The Savvy Bride - Wedding Planning & Tips » Wedding Budget

Stretch Your Wedding Budget by Renting

Jennifer — Fri, 17 Jul 2009 01:21:07 +0000

(ARA) – Engaged couples long for a wedding day that will be unique and memorable, but in these tough economic times many are becoming more cautious about how they plan and spend their budget.

According to The Wedding Report, a research company that tracks wedding spending in the United States, the average cost of a wedding in 2008 was $21,814. That is a 24 percent decline over the 2007 average of $28,704. This decline doesn’t mean you can’t have exactly what you want on your big day to create your dream wedding.

“You can rent almost anything you need to make your wedding match your vision,” says Christine Wehrman, executive vice president and chief executive officer of the American Rental Association (ARA), the global trade association for the rental industry. “By renting items for your wedding, you have access to products that may have otherwise been too expensive in large quantities. You can get exactly what you want at a price that meets your budget.”

Choose linens that match your wedding colors, or go for classic white to offset the color of your centerpieces. Linens can be rented in a variety of colors and textiles, and add a touch of elegance to every space. Create drama without adding cost by creating a monochromatic design for your table.

Centerpieces can be elegant or casual, depending on your style. Mix tall and short clear vases to add depth to your table and save money on large floral arrangements. Or choose a variety of candleholders to create a vintage-inspired look and a romantic, low-light atmosphere.

Planning an outdoor wedding? Tents can transform any setting into striking surroundings for your big day. ARA member rental businesses have a variety of tents to create the venue, as well as everything you need to make it beautiful and comfortable.

Large tents and elegant canopies come in a variety of colors and styles. Many come with cathedral ceilings, windows or even clear tops — allowing guests to catch a glimpse of a dramatic sunset or a sparkling night sky.

Many ARA member rental stores offer personalized service through their Certified Event Rental Professionals (CERPs) who are specially trained to help you choose the right rentals to make your dream wedding come to fruition. Most offer on-site support the day of your wedding, and that’s a day you’ll be looking for all the support you can get!

You can also rely on the expertise of your ARA member rental store professionals before you book your venue. They can help you assess the potential site for things like power accessibility, ground water issues or overhead power lines that may interfere with your vision of a tall tent, among other situations.

The wonderful experience and memories of your wedding day will be yours to own forever. And everything else? Well, that you can rent! To find your local ARA member rental store, visit www.RentalHQ.com, the world’s largest rental store locator. You can search by geographic location and by the specific type of equipment you are looking to rent.

Courtesy of ARAcontent

Plan for the Wedding and for Life in any Economy

Jennifer — Fri, 29 May 2009 20:04:21 +0000

(ARA) – Planning for a wedding can be tough, especially when money is tight. But as you make your way through the mile-long checklist of things for the big day, have you thought about life after the wedding? Whether this is your first or second wedding, your dream wedding or a spontaneous ceremony, the financial implications of sharing a lifetime with another person last long after the “I do’s.”

To ensure happiness and financial security in any economy, you should be thinking about your financial future today. And, the good news is that taking the necessary steps to a sound financial future is not as complicated as you might think. Here are some things to discuss as a couple, as suggested by financial experts at SBLI USA Mutual Life Insurance Company, Inc:

1) Come up with a Budget
You may have your own budget, but now you are planning income and expenses for two. If you combine your income and expenses, you will need to combine your budgets as well.

Be prudent with your spending. Write down everything each of you spends per month and cut back on non-essentials. Take into account housing, food, utilities and transportation, as well as student loans, credit card balances, car payments, taxes and if applicable, alimony and child support. For further tips on creating a sustainable budget read “Become Your Own Financial Advisor: Tips on Planning a Budget and Sticking to It” at www.sbliusa.com.

2) Begin an Emergency Fund
An emergency fund helps ensure that you and your partner are secure should something happen, such as a job loss or serious health issue. You should agree on how much you want to save for a “rainy day.” It’s a smart idea to save between 5 and 10 percent of your salary in a joint savings account. To avoid the temptation to spend your savings, consider having the money automatically transferred from your checking accounts. Aim to save 3 to 6 months of living expenses.

3) Purchase Life Insurance
According to a study conducted by LIMRA International 48 million Americans either, don’t own life insurance and believe they should, or own life insurance and believe they need more. Purchasing life insurance will give you the peace of mind of knowing your loved ones will have money to help maintain their standard of living should anything happen to you. To access a variety of financial information and tools, as well as to learn more about life insurance and get a free quote, speak with the experts at SBLI USA.

4) Create a Plