Planning Your Perfect Day

“I Do,” Not Debt: Creating a Wedding Budget. An average wedding with a guest list of 150 people costs about $20,000. That’s no spare change – especially for couples just getting started. Get the wedding you want with a little financial planning. Avoid the pitfalls of overspending by putting your wedding budget down on paper.

• Slave to Save. Forgo the popcorn at the theatre. Spend Friday night cuddling with your significant other, rather than paying the cover charge at your favorite club. Make a commitment to put 15 percent of every paycheck in the bank.

• Closed-Door Couple Negotiations. Sit down with paycheck stubs, bank statements, and other financial records. Discuss how much each of you can afford to spend on the wedding.

• A Family Affair. Traditionally, parents have paid a fair portion of the wedding expenses. While most couples are now offering to pay for more of the wedding costs, parents are still willing to contribute. Find out how much they can afford to invest in your big day. See “Sharing the Costs” in the Weddings With Style wedding planner at the back of the magazine for more information on how to split wedding costs.

• Prioritize Spending. Add up all funds available for your wedding, including monies from your partner, from parents, and from loans. With your partner, rank the importance of each wedding expense. Consult the Personal Budget Worksheet in the Weddings With Style wedding planner for more information on how to create a feasible wedding budget.

• Consult a Wedding Professional. Share your (reasonable) wedding wishes, and provide your wedding planner with your budget. While a consultant might charge as much as 10 percent of your wedding budget, he or she could keep you from going over budget and into debt.

While weddings are expensive, the photo album, the dried floral bouquet, and the memories are priceless. Plan now. Invest in something you can be proud of.