Hey, beautiful readers! Thanks for coming back for week three. I'm thrilled because this marks the debut of a special mini-series—Budget Busters. Throughout the year, there will be a few recurring series that you can look forward to.
Planning your dream wedding can sometimes feel like a maze, especially when it comes to managing your budget. In this mini-series, we're delving deep into the realm of wedding finances, addressing common challenges, and sharing savvy tips to align your wedding dreams with your financial reality.
To even begin thinking about planning your wedding, the first thing you must do is put a budget together. Here are a few tips to follow when setting your budget:
Family Contributions: Consider yourself, your partner, and any family members willing to contribute. Bring everyone together for an honest discussion about what each can contribute.
Needs vs. Wants: Prioritize your needs versus wants. Set aside time with your partner to determine the most crucial aspects of your wedding day. Remember, in 2024, we're prioritizing only what the couple wants.
Payment Plans: One of the most significant ways to eliminate the financial burden of any large payment is to spread it over time. Most vendors, especially those we collaborate with at TCB, offer payment plans to meet your financial situation. The longer you have, the less burden you face when wedding day approaches and final payments are due.
Credit Cards: If possible, consider opening a credit card for wedding expenses. This allows you to pay over time and gain rewards points for your expenses, which can be used for your honeymoon or other projects. Please be mindful, I am not a financial expert, do your research on a credit card that works for you, and remember that you can put yourself into debt fast, but can’t nearly as quickly get yourself out.
Track Diligently: Utilize a detailed budget tracker to stay on time and up to date with all vendors while maintaining control of your spending. My planning packages include a detailed tracker to keep yourself timely with vendor payments and know exactly how much room you have left in your budget.
I've saved DIY for last because it's where everyone turns when they think of "saving money." For now, I'll say, save the "DIY-ing" for anything that does not significantly impact your wedding day experience. Whether it's stocking your own bar, building your bouquets, or printing your signage from Canva, I have tons of ways to optimize savings on things that are less impactful to you.
On the next Budget Busters, expect some trending DIYs, my popular and unpopular DIY opinions, and tips on balancing DIY vs. Buy fatigue.
Here's to calm brides, stress-free planning, and creating unforgettable moments on a budget!
xoxo
Alyssa
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