Today on the Wedding Planning Basics Series we're talking about something that can bring up a lot of emotions in the beginning of your engagement. The B word. Budget.
The Essential Tips for Creating Your Wedding Budget
But First A little reality check if you're really starting to freak out
Weddings are an investment. This is the only lens to look at your wedding budget through. They are an investment for the couple and the families that are hosting them, and they are an investment for the guests who attend them. Shift your perspective to think about the family, friends and community that you are making this investment IN. How are you investing in those people who have loved and supported you throughout your lives up until now, and how are you investing in the community that you're building around your marriage.
Even the most experienced host or hostess has likely not thrown an event in their lives the size and scale of a wedding. Try to break the association in your mind that your wedding is same as other parties you have thrown, and should therefore cost a similar amount. The scope is bigger, the details are more complex, so the stakes are all around raised.
Tips for Creating Your Wedding Budget
Get clear on your values first. If you need to review how to do that, go back and watch the first video in this series. Go into any budget discussions knowing what is important to you and why.
Identify your Financial vs. your Emotional Stakeholders and prepare differently for your talks with each. Learn more about these groups in the video.
Spend on your values and save in areas that are less important to you. EXCEPT in the areas of basic needs (for example, shelter and safe transportation for your guests).
Have an overall reserve of 5-10% of your budget. This can be used for unexpected expenses or for "Value Bumps" (putting more money into the things that are really important to you).
The #1 way to control your wedding budget is through the size of your guest list. Next in our Wedding Planning Basics Series we're talking about just that. Managing your Guest List.
I'd love to hear from you if this series is having an impact on your planning process! Leave a comment or questions below, or reach out to me at firstname.lastname@example.org.
More Videos in this Series:
Managing Your Guest List | February 10th
Selecting Your Venue | February 17th
Beautiful Wedding Design | February 24th
Bonus Video! How to Stay Sane During Wedding Planning | March 3rd