Having a budget in place, whether it is $50,000 or $150,000 is important. We decided this week to create a step by step wedding planning guide. Establishing a realistic budget will help determine how much you can spend on each line item such as the venue, attire, band and/or DJ, invites, cake, menu, decor, flowers, and the list goes on…
When you are setting your budget, first determine how much money you have for the event, and what you can realistically set aside until your event takes place.
Ask yourself – are you willing to go into debt for your event or wedding? If so, what is the limit and can you pay it off in a reasonable amount of time? Will this affect a down payment on a new home and/ or the honeymoon?
Finally, how much will your loved ones contribute to the wedding or special event? We recommend that you don’t guess when it comes to this line item, since you could get in trouble by estimating.
Be careful which budgets you use to estimate a budget. Some of the budgets found online or in magazines are great for different parts of the country, but not here in Los Angeles. XO
Avoid doing a cash bar. We recommend having wine, beer and champagne and maybe a signature drink. Guests spend money on your gift(s), a new outfit, travel, and if you charge for drinks, it could be a very unpopular decision.
If your budget is very specific, consider having less guests. This way you can have a really nice event, rather than a lot of people. Think of it as quality versus quantity.
Try and avoid having the dance floor in a room not connected to the dinner reception because this makes it hard for your guests to know if there is a special toast or special dance taking place. If you don’t have any choice in the matter, then make sure that your coordinator writes a great timeline, so announcements are made to avoid this from happening.