Wednesday, January 15, 2014

FIRST 3 FINANCIAL STEPS (before you begin planning)





All our Brides ask us – where do we begin/ how much can a wedding cost in New York or New Jersey / how much should we anticipate on spending?  While these are great questions and I am happy to answer them, but the most important question a couple should ask themselves is: What is our budget? How much can we afford to spend on our big day?

Let’s face the facts – Weddings are expensive and the budget can go out-of-hands in a flash.  Without having a proper financial plan to begin with, you may find yourself in a financial burden even after the wedding – But don’t worry! We are here to help.  Please start your planning process off on the right foot with following 3 Steps and remember if it is too stressful, just hire a wedding planner!

1.  OPEN A SHARED BANK ACCOUNT
Bank account dedicated to wedding funds will allow you to track and manage your funds without having to go thru a detailed bank statement which shows gas / groceries / shopping sprees and everything else on it!  It is also advisable to open this account in a separate bank to avoid any temptations of digging in to wedding funds for a special dinner date or new tires!

2.  CREATE BUDGET
Review current financial situation and identify a set amount you can contribute regularly to your dream wedding.  This is a chore and will test your math skills – but better to have this done NOW than fishing for funds later on.  Once you have identified how much you can save-up, will now allow you to create a bottom line budget that you should keep in mind before you begin planning your wedding vision.

3.  WHO IS PAYING FOR WHAT? 
Don’t be shy to approach parents; you rather have this talk before you begin planning. If they are offering to contribute, but you are uncertain or unwilling to take their help, just graciously thank them and let them know that you might take their help in the near future!

Finally, if you are still confused on where to begin – Call us today! You have nothing to lose.  As a wedding planner we work with budgets of all types and we continuously work with our couples to help them save money, stay within budget and show them ways to stretch their dollar!
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