Wednesday, January 7, 2009

How Much Does That Cost?

Setting a budget is very important when planning a wedding. No matter the size of your budget, you should know how much you are willing to spend before you start spending. Many couples spend more than they would have liked and I believe it’s because they never really set a budget to begin with. Not only do you need to know how much you are willing to spend but you also need to know how to spend it. There are many elements that go into planning a wedding and they all come with a price tag. To help you allocate your funds, here is a chart that I use to help my clients allocate their budget.

Reception 50%
Photography 12%
Flowers/Decor 10%
Apparel 8%
Transportation 5%
Rings 4%
Music 3%
Stationary/Printing 2%
Gifts & Favors 2%
Ceremony 2%
Misc/Accessories 2%

Another helpful way to allocate yourbudget is to prioritize the things that are important to you. List all the categories in order of importance to you. The items at the top of your list are where you can splurge and the items at the bottom are where you can be more flexible with your selection.

Remember no matter the size of your budget; keep the number in mind when you are searching for venues and vendors. You should know how much to allocate to each category before you agree to anything. If you go over in one category, you should be willing to make up the difference in other areas to help keep you within your budget. If you saved in one category, you can take that extra money and splurge on something else!!

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