Get Savvy About Money

How wonderful that you are embarking on a life together! Well, like it or not, money matters will figure in your wedding planning and ever after. Here are ways to handle money situations to save your dignity and peace, and hopefully extra moolah for your new home.

Avoid Money Fights
Lucky you if your folks have offered to foot the wedding bill! But in return, they may want to dictate the guest list and blow your intention of having a more intimate ceremony and party. What you can do is gracefully accept their offer and let them throw a grand shindig for all and sundry. Then, if you really want something special for your close friends, include a special invitation to a party following the banquet where you can let your hair down and have the fun that you want. With the generous APs that are likely to come from your parent’s business associates, chances are you might be able to afford a private wedding in Bali.

If no such offer has been made, be truly adult about it and plan your wedding according to your budget. Often, it’s not just the wedding to think about, but also your new home. If you haven’t already, it is time to sit down together, you and he, to set your priorities and embark on a savings plan. Start a joint account. Early money gifts from parents, siblings or a fave aunt can be pooled into it and go towards downpayments for your venue, apartment, etc.

Alternatively, you might want to put this fund into a six-month fixed deposit account to earn some interest. Tip: Senior citizens enjoy a higher interest rate so you might want to start a jointone with your Mum or Dad.

Setting A Budget
Few of us have the luxury of a sky’s-thelimit wedding. All the same, you can’t decide you’ll spend just $5,000 and expect to be happy with what you’ll get for the amount. The more realistic way to set a budget is to look around at wedding packages at a venue you’ve always liked (since this is usually the bulk of wedding expenses) and work out how much it will cost for the number of guests you’re likely to have (cost per table of 10 multiplied the number of tables you need). If the amount comes up to $20,000, you can estimate the cost of your wedding to be around $35,000 and start looking at how much you’ve got and how much more you need. While in reality, the banquet may well be paid for with the APs you’ll get, you should never assume. Besides, it’s never a good idea to spend money you don’t have.

Keep It Simple
If you have plenty of time and energy on your hands, it is worthwhile to check out various goods and services providers and get things just the way you like them. Since you’re likely to be busy, busy, busy with work, an easier alternative is to let someone handle it. Hiring a good wedding planner to work with the budget you have is one way, since they would already have good contacts with suppliers and can apply their creative ideas.

Don’t overlook packages offered by hotels. In fact, they are the most hasslefree way to go and some of them even provide a banquet organiser to see to your finer requirements.

Ask to view a standard banquet set up for a real wedding to see how you’ll like it. If you’re happy with the general deal, work with the coordinator to fine-tune the details. They are usually quite happy to barter items in the package. For example, if you don’t care much for an ice carving offered in the package, ask for better or more flowers in place of it.