Budgeting

Planning a wedding can be an enjoyable experience. One of the tasks that can take away from that enjoyment is worrying about money. So how can your get your budget organized from the beginning and relax knowing that you are going to be under budget?

Start the process early

One of the first things a bride can do is start a budget before you starting reserving venues and paying deposits. It is never too early to get started. And just because you start a budget does not mean that it has to be perfect the first time. In fact, I don't know anyone that came up with a perfect budget the first time.

Find a starting point

Do you know what type of wedding you would like? There is no need to plan the entire wedding at this point but it helps to have a general idea of how many guests you want to invite. Do you know how much money is going to be available to you? Financing generally comes from the bride's parents, but sometimes the bride and groom are the ones that pay for the wedding. Sit down and determine the amount that seems reasonable based on what money is available and the number of guests you want to invite. Money can be a source of anxiety for many people. But it is better to know that you only have $5,000 to spend before you go out and spend $20,000. Keep the lines of communication open about the budget and financing.

What is included in the budget?

The next thing you need to do is come up with a list of items to include in your budget. You can search the internet for a complete list of wedding budget items. Use the list you find as a starting point and modify it to suit your needs. Go through each of these items and mark a priority next to them. You want to be able to determine what is more important if the budget gets tight. If the videographer is the least important thing to you, then they may get cut.

Get Organized

Now that you are on your way, it is time to get organized. You can use a spread sheet program to organize your budget. Add in all the items that you decided would need to be included in your budget. Using a spread sheet program will give you the ability to categorize items and keep totals based on how you group items. This functionality will allow you to accurately keep track of your budget as well as make changes to see how different situations affect the overall budget.

Make some phone calls

Start to fill in your spread sheet with items which you know an approximate price. Just remember that this does not have to be exact at this stage of the planning process. But you do want to be in the ball park. You want to pick out a few places to call and get a quote. Start with the reception venue and catering since those could potentially be your biggest expenses. You may also call a few photographers, videographers, wedding planners, and florists. Make the phone call for any item for which you are uncertain of the cost. Do keep in mind that somethings vary greatly in price. One photographer may cost $2,000 while another is $6,000. Allocate more money to items you rated with a higher priority.

Once you complete the steps above, you should have a good starting place for a budget. Your budget is going to change as you start to shop and nail down prices. Give yourself a little cushion in your budget and prioritize items so you know how to adjust during the planning process.