According to numerous surveys the number one thing that married couples have disagreements and arguments about is the “MONEY”. The tension surrounding Money begins long before the marriage ceremony takes place, for instance the cost of a Wedding.
Wedding Costs can rapidly escalate out of control if not planned right. It is extremely important to keep the tensions down and in some cases the wedding “on” to begin planning the wedding by devising a realistic and practical budget. And once the budget is devised and agreed upon its important that both parties stick to the wedding budget.
Planning a Wedding without a budget is a disaster that will land you in bigger and serious financial debt. The wedding budget is not a glamorous thing at all but rather a practical aspect of the whole affair that you will deal with and the key to make it successful is to communicate openly and honestly with each other, which will also set a precedent for your entire married life.
Most women work on the assumption that the groom does not care about the details which is not a true picture of the event. Men do care about how, when and where of the event as it is their big day as well and they have families, friends and relatives to please and impress as well. Newly engaged couples should take the time to tell each other how they envision their Special Day and respect the other person’s wishes and desires and come to a compromise which is another good rule to follow in your married life.
Once the excitement of the engagement is worn off, the bride and the groom to be should make a point of going somewhere and discussing what is important to them as far as the ceremony, the reception and the other frills that go with the Wedding Day and what is absolutely necessary for the Wedding Day and then use this feedback and information from each other to allocate your wedding budget and make your dollar go a long way in an efficient manner.
As soon as you know what is important and absolutely necessary, it is time to crunch the numbers and determine how much money is available now from all combined sources (for example in savings accounts, stocks/bonds, real estate, trust funds etc.). The second step is to determine how much you will have to start committing to savings account from your regular stream of income and how much you can realistically expect others to contribute towards your Wedding Costs. Depending on how far out the actual Wedding date is you may want to consider investing in short time interest bearing options to earn higher rates of interest on your accounts for the money that you already have in your accounts.
As taking into consideration what other people are going to contribute towards the wedding it is very important that you do not have any unrealistic demands and expectations. Accept gracefully what others have to contribute towards the Wedding and try not to be angry or disappointed in the amounts others are contributing. Be mature and understanding in handling the situation. When you know the source of money and how much is being contributed, you will know how much you can realistically spend.
After crunching the numbers and knowing exactly how much is available for spending make a list of all wedding-related expenses and allocate a dollar amount or the percentage you're willing to spend next to each item. This will help when you're actually contracting for these services. Remember that if you exceed your budgeted amount in one category, you'll have to scale back another so your budget will stay balanced.
Considering the importance of Wedding budget it is very important to use proper tools , worksheets and budget software and whatever help is available out there for the couples.
So get down to work and do your research properly and accurately without getting swayed by emotions as it will save you lot of aggravation and disappointment and will go a long way in a smooth and happy event. Good Luck and Happy Wedding Day. For your wedding favors and gift ideas click here.
No comments:
Post a Comment