As weddings are beginning to become more extravagant
and expensive it is becoming increasingly important for couples
to establish a budget for their wedding and also to stick
to this budget. There may sometimes be an occasion where an
item goes over budge but this should be the exception instead
of the rule. Furthermore when you do find yourself going over
budget on a particular aspect of your wedding, it is important
to re-evaluate your budget and determine if there is anywhere
that you can redistribute your funds so that your total budget
does not increase. This may sound excessive but if you do
not maintain control of your budget you may find that things
escalate to the point where you are going into significant
debt to pay for your wedding.
One of the most important aspects of establishing
a budget for your wedding is to have an open conversation
regarding the budget with all the parties who will be involved
with paying for the wedding. It is important that this conversation
take place before the planning gets underway so that everyone
involved has a chance to voice their opinion before purchases
are made and binding contracts are signed. This step is also
important because it makes everyone involved aware of the
budgetary restraints so that they understand the ramifications
of overspending on one aspect of the wedding.
After the budget has been discussed there should
be a consensus regarding the amount of money that will be
available for the wedding planning. Once this overall number
is established, it is wise to start assigning percentages
to each portion of the wedding. This may include, but is not
limited to, the food at the reception, the food at the cocktail
hour, centerpieces at the reception and flowers the ceremony,
transportation for the bridal party, the bride and grooms’
wedding attire, flowers for the bridal party, a photographer
and a DJ or band. An example of setting percentages is that
you may decide that you are going to spend 35% of your overall
budget on the food for the reception and a much smaller percentage
for the centerpieces at the reception.
When creating your budget it is important to
prioritize the different elements of the budget to determine
which items should receive the largest budgets. For example
if the bride is adamant about having a very elegant and opulent
dress for the wedding but is less concerned about the flowers
that she and her bridesmaids carry, it might be advisable
to allocate enough money for the dress she wants and plan
on saving money by purchasing silk flowers or less expensive
bouquets. Understanding the priorities of the couple will
help everyone involved with the wedding planning to see which
items they should plan on splurging on and which items they
might want to really comparison shop for in order to find
an inexpensive alternative.
Once a budget has been agreed upon, it is recommended
that you set the budget aside for a few days and that begin
shopping around but that you not start spending money just
yet. After a few days have passed, everyone can meet again
to review the budget. This gives everyone a few days to think
about what they have decided and even start pricing a few
items just to determine whether or not their budget is feasible.
During this time you may realize that you have underestimated
or overestimated one or more aspects of the wedding and that
the budget needs to be re-evaluated.
The importance of establishing a budget for a
wedding cannot be underestimated. If you fail to set a budget
or do not adhere to your budget you may find yourself in serious
financial trouble that results from your wedding.
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