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Creating A Realistic Budget

View the Budget Worksheet

Most brides and grooms are older than ever (first time brides and grooms are 24 and 26 respectively) and usually well-established in their careers, 75 percent of all weddings today are paid by the couple themselves... so don’t think you’re alone! So how do you get all the things you want for your wedding, and still stay within budget? We’ll discuss that in a couple minutes.

I realize that setting up your budget before you do anything else might sound like a pretty dull idea. After all, you've just become engaged and you're caught up in the romance of this lovely time of your life -- thoughts of engagement parties, bridal showers, wedding gowns, honeymoons and who you will ask to be in your wedding party. The last thing you feel like doing is sitting down with a notebook and a pen and figuring out how much money you'll have to spend, exactly where it will come from, and how it will be spent . . . right down to the last twenty-dollar bill!

Ah, but here's the kicker -- trust me on this one -- it is IMPERATIVE that you set up your budget BEFORE you start spending money. There are several reasons why.

First of all, whether your "wedding kitty" is $5,000 or $50,000, if you don't establish your budget BEFORE you start to spend, the wedding will plan YOU -- one decision will lead to another and before you know it the wedding will cost two or three times what you expected.

Next, those involved in the planning may tend to become anxious and at odds with each other because the planning is out of control.

And then, finally, unless the budget is established in advance and you've given some thought ahead of time to such things as theme, setting, number of guests, and so forth, decisions are often made impulsively which may result in a hodge-podge of disjointed parts or, even worse, another one of those plain vanilla "cookie-cutter" weddings that we've all grown to dread.

To give you an idea of what I mean, here is a typical scenario: the couple becomes engaged on a Saturday night and she wakes her parents at 2 a.m. to tell them the exciting news. Then, first thing Monday morning the bride's mother calls to book their country club for the reception and the following Saturday the bride and her mother go shopping for a wedding gown.

What's wrong with that, you ask? Well, first of all, by booking the club first, you may not realize until it's too late that you may be required to purchase THEIR wedding reception food off THEIR special wedding reception menu, including THEIR wedding cake and all THEIR wedding beverages. Also, you may be required to employ THEIR waiters, bartenders, cake cutters, security officer, parking valets, coat room attendant and clean-up crew. Because the wedding reception accounts for about fifty percent of the entire wedding budget, it is important to choose your site wisely, allowing you to provide your own food, drink, cake and workers or your own catering service, if that is your desire.

Also, by running out, charged with "wedding adrenalin," to choose your wedding gown before you've even decided on a theme or booked your ceremony site, you may make a similar mistake. For example, you may purchase a sleek, sexy, sophisticated gown that won't work at all with the Victorian wedding theme and setting you eventually decide upon.

See how it works? You need a plan! Before you write a single check, sit down and sketch out your overall plan, including how much money you will allot to each spending category.

A wedding today costs in the neighborhood of $26,327 (national average)
Here is a VERY loose, general cost breakdown of the average $26,000 wedding:

View the Budget Worksheet

The reason I say this is a VERY loose breakdown is because every wedding is different and there are no set rules. Many couples would prefer to spend less on the reception, for example, and use the savings for their honeymoon. Or the bride may fall in love with a $3,000 gown and squeeze that money out of the floral and music funds. It all depends on each couple's priorities.

Know exactly what you want… and prioritize!

 

  ~ This article is brought to you by Maddox Entertainment

 

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