Monday, May 19, 2014

When to Start Planning & Building A Budget

Good morning, Wed-heads!

So last week, we talked about how very important it is to pick a good date for your wedding. Whether it is a date that has special meaning to you and your fiance', or if it's a date that's just convenient; that date will matter most when planning your wedding.  Your wedding date is not only the beginning of your new life together, it is your GUIDELINE!!!!

It is your road map, your yellow brick road, your light at the end of the tunnel. All of the many details for your wedding day have to be planned and finalized before that day, in order to be executed properly on that day. So it is imperative to use that date as a guideline to when you start planning.
Most professionals will tell you to begin planning your wedding 6 - 8 months before your wedding date. And if you are thinking of doing a destination wedding, then begin planning 1 year before your wedding date. Either way, starting sooner rather than later will save you alot of stress during the process. And it will allow you to have down time as your date approaches. Imagine being able to sit back and relax two weeks before your big day, knowing that every T is crossed and every I is dotted!
Now, every little girl dreams of her wedding day, well most of us do. So you may already have some ideas of where you'd like your ceremony and reception, what kind of flowers you want; and some of you Wed-heads may have already had your dress picked out before you got the ring! LOL If thats the case, the first step in planning is to develop a Budget.

I know, I know..it sucks to have to talk money when it comes to your wedding day. Like the commercial says, it's "priceless"; you can not put a dollar amount on your hopefully once-in-a-lifetime day!  SMACK! Do you know what that is? Me slapping you back into reality! LOL C'mon ladies, this is not the movies or a fairy tale, somebody has to pay for this wedding, and it is up to you to determine how much it's going to cost them!
Here's how to build a budget:
1. According to several sources, the average amount spent on a wedding in the United States is $28,000. Start by talking to your fiance', your parents, or look at your own bank accounts. Sit down with all the parties involved that will be paying for the wedding, and determine what you can actually AFFORD to spend and what you are WILLING to spend on the wedding. You may want a $28,000 wedding, but perhaps you can only afford to spend $18,000. And that is perfectly fine! You can have a fabulous wedding on most budgets. The biggest thing to keep in mind is that you still need to live (eat, pay rent, pay bills) before the wedding, and you need to be comfortable after the wedding. So decide on a dollar amount that will allow you to still eat steak and potatoes, not pb& j sandwiches after you're married!

2. Next, make a spreadsheet of what I like to call MUST HAVES. Must Haves are the wedding elements you've been dreaming about since you were 5. Pull out all of those magazine pictures you've been hoarding and make a list of what you absolutely can not do without on your wedding day.  It could be a desired location, a particular dress, a special flower, or something sentimental like flying in that long lost loved one to share the day with you. Ask your fiance to write his/her own list, and you combine the two.

3. And last, allocate a percentage of your total budget amount toward each of those Must Haves. For example, if the most important Must Have is the reception location for you, then say you'll spend 50% of your budget on that. If the flowers are next in line of importance, then allocate 10% to that. And if there is something on your list that is not that important, say for example, renting a limo, then designate a small amount of 2% on that. Its really up to you how you determine what you want to spend. What's most important is having a rule book to follow.

So in closing, as the expression goes, "The early bird gets the worm." The sooner you start planning, the sooner you will get what you want, at the price you can afford! Its that easy.

Next week, we will discuss researching venues and vendors on your Must Have list. Research is key to finding the perfect match between your wants and wallet! Until then, Wed-heads!


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