Week 2: Let’s talk money

 “10 Mistakes to Avoid When Planning Your Wedding!”

Week 2: Let’s talk money.

Engagements are the most exciting thing in the world. My heart flutters every time I hear an engagement story! It is such a fun and carefree time before the whirlwind known as wedding planning starts. Enjoy the blissful few weeks after he puts that ring on your finger before you jump head first into planning the biggest day of your life. When you are ready to start… the first thing you need to do is figure our your budget!

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The average wedding for 150 people in an urban area costs about $27,000.

Weddings can be expensive and spending a large amount of money on a single day tends to give couples {ahem, the groom} hives just thinking about it. On top of the price of a wedding it can be a hurdle for many couples to sit down and talk shop about money. Many couple keep their finances separated, many couples still live apart, and in general, money is a very hard thing to discuss.

A huge mistake that I see couples making is not figuring out a budget and who will be footing the bill. It sounds really blunt but it is SOOOO important for couples to know what they are comfortable spending and where the money will come from. This needs to be done before anything else and it needs to clear, concise, and laid out because it will reduce unnecessary expenses in the long run.

Some couples have money set aside for their wedding, some are saving as they plan, some have family that will assist and many couple use credit to pay for their wedding. It is really important that after getting engaged you sit down with your future spouse and you hash out how you will pay for everything and what is a realistic number, especially if you need to start saving or will be using lines of credit.

Doing this first will help you reduce stress, ensure that you are seeking vendors that fit within your budget, and it will keep you focused on the end goal- Having a wedding that will not financially disable you for the next 10 years.

The issue I see most is that a couple will start planning the wedding and will take the, “We will figure it out when we get there” approach. This is a dangerous area to wade in because it does not give you a starting point. When couples who are hanging out in this limbo start to sign contracts they often get sticker shock because they never planned on where they would start and what direction they would move towards. Additionally, I see many couples just sign the first thing they see and the items begin to add up and by the time they realize it they are pushing $25,000 and still have many things that need to be paid for. Good planning in terms of setting a price and making a conscious decision to work from that will get you more bang for your buck! My recommendation is to do this first and foremost. Sit down with your future spouse and throw out some high numbers and low numbers; then find a place in the middle that makes sense given your resources and what you envision for the future.

The second issue I see is that couples are not willing to share their budget number with their vendors. This makes it really hard for vendors to work with you. More often than not, it ends with you paying more. Here is why- vendors have wiggle room… you do not. A vendor usually has a base price but can go lower, add additional services, and work with you. A vendor does not want to turn down a wedding because of a $200 dollar difference but if they do not know your starting point, they can not “work” with you and they will throw out a number that suits THEM not YOU. This is not helpful for anyone. I know that money is such a touchy subject and very personal but vendors will overbid if they do not know where you stand. Unfortunately, couples always want to know the vendor price before disclosing how much they have set aside for that service… most of the time in hopes of getting a cheaper price but I can promise you, it doesn’t work. My recommendation is to be up front and clear with your vendors and ask for what you want because 9 times out of 10 they will not say no and they will be able to exceed your needs.

Grab a glass of wine, sit down with your honey, and come up with a game plan!

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About sayyesevents

I am a lover of all things pretty, a strong drink, a long talk, a stack of magazines, a hard crossword, an early morning walk, a big challenge, and a cozy snuggling with my daughter.
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