Pop Quiz! Budget Check

Surprise!  Didn’t think I wasn’t going to remind you to check your budget did you?

In the beginning when you’re writing out deposit checks it can be pretty easy to forget about the budget.  Afterall, the amounts you’re sending out aren’t that big compared to the overall expense of the wedding.  However, tracking every bit going out is essential to staying in your budget and avoiding a shocking end-of-the-night bill.  If you’ve never tracked a budget before in your life, this is the one instance that I implore you to do it. Here is the Excel sheet I made for myself to track my expenses.  Any time you have money going out associated with the wedding, whether it’s a deposit or centerpiece supplies, make a note of it.  All of the little expenses add up incredibly quickly.

Look at the deposits you’ve sent in and make sure you have the right remaining balance noted.  Anything you’ve sent in a deposit for is relatively inflexible with regard to final price, so if you find those items are totalling more than you expected you’ll have to make some cuts in other areas you aren’t locked into yet.  Decorations and flowers are the easiest to reduce.  If you realize you’re going to be in a tough spot, look at what vendors you’ve reserved with a deposit that may have a negotiable price.  Maybe you can choose a different catering or photography package.  You’ll have better luck and more control over changing other aspects of the wedding, but if things have gotten out of hand you can consider contacting those vendors to talk about the situation.

Most of your major expenses will come one month before the wedding, which is typically when vendors require you pay the remaining balance of your service.  At this point it’s too late to do too much wiggling in your budget, so try to be prepared for this well in advance.  Keep in mind that you might have unexpected day-of expenses, and try to have a bit of a “contingency fund” built into your budget.

Remember that quotes prices most of the time do not include taxes or tips.  Be sure you’ve got a rough calculation of what that will add to your costs so that you’re not surprised by that at the end of the night.

So, I’m a little over the halfway point, and I’m a little higher than I intended to be, but I’m not doing too bad.  How are you doing?

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Posted on January 30, 2012, in Budget, Priorities, To-Do, Wedding Planning Isn't For Sissies and tagged , , . Bookmark the permalink. 4 Comments.

  1. We are pretty much on track! I should share my massive excel file with you sometime…you would appriciate it!

  2. I don’t know why anyone would think budget planning is for sissies… For young couples (like myself and my boyfriend) who are wedding on a budget, budgeting is the CORE of the wedding planning, because every decision MUST be made with the budget taken into consideration!

    • Amen to that. The absolute shock of “here’s all the things you have to do” when we first started was overwhelming. I can see why some people feel they need to hire someone else to help or do it all for them.

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