That Dreaded "B" Word...Budget

Your wedding budget dictates almost every aspect of your wedding. So much so, most wedding planner’s first question is “what is your budget.” We know that without this magical number nothing can be done. Although the ‘B’ word is often misconstrued as a naughty word, it can actually be your best friend and is pretty easy to figure out.

There are some brides who have families that are willing to take out second mortgages just to present their daughter with her fairy tale wedding. Other couples rely on their own bank accounts for their wedding. However much you have to spend, big or small, it is imperative that you have a number to work with. Each vendor you hire has a high end price, as well as a low end. With a budget you can establish an amount you want to spend on each service, and which ones you want to splurge on.

Having a budget, even a rough estimate of one, can make it easier for you to negotiate prices. If you know what you want to spend on, for example, your wedding cake, and you know what the average cost is for what you want, then you can make sure the vendor understands as well what you are not willing to pay. It also allows your planner to know which vendors to suggest to you. Why fall in love with a vendor, who ends up being beyond your acceptable limit, and then you are left with a feeling of settling.

It’s pretty easy to come up with a budget. One way is to write down all of the big elements of your wedding (i.e. catering, dress, flowers, venue, etc.) and guesstimate a number that you would be willing to spend on each item. Add all of those numbers together plus about 10% more for all of those little things that you probably forgot and there’s your budget! You’re planner is a great source also, and should be able to provide you with a great template, as well as inform you of certain etiquette associated with it.

If you are paying mostly for the wedding yourself a great way to calculate your budget is by using this formula:

# of Months Before Wedding

x

Amount of $ you can set aside each month

+

Family Contributions

-

5% Set Aside for Unexpected Costs

=

Wedding Budget

Truly there are tons of ways to figure out your wedding budget and one of the best ways is to have a professional planner help you with it! Whether you do it by yourself or have someone help you, remember this is a very important step that you must not forget!