budget and allocate funds for a wedding
It's interesting:"I can’t imagine a happier way to start married life than in this wonderful venue with all their family and friends around them. Ok, so I can – but it would have to be an exceptionally big Jacuzzi."
A wedding on the horizon can create financial stress, especially if a lack of planning makes funds tight. Make wedding preparations less tense with careful planning. Budget and allocate funds for a wedding to create the wedding you desire. A little frugal figuring may help you trim the expenses and find resourceful ways to make a romantic wedding on a shoestring.
Instructions
1
Meet with the bride- and groom-to-be and the parents or other people who will be involved in the occasion. Include everyone financially involved in the wedding and reception in this meeting. Discuss desires for the ceremony and reception.
2
Set a realistic budget for the affair. According to “-The Knot”- wedding website, the reception generally consumes about 50 percent of a wedding budget. Allocate about 10 percent each for attire, flowers, music and photography. Split the remaining 10 percent to cover the ceremony, stationery and miscellaneous expenses.
3
Choose a wedding date more than a year in advance, if possible, to enable you to allocate money ahead of time. By spreading the planning of the wedding over many months, you can also spread out the spending.
4
Save money as soon as possible to use for wedding expenses. Saving up to 20 percent of monthly income every month from the beginning of the engagement can enable you to allocate a sizable amount of money for the wedding. For example, if the engagement period will be 15 months long and you make $5,000 each month, you could save up to $1,000 each month if you save 20 percent of your income -- a total of $15,000 saved toward the wedding.
5
Open a savings account to hold the money you allocate for wedding spending. This will place all of the funds in one place where you can see the balance and it will also enable you to earn interest over the planning period.
Tips &- Warnings
Weddings vary in price according to your geographic location and the type of wedding you desire. A traditional wedding with all the trimmings may cost as much as $30,000 in some areas and considerably less in other areas. Research average local wedding costs to help you determine how much you might pay.
Trim wedding costs with do-it-yourself options. Instead of hiring a florist, purchase silk flowers and make your own. Instead of a sit-down dinner, serve a buffet. Instead of an open bar, choose a cash bar. Instead of a live band, use a D.J. Shop around among bakeries to find a less expensive cake. Cut back the guest list to reduce reception costs.
Tags: allocate funds, allocate funds wedding, funds wedding, about percent, budget allocate funds, each monthSource: www.ehow.com
