The “wedding” as it is known today, is still one of the most emotionally charged times in a person’s life. The thoughts of forever, new family and a new life are swirling around the minds of everyone involved! Despite the feelings and emotions that so commonly surround weddings and the changing trends of the time, MONEY is still what makes weddings move! The wedding industry is still a business and dollars still speak very loudly! Today’s blog will give you a few tips that will help you to better understand how to choose your wedding dates, prioritize vendors and how much money is needed to get the ball rolling on planning your dream wedding!
Cash Reserves: $2,500-$5,000
Once the engagement begins, you may become very eager to jump right in with the planning. Even if you set a budget for the wedding itself, it is very important to have easy access (Cash, or Check) to a minimum of $2,500-$5,000 that can be deposited to secure the primary vendors (Venue, photographer and videographer). Most vendors either do deposits of a set amount or a percentage of the total bill. That is a very important question to ask when you are determining what vendor is right for you.
Your date dictates your moves
Spring is still by far the most popular season for weddings for a variety of reasons. Fall is quickly moving up in popularity as well. With that in mind, that means that you may be competing with other couples for your date. The more popular your date, the faster you’ll have to be prepared to move. The only differentiator will be the speed for which you can submit the deposit and complete the contract. First paid, first served! That is why it is essential to have access to cash before you even sit down for your first meeting!
30-90 day rule
The good thing about the wedding industry it is very trend driven so many of the vendors are going to have a similar process for payments and contracts. After the deposit is paid, most of the vendors do not require the remainder of the payment to be completed, until 30-90 days before your wedding date. That could be a big hit to your pockets all at once so staggering your payments and staying on top of your due dates may be the best.
Keep it cute, but budget friendly
Getting married is more than the actual day, but the pressure of social media, Pinterest and every DIY video is increasing the expectations and people are breaking the bank to compete! When you are in the process of planning, determine what is most important to you as a couple and what you are willing to spend the most money on like food, drinks or photography, décor….whatever! Remember, the average person can’t do it all and you have to live the day after!