4 Steps to a Realistic Wedding Budget! If you follow the four steps below you will have a well thought out, researched and realistic budget. Step One - Know your Number! Before you even start planning whatsoever, make sure you know your exact budget. It's not fun to make big plans and then have to cancel them because you can't afford them. Going into your planning with a specific dollar amount in mind can save you a lot of heartache and alleviate stress. To create this magical number make sure to involve everyone that is contributing to your wedding budget. Step Two - Do your Research! If you followed the previous tip you now have the dollar amount you are willing to spend on your wedding. Now it's time to do a little online research. This research should be very minimal, you just need to get a good idea of what things in your area cost so you can create a realistic budget. Researching vendor pricing may be difficult if they do not post their prices online, so just reach out to one or two and get some general pricing. Again, this should be very simple research. Step Three - Know your Priorities! You and your fiancé need to sit down and have a conversation about what is important to the both of you individually and as a couple. Having this conversation at the beginning will help you create and maintain your budget. You will need to go through the list of possible vendors (venue, caterer, photographer, florist, etc.). For each vendor decide on a scale of 1 to 10 how important that item is to you. I always suggest to my clients to narrow that list a bit further and decide on your top three priorities. This will allow you to allocate the appropriate funds when creating your budget so you can get that awardwinning photographer if that is your number one priority. It is extremely important that you do this together. You may not want a live band for your reception, but it could be something high on your fiancé's priority list. Step Four - Know your Limits! Now that you have done some research and have set your priorities, allocate either a percentage or a specific dollar amount to each vendor type. Establishing these amounts is just as important as your overall number. Remember, there are vendors out there for every budget. You have to know how much you are going to spend on photography before you start meeting with photographers. You don't want to go into a bridal salon and try on a dress that is four hundred dollars over your budget. Not knowing these important numbers will set you up for being overwhelmed and stressed.
©Wishes! Wedding & Event Planning, 2011