12/12/2015
How to keep tabs on finances without spoiling the glow of getting engaged! These Winter months bring the promise of many wedding dreams. To keep the joy and excitement in planning, it's best to create as soon as possible a rough budget based on your priorities and taste.
Here is a quick method for dividing up the resources you have before finding sites and services or purchasing a gown.
1. Mark down your priorities from top to bottom. Figure you have at least10 slots to fill among ceremony and reception sites, gown, food&beverage, entertainment, flowers, invitations , photography, video, and coordinator.
2. Put 50% of your resources into the top 3 items
3. Put 40% of your resources into the next 7 items
4. Put 10% of your resources into the final items if needed such as parking, transportation, insurance, bridal party gifts, overnight accommodations, tips for services, unexpected extra guests, etc.
Here is a helpful hint on the proportion of spending. Most couples allocate money for food and beverage as part of the top three priorities due to natural cost of these items. IF you have other items that are more important than food and beverage to you, it's best to look at the minimum requirements of a site's food and beverage before putting money down on the space. The minimums once you add in service fees and taxes may exceed your proportional allotment of money if food and beverage is lower on your scale of priorities:).
Just this quick outline of expenses will stop you from spending too much initially on a site without knowing all the extra costs associated with table top items, rentals, lighting, etc. You might feel a little frustrated at first if your dollars aren't stretching as far as you would like them to, but it is far better to get an idea of where to put your money first, before finding you have spent a big chunk of your money on a couple of items and leave yourselves short on many others.
Happy Planning!