if you have one. In these, they will give prices ranges for different services. This will help you in your planning. Also ask friends what they spent for things that you liked at their weddings. You'll begin to see what your money can buy.

4) Pick one or two items that are the most important to you. For example, for my wedding, the most important thing was photography/videography. We spent a large amount on getting one of the best "storyographers", because we felt in 5 years, we weren't going to care what flowers we had or what we ate, but we wanted great pictures that captured the day. A friend of mine spent nearly $2000 on her wedding dress! She chose to have a very small wedding to be able to afford that. Make a choice about what matters most to you. What most defines a "perfect" wedding?

5) Now pick the next 3 things that are need to be great. Is it music, food, flowers, Reception hall, cake etc.

6) Start filling in the blanks. OK, now you know what matters to you for your wedding. Get out that budget guide and let's fill in the blanks. Start with the 1 or 2 most important items from step 4. Use your research, write in the highest dollar amount you found for these 2 items. This is a good place to start. For the 3 items from step 5, use an average of the dollar amounts you found. For remaining use the lowest dollar amounts you found.

7) Add it up and compare to what you have available. Do you have enough money to cover all these items? If not, start lowering the dollar amounts for items from step 5 first. If you still can't get there, lower the dollar amount for items from step 4, until you get your budget to balance.

8) Go find it! Now the fun begins. From your research, you should have 2-4 people that you can call for estimates on each of you budget items. Use a spreadsheet to keep track of each business estimate and their quality. Rate each business/person on Love them, Like them, They would do, or No way.

9) Final step - Select your suppliers. Now, you know who you like, who's available and how much they cost. Starting with those items from step 4, select your suppliers. Use the Love them/Like them businesses for items from steps 4 and 5 as best you can. For the other items, if you can't afford the "love them", work your way down to the "they would do". Remember those items just weren't as important to you (see steps 4 and 5)

You did it! Sit back, enjoy the planning, knowing that you are staying well within your budget! And any leftover money can be used for those honeymoon souvenirs. Find free wedding guides in bridal magazines; use your local or regional bridal magazine if you have one. In these, they will give prices ranges for different services. This will help you in your planning. Also ask friends what they spent for things that you liked at their weddings. You'll begin to see what your money can buy.

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