Sure, you know that wedding budgeting takes no prisoners. But no one is ever TRULY prepared for what this means without having hiked through the hells of wedding planning already, and no one – not even a wedding planner – has your best interests at heart as much as you do.
So, it’s time to get educated. Here is your introduction to budget boot camp:
1. Pick A Wedding Budgeting System That You Understand
Many systems exist that help you track all the money coming in and out for your wedding – but picking the right one is essential. One example is The Knot Budget Calculator, which calculates how much you should be spending on all aspects of the affair, and tracks all your payments along with their due dates.
2. Anticipate Extra And Hidden Wedding Costs
These’ll get ya. But with so many others who have already experienced this, you can budget them in ahead of time. Here are some of the most common fees that sneak up on you:
Overtime Fees
Of course, you’ll rent your space with ample time for everything to wrap up, but after all that delicious wining and dining, no one’s going to want to leave the party – including you. Nor will they have the clarity of mind to make that responsible decision. And the venue is ready and waiting to capitalize on it. In fact, they eagerly await it, so ask them ahead of time how much it’s gonna set you back – and budget for it.
Tips
That’s right – every professional whose counsel you seek out along the way is expecting a tip in some form. Even conservative tips can add hundreds to the wedding bill at the end. And don’t forget the bellboy.
Trials
Changes equal charges. Pre-wedding trials aren’t usually free, so don’t plan to change your mind too many times. And just because they don’t hand you the check upfront doesn’t mean they won’t bill it to you later.
Miscellaneous Extras
Invitation materials, marriage license fees, party favors and “the little things” you “just have to include” may seem small at first, but they add up. If something is over the budget, do not tell yourself you’ll make the cut somewhere else unless you do it right then and there – you won’t, and you and your bank will regret it.
Our estimate? Extra fees will cost the equivalent of 5% of your total budget.
3. Pencil In Periodic Budget Reviews
Yes, this is something you need to plan in advance if you ever want to find the time.
