SOPHIE MAGAZINE & EXQUISITE EVENTS and CONSULTING

Money Matters for Today’s Bride

Article by Lisa G. McMillan, Exquisite Events and Consulting, and Emily McCollin, Occasions by Emily

Congratulations on your engagement! While planning your wedding, you will enjoy dress fittings, portrait sessions, bridal showers, and so many more delightful, once-in-a-lifetime events. So, why are we bringing up the dreaded “B” word? Believe it or not, the sooner you create a budget, the better your planning experience will be.

A budget is key for lowering stress levels for everyone involved with writing checks for the wedding. No matter how big your budget, there is always a limit. The tips below equip you to keep your finances under control so you can spend more time enjoying the delightful experiences of planning, rather than the worries and headaches of trying to make ends meet.

• Determine how much you plan to spend.
  
• Allocate 50 percent of your budget to include facility fees, catering, alcohol, service attendants, rentals, cake, and décor (other than flowers).
• Do not forget to account for gratuities to vendors who provide exceptional service.
• Establish who will pay for what early in the planning process.
• Keep track of your expenses in a binder. Include receipts, contracts, estimates, and quotes for easy reference.
• Create a budget worksheet which includes the estimated cost, actual cost, and the amount of deposit along with payment due dates.
• Be willing to consider creative alternatives to items out of your price range.
• Do not “haggle” with vendors. Respected vendors set their prices for what their services are worth. If you simply cannot afford a standard package, but you want to utilize their services, ask if they might be able to customize a package to fit your needs.
• At the very beginning, prioritize elements of the event that are most meaningful to you. Allocate your funds according to where things fall on the priority list.
• Choose quality products and services. You will never be disappointed.

As planners, we cannot emphasize enough how important it is to begin with a realistic point of view for your expected expenses. As an example, we often see clients panic when they receive their catering bill because they do not understand the expenses involved with preparing food and providing staff to serve a large number of people in a non-restaurant location. An initial conversation with your wedding planner can help you estimate costs for each category so you can better avoid sticker shock. As with anything major, the more information you have, the more prepared you will be to make good decisions. Happy Planning!

Wedding and Event Planners Emily McCollin of Occasions by Emily and Lisa G. McMillan of Exquisite Events & Consulting have collaborated on many events and love to share their expertise with brides to help them create the weddings they envision.