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Coming Up With a Wedding Budget, Part I

SavvySugar — Mon, 13 Apr 2009 09:30:18 -0700

Engagement is absolute bliss until you realize the long wedding planning road ahead. Sure, it's overwhelming: What will you wear? Who will be in your wedding party? Will you get married on the beach or in a ballroom? Curb the train of thought questions and focus on one thing at a time.

First thing's first: Come up with your wedding budget. It's certainly not as fun as wedding dress shopping, but really, what is? Your budget will determine how you can proceed with the details for your big day, so it must be set before doing anything else. To see my tips on figuring out a magic number, read more.

Nail down who is contributing to the marital cause. If there's more than one party paying, find out how much everyone can commit or use spending categories to divide the financial responsibilities. For example, his family pays for flowers, yours pays for the photographer, you and your fiance pay for the music, etc.
Footing the bill all by yourselves? Discuss how much you can afford to pay and how much you realistically want to spend on your wedding. You're in total control, so there's no reason to go into debt together. Create a separate savings account for your wedding fund and set up automatic withdrawals from your bank accounts each month. Be realistic: if you're unable to save enough by the time you want to get married, choose a wedding date further in the future.

For more wedding tips, check out all of the Sugar Network’s wedding coverage here.

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Coming Up With a Wedding Budget, Part III

SavvySugar — Fri, 17 Apr 2009 13:30:17 -0700

Wedding planning might seem like a part-time job, and there's one tool that you might despise using at work but will be your best friend on the road to your big day. Spreadsheets can be a tedious annoyance when used for work purposes, but they're the best way to keep all of your wedding details organized.

Use one for your preliminary guest list and create another one for your budgeting needs. Enter all of the spending categories you can think of and then get to work. To see some tips on what to consider while creating your budget, read more.

The venue, food, and drinks are typically the categories where couples spend the most. However, because everyone has different priorities and the cost of weddings varies geographically, there's no standard percentages to use as guides. Determine if there are certain compromises you're unwilling to make and go from there. For example, if you're set on having a live band rather than a DJ, you may have to cut costs in other areas to stay on budget.

Use online resources and talk to friends who have been there and done that to get a feel for how much certain things will cost. Once you have an idea about the cost of the biggest-ticket items, you can begin allocating your funds as accurately as possible. Continue updating your spreadsheet as you book vendors so there's always a clear picture of your budget.

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Coming Up With a Wedding Budget, Part II

SavvySugar — Thu, 16 Apr 2009 06:30:08 -0700

Approaching wedding planning by handling one thing at a time is the best way to stay organized. After you've landed on a best estimate for your total budget, it's time to focus on the guest list. It may seem premature to start thinking about who will be receiving an invitation, but a relatively accurate head count is necessary before you venture out to check out venues.

After cost, the number of people you expect at your wedding is the second biggest actor in narrowing down venue choices. More importantly, the expected number of guests can dictate how you allocate your entire wedding budget. The money will be spent very differently if you're feeding 200 of your closest friends and family versus 80 of them, and don't forget about the cost of the actual invitations.

Get your family and his family to make preliminary guest lists while reassuring them the lists are not set in stone, and you and your fiance should create a list of your own. Any venues you visit will immediately ask how many guests you're expecting, so go in armed with the knowledge and get on your merry wedding planning way.

For more wedding tips, check out all of the Sugar Network’s wedding coverage here.

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Budgeting For the Big Day, Part II

SavvySugar — Thu, 03 Apr 2008 09:29:02 -0700

After arriving at the magic wedding budget number, you need to consider how many people will be attending your wedding. That means getting three guest lists together - yours, his parents', and your parents'. The number of guests will determine which types of venues are feasible for the event, and if one side has a guest list that rivals a royal engagement then now is the time for editing. How many guests you'll invite weighs on some of the most important factors of your wedding, pressing most heavily on how your budget is allocated.

The same budget for a 350 person wedding may look wildly different from the way that budget is broken down for a 120 person wedding. For example, you can't determine how much of your budget will be used to feed your guests until you have an estimate for how many will be eating. Nothing needs to be set in stone at this very early stage of your wedding, but you'll avoid wasting time (like looking at venues that would fit half your guests) by getting a good idea of what to expect.

To see all of our wedding coverage, check out IDoSugar.com.

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Budgeting For the Big Day, Part I

SavvySugar — Thu, 03 Apr 2008 04:02:14 -0700

Once you've had ample time hanging out on the Engagement Cloud 9 with your new fiancé, you'll need to start focusing a bit on what type of wedding you want and, most importantly, can afford. Before you even discuss where you want to have the ceremony and reception, you need to figure out what kind of budget you're working with. Whether you have $50,000 to spend or $5,000, a budget is necessary so that you don't spend too much on one area and run out of funds. See the first steps to becoming a budget-building-bride-to-be when you read more

The biggest question to ask is who's contributing to the wedding costs and who's responsible for each category. If you and your fiancé will be paying for the entire event out of your own pockets then the two of you need to figure out two things - the maximum amount that you can afford, and how much you actually want to spend. Think you can't avoid going into debt from wedding expenses? Set up a separate wedding savings account in which you and your fiancé deposit a certain amount each month. And if you're set on having a bigger budget than is reasonable within your ideal engagement time-frame, be flexible! You can always push the wedding out another six months to give yourself more time to save.

If you're planning on asking your families for help in financing the wedding, talk to each family about who will pay for what and how much they'll contribute. At that point you'll have a total budget to work with, and you can start digging into the details of your big day.

To see all of our wedding coverage, check out IDoSugar.com.

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The How-To Lounge: Budgeting your Wedding

DearSugar — Thu, 29 Mar 2007 09:30:00 -0700

Now that your save the dates have been sent and your time line is in place, it is time to budget for the big day. Weddings can be extraordinarily expensive and like everything else, the cost of an average wedding keeps climbing. With that said, outlining a budget is imperative before breaking the bank.

