Efficient organization is essential for the bride and groom to enjoy their wedding to the fullest. Respecting the wedding budget can be even more difficult than defining it.
When choosing the perfect wedding dress, you may overspend and be wrongly tempted to sacrifice the ideal wedding centerpieces, the most appropriate lighting and even wedding cake toppers.
These tips will prepare you to stick to your budget and have the wedding of which you have dreamed.
1. The Wedding Budget, Honeymoon, Home…
One exercise to start defining your budget is to consider your wedding and post-wedding goals.
Your budget may only be for wedding day expenses, but you may want to keep in mind how much to save for your honeymoon or to decorate your home.
If you have a firm resolution to stick to your budget, it will be easier to stick to it, as you will always keep in mind that unplanned expenses will affect your goal. Deciding your priorities will help you resist temptations and benefit your more concrete goals.
Make different lists together: on one, write down what you will need; on another, what you want; and on a third, the things of which you have dreamed.
Although they may overlap or be similar, differentiating each category will help you set your priorities. For example, you may want to hire a magician to entertain the guests during the private photo session, but if your session will be brief, it may not be a necessary expense and that amount can be invested in the much dreamed of lace wedding dress.
Once you have your lists and decided on your priorities, add other categories: what you can afford right away, how much you need to save to get other things, and what are the best alternatives to stay within your budget.
Filling in the numbers for each wedding element will be easier as you begin your research, but you should designate at least approximate amounts that are as realistic as possible.
3. Search and Compare
When you start choosing your services and products, define concrete quotations tailored to your needs. Know all the options of wedding suppliers and compare the prices of all of them, without losing sight of the quality of what you are about to acquire.
Clearly record the prices of each option consulted and what they include. If you consider it pertinent, negotiate prices and quantities with them until you reach a mutually beneficial agreement.
Keep a cool head: do not get carried away by haste or emotion, only contract or purchase your products and services when you are sure that you are respecting your budget.
4. Attention to Contracts
Your contracts should have clear information on prices, insurance, quantities, and general conditions. Note down (and preferably, state in your document) possible extra expenses, costs of unforeseen events and charges for changing some conditions if necessary. For example, establish if the arrangements will increase the price of the wedding dress, if the amount of the favors is wholesale, or if the wedding candy table may have a different variety than planned. Keep your receipts and invoices and keep them handy to ensure warranties.
5. Budgeting Is a Two-Way Affair
Keep track of your budget in a shared record. Write down all the necessary data, especially payments due and payments made, with their dates and what each includes.
If you both have access to this record and keep track of it, it will be easier for you to stick to your established spending. To help each other, create a wedding file with all the important documents.
6. Frequent Reviews
Do not wait until you’ve spent all your available budget or until you’ve finished hiring and procurement to review progress. Once a month, once a week, or after each expenditure, review together the money spent, and the money left over. Do not make expenditures without consulting each other, so that you are up to date with your records.
Balance the amounts spent, your priorities and what is left over. Adjust the figures for each item in order to stick to your total budget. Although all this may seem cumbersome, it will save you money and work at the end of the wedding, you will be well prepared for possible unforeseen events, and you will get off to a good start in controlling your family’s finances.
7. Fatten up the Piggy Bank
Label an amount of money for contingencies. There are many ways to have a little stash without directly affecting your finances. For example, you can save 10% or 15% of every amount spent, start a piggy bank together by saving a certain amount each week, or simply save as much as possible on everyday essentials.
At the end of your preparations, if you do not use up your contingency fund, you can spend it together or invest it in some church wedding favors you may have dismissed in the beginning, an extra hour of mariachi or the perfect beach party dress for a super romantic honeymoon.
Sticking to your wedding budget requires discipline and effort, but the goal is for both of you to enjoy your spending. All the small sacrifices will be worth it when you savor your wedding cake and you will never forget that, although you may have had to let go of your international food station, you enjoyed the wedding flowers you always dreamed of. Let’s start organizing your wedding with the best attitude and clear priorities!
Do you want to know more about TIPS for your wedding in Yucatan? We are YUCATANLOVE, Wedding Planners in Mérida, ask us.