by Denise and Alan Fields

The first step in setting the budget is to prioritize your needs - and consider your larger financial goals. Next, you will set the overall budget according to what you want to spend. Lastly, you'll learn how to budget money according to your priorities.

A financial check-up
As you plan your wedding, now is a great time to talk about the one subject that most folks like to avoid: money. Planning your finances while you plan your nuptials has one major benefit: it can keep you from getting divorced. Since arguments over many are the number one reason couples split, now is a great time to give yourselves a financial check-up.

Some basics: both partners should be involved with family finances (paying bills, etc.). Decide whether you will have joint accounts - and joint goals toward money management and other financial issues. Talk about debts, credit cards and retirement planning. While many of these isses are beyond the scope of this book (and this excerpt), it's important to consider all angles.

The best way to start is by sitting down with your fiancé (and your parents and/or his parents if they will be contributing) and write out the following list on a sheet of paper:

$_____ Apparel
$_____ Flowers
$_____ Cake
$_____ Reception/Catering
$_____ Photography
$_____ Videography
$_____ Invitations
$_____ Music
$_____ Miscellaneous

As you begin to plan for your dream day, keep in mind that the average price of a wedding is now close to $19,000 - and that's a very real fact!

Of course, it's certainly not impossible to throw a beautiful wedding for much less money, but the cost of any event is dependent on several factors: how far in advance you can plan, what time of day and the day of the week you want your wedding, where (in the U.S.) you get married, what time of the year you choose and what your priorities are.

How far in advance
When you have little or no time to plan in advance, you may have to accept what is available regardless of quality or price. Bridal gowns are a good example. Many wedding gowns in traditional bridal shops require from three to six months to special order. If you don't have that much time, you may have to settle for a sample gown that is not in the best condition. The more time you allow yourself, the more choices you will have and the more flexibility for your budget.

Time of day and day of the week
Typically throughout the U.S., the most popular day of the week to have a wedding is Saturday. If you choose a Saturday to get married, you will have to compete with many more brides than if you choose a Friday evening or a Sunday. Weekdays will be even more open. Some bridal businesses offer discounts for non-traditional days. For example, bands and DJ's will often accept work on Friday night or Sunday and give you a discount at the same time.

Time of day is also important. If your budget is very tight, consider having your wedding in the morning or the afternoon instead of the evening. Food is the largest expense for more wedding receptions and dinner is the most expensive meal to serve. A late morning brunch, an afternoon tea reception or even a cake and punch reception may save considerable money.

Time of year
If you plan on having a holiday reception (such as Christmas or New Years), you should also plan on higher expenses. For example, flowers are more costly during December because of high demand and limited availability. Caterers are also busy with corporate parties at this time of year, as are bands and DJ's. As a result, prices are higher than at other times of the year. Other holidays such as Memorial Day, Valentine's Day, Labor Day and Thanksgiving weekend may be similarly more expensive.

Number of people invited
Since food will most likely be your largest expense, it makes sense that cutting down on your guest list will save money. Enough said.

Your priorities
When you look at your priority list, remember that you want to sepnd a larger part of your budget on the highest priorities. For example if the reception catering is a high priority, this could be as much as two-thirds of your total budget. Even more if you are really serious about food!

And that leads us to the next section: allotting money. First though, you need to come up with a total figure that you want to spend on your wedding. We don't recommend going into debt to finace the kind of wedding you want. In fact, there is no reason you should have to. There is also no magic formula for determining an overall amount. Look at what you can afford and determine the total from there.

Allotting money
It's as simple as taking your list of wedding elements and writing the your total budget figure at the top. Next, number each element in order of it's importance and begin to allot your money to correspond with your priorities. For example, if your total budget is $10,000 and your dress, the reception and the photography are your top priorities, you might plan to spend $6,500 on these three items together (or 65%). If this figure doesn't seem right to you, allot your money in a different way. If you want a bright, garden-like wedding, then maybe your priority should be flowers. It's all up to you!

One final tip: open up a checking account for your wedding expenses. By separating out funds from your personal monies, you'll be able to get a better grip on the budget and expenditures.

On to step two, Saving Big on Reception Costs >>

Back to Bridal Bargains: The Secrets of Saving Big main page

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