For tips on how to budget your wedding read more

Gone are the traditional rules of the bride's family paying for the wedding and the groom's parents paying for the rehearsal dinner, many couples are now taking on the expense themselves
No matter who pays for what, your budget will determine the kind of wedding you have so knowing what you can and can't afford needs to be determined before you get too carried away
According to TheKnot.com, the average cost of a 150 person wedding in the $25,000 range should break down like this:

Reception 48%-50%
Ceremony: 2%-3%
Attire: 8%-10%
Flowers: 8%-10%
Entertainment/Music: 8%-10%
Photography/Videography: 10%-12%
Stationery: 2%-3%
Wedding Rings: 2%-3%
Parking/Transportation: 2%-3%
Gifts: 2%-3%
Miscellaneous: 8%

While we want every aspect of our wedding to be perfect, sometimes we have to pick and choose our battles to keep the cost down. Perhaps you nix a course at dinner so you can have 10 more guests, etc.
While the invitation is the first thing your guests will see, you can cut the cost by printing your own invitations and going without a calligrapher for addressing
Flowers add a beautiful touch to any event, although they are expensive. Instead of using a florist, opt for a trip to your local flower mart the morning of the wedding and creating your own arrangements
The time of year and day can dictate the cost of your wedding. Saturday is the most popular day of the week for a wedding, so to cut the cost, opt for a Friday or Sunday wedding
Having an open bar can skyrocket your food and beverage bill. Offering only wine and beer is a good way to satisfy your guests while respecting your pocketbook
Music can really get the party started, but live bands are pricey. Having a DJ is a less expensive option, or you could always use your iPod for the musical entertainment
Eating buffet style and skipping out on passed hors d'oeuvres will cut the cost on wait staff
While there are places to cut costs, the photographer is not one of those places. Although your memories are priceless, a picture really does say a 1,000 words

Since you are spending so much money on your special day, be prepared for the unexpected-- don't skip out on wedding insurance. Every bride is unique and prioritizes her needs differently, so with a structured budget in place, hopefully your wedding day can be everything you always hoped it would be!

Budgeting For the Big Day, Part III

SavvySugar — Thu, 03 Apr 2008 14:03:55 -0700

So you've come up with a figure for the overall price tag on your wedding, but how will you spend it all? First you need to figure out what your priorities are in terms of each category - if you know that you want a band instead of a DJ then you might need to save in other areas like your dress or the number of courses served at dinner. And if it's important that 300 people can attend your wedding and eat during the festivities, you might need to consider doing a buffet-style rather than sit-down dinner. To find out what else there is to know about buckling down on a budget just read more.

Because every bride has different wedding details that are important to her, and the varied cost of living from city to city, I can't tell you exactly what percent you should expect to pay for everything. Give yourself plenty of time to research the venues in your area and take advantage of all the extensive online resources. Once you've researched your options for the big-ticket items and book your venue, you can start getting more specific in allocating portions of your budget to certain categories.

The general rule is that about half of your budget should go towards venue, food, and beverages, but obviously that wouldn't hold true for all weddings. Create a spreadsheet for yourself with all of the specific categories, right down to the welcome baskets for out-of-town guests. Start by assigning percentages of your budget for each item, and as you check things off your list enter the amount that you actually paid. That way, there won't be any surprises at the end!

To see all of our wedding coverage, check out IDoSugar.com.

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Unemployed Ex-Bachelorette's Budget Wedding Planning Tips

SavvySugar — Wed, 15 Apr 2009 06:30:42 -0700

We got to know Jen Schefft back in 2003 when she became engaged to Andrew Firestone as winner of The Bachelor's third season. After they broke up and she appeared on The Bachelorette with another unsuccessful love story, Jen met her soon-to-be husband but was laid-off from her sales job a month after he proposed. Us Weekly got the scoop from the unemployed lady-in-love about how she's planning a low-cost wedding. Here are the highlights.

The details: Instead of renting chairs and linens and ordering a cake from an outside source, they're "going with everything that comes with the venue [an Italian restaurant]," saved money by booking a DJ instead of a band, and isn't worrying about matching ribbons on the programs and invitations. She said, "Even saving $200 is saving $200."

To see more of Jen's tips for keeping costs down, read more.

The head-count: They're keeping the guest list to close friends and family and will end up with about 100 guests.
Saving on attire: Jen said, "You can save a lot on shoes - no one really even sees them . . . The bracelet I'll buy, but it won't be, you know, real pearls." She's also mindful of how much she's spending on the dress and explained, "I'm not going to wear a $20,000, or even a $10,000 dress. I just don't think it's worth it for one day."
Hair and makeup: She's doing her own makeup, and as for hair, she's having the girl who normally cuts her hair style it for the wedding day.

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Get Organized For October With SavvySugar Downloads

SavvySugar — Fri, 02 Oct 2009 04:00:35 -0700

Staying organized and on top of your savings are key to both long-term financial and personal success. Doing so isn't easy without a little extra assistance, which is why we've put together a selection of pretty printable downloads that will help you get and stay on track. The beginning of a month is the ideal time to get organized.

It's never too late: Check out Savvy's 2009 Resolution worksheet!

Get your budget on track with Savvy's Spending Tracker doc!

Did he put a ring on it? Download Savvy's Wedding Planning Checklist!

Back to Basics: Get Organized With Savvy Downloads

SavvySugar — Sun, 26 Jul 2009 05:08:00 -0700

It's never too late: Check out Savvy's 2009 Resolution worksheet!

Get your budget on track with Savvy's Spending Tracker doc!

Did he put a ring on it? Download Savvy's Wedding Planning Checklist!