Wedding Budget in 12 Steps
Step1
Talk to your spouse-to-be about what kind of wedding you both want. Discuss what kinds of flowers, colors, venues, clothing, invitations, music and food you prefer.
Step 2
Make a list of what you’ll need: a wedding consultant if you’re using one, a ceremony location, a reception venue, food, beverages, cake, flowers, photography, entertainment, attire, invitations and so forth.
Step 3
Prioritize this list. What means the most to you? Is the cake more important than the music? Where can you pinch pennies without sacrificing your vision?
Step 4
Meet with both sets of parents to find out how much money, if any, they are willing to contribute. Be gracious, grateful and understanding, no matter what their responses.
Step 5
Calculate how much money you currently have available, how much you think you’ll need and how much you will have to save. Keep in mind that the average wedding in the United States costs about $15,000 to $20,000.
Step 6
Make a plan to save what you need, using a savings account or certificate of deposit. Consider selling stocks or mutual funds if necessary.
Step 7
Divide your budget according to your priorities. For example, if your top priority is the dress and your second priority is the venue, you might plan to spend 20 percent of your budget on the dress and 15 percent on the venue.
Step 8
Visit at least four vendors or suppliers in each category (florists, photographers, caterers, consultants, etc.) and compare prices.
Step 9
Use a checklist to make sure you ask all of the vendors the same questions. Note their answers in your budget notebook and review your notes before making a decision.
Step 10
Keep a record of the estimated and actual costs of each item in your notebook.
Step 11
Keep all contracts, agreements, receipts and vouchers in the notebook.
Step 12
Review your budget after each purchase to make sure you’re on track. Good Luck!
