Top 5 Budgeting Mistakes Brides Make
You’ve said yes, you’ve conjured up ideas for the wedding of your childhood dreams…let the planning begin! But not before you establish a budget, that is. The thought of spending upwards of $28,000 – the 2007 national average – on one day can seem like a nauseating number. But once the planning begins, it can all add up. An extra hour here and a few enhancements there, and you’ve got yourself in the middle of a budget nightmare. We’ve compiled a list of the top budget mistakes brides and grooms make - and how to avoid them.
Not having a plan
Winging it may (or may not) work in every other aspect of your life, but this is not one of those times when it is worth a shot. Begin your planning process by establishing a reliable method to keep track of all your expenditures. Even a simple spreadsheet will help to allocate your expenses.
Ignoring the numbers
One of the biggest mistakes an overzealous bride can make is to start planning anything before determining her guest count. That exquisite mansion may make the perfect setting – but not if it can’t hold all of your guests. A nonrefundable venue deposit is surely not a budget-friendly way to commence your wedding plans. Take a step back and first determine an approximate number of invitees for your big day.
Costs from catering and rental fees to invitations and favors multiply by the number of people you invite. Bottom line, not trimming the guest list down to size is a surefire method to overspending on your wedding.
Failing to expect the unexpected
Nearly half of all couples report spending more on their wedding than originally planned, so you can’t necessarily assume that setting a budget and putting a plan in place will ensure you arrive at that magic number. Set aside five percent of your budget for a just-in-case fund. If you absolutely cannot exceed $20,000, aim to spend $19,000. When last minute costs come up (and they will), your reserve funds will save you from debt.
Falling victim to the upsell
Around every booking corner is an opportunity for an upgrade. Don’t succumb under pressure! Come prepped to each venue and vendor consultation with some solid priorities, and stick to them.
For more articles and advice to help you plan your wedding, visit www.Elegala.com's complete Wedding Planning Guide
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