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Budget Basics

Champagne dreams on a generic soda budget? Here's how to manage funds and have your dream wedding without breaking the bank.

Before you begin planning your wedding, you must decide on two things: your budget and the size of your guest list. All other details will be determined by these two factors. That's because the amount of money you have to spend will affect the formality of the wedding, the location at which you have it and the number of people you can afford to invite. (The cost of food and drink at a reception is generally calculated on a per-person basis, and this amount may be the biggest expense of your wedding.)

But don't make the mistake of thinking that you can't host a big wedding unless you have an extravagant budget. There are many things you can do to keep the costs down and still invite the number of people you want. For instance, it's generally less expensive to hold a wedding reception on a Saturday or Sunday afternoon than in the evening. And Friday night can be cheaper still. Or, you might consider a morning wedding followed by a brunch. Also, most banquet halls and restaurants offer a variety of different menu options that will help you tailor your reception to your budget.

If you want to go all out, however, and have a formal black-tie wedding with an elaborate sit-down dinner and eight-piece band, it makes sense to keep the guest list down. The fewer people you have, the more you can 'upgrade' the celebration.

Before you make any final decisions, it's smart to talk with both your families about your plans. There's a good chance that each of your parents has some preconceived ideas about your wedding, and you don't want to start out stepping on toes. And there's another good reason to include your families in this initial planning stage: Hopefully, they' will be contributing to the cost of the wedding. While traditionally the bride's family picked up the majority of the expenses, today it's more likely that the couple and both sets of parents will be contributing money toward the wedding expenses.

Managing Funds - and Expectations

Money often comes with strings attached, and if you do accept financial assistance from your parents, you'll be somewhat obligated to at least consider their ideas. If your wedding costs will be shared by both families, there are some steps you can take to keep the arrangement as tactful as possible.

First, rather than having to go to one set of parents each time a bill comes due, you might have each family agree to handle a certain aspect (the band, flowers, photography). This way each party can be billed directly and money need not change hands between family members. However, this system could suggest an uncomfortable level of ownership, and you may find that, for example, your mother will pay for the florist only if she can pick the centerpieces.

A more effective (and stress-free) way to manage these funds is to collect the money that each party has promised up front and start a checking account in both of the couple's names that will be used only for wedding expenses. By pooling all the funds, no one will demand to take control of an element because they're paying for it. Plus, with only the couple paying all the bills, your accounts will stay organized and you can stay on top of your budget.

Keeping Costs Down

As you're no doubt discovering, there are hundreds of decisions to be made in planning your wedding - and every one of those decisions is an opportunity to save money. Which isn't to say you should scrimp on your big day, but you should think about what your priorities are. So you absolutely must invite 300 of your closest friends and relatives? Consider a reception of cocktails and hors d'oeuvres rather than a full dinner. You've always dreamed of huge bunches of fresh flowers at your reception? Allocate more funds to your flower budget and less to an area that's not as important to you, like transportation or music.

The following are a handful of ideas to get your budget creativity flowing:

  • To save on your gown, limit your browsing to the sale racks at your local bridal salon. Also look at bridesmaid dresses - most are available in white, and many are elegant enough to work as wedding gowns, at a much lower price.

  • Make your own veil or headpiece. The elements - tulle, combs or headband, fake pearls or crystals - are inexpensive enough to let you experiment a bit, so fire up that glue gun and get busy.

  • Create your own centerpieces. Table flowers can be pricey, so supplement smaller arrangements with interesting containers (such as vintage vases or bowls collected at thrift stores), candles or lanterns, or other less expensive decorations.

  • Instead of renting a limousine, enlist a friend with a vintage car to drive you. Or explore quirkier - and less expensive - alternatives, like renting a school bus.

  • Skip the favors. Most guests don't really expect them, and foregoing them will save you both money and energy.

  • Try having beer and wine instead of a full cocktail bar. Or if you have to have cocktails, opt for house brands instead of the premium brands.

Finally, it may surprise you, but in many cases the cost of hiring a wedding consultant will be more than made up by the resulting savings. Consultants may have a lot of professional connections that lead to discounted prices for other professional services, as well as creative ideas for achieving your dreams on budget. Securing bargains can take a lot of legwork and research, and if you don't have the time or your wedding is being held far from your home, hiring a consultant might turn out to be a wise investment.

Smart Budget Management

  • It can be tempting to finance your wedding dreams with credit cards, but returning to a huge stack of bills will bring new meaning to the phrase "the honeymoon is over." Try to avoid incurring debt as much as possible, even if this means a smaller wedding or a longer engagement period so you can save up more.

  • Keep your budget scrupulously organized so you always know what funds are on hand, and what expenses are approaching.

  • Keep a reserve on hand until the end for all of those last-minute expenses - gratuities, balances due for flowers and photographers, and so on.

  • Don't count on wedding-gift cash to pay for your wedding or honeymoon - your guests may not be as generous as you hoped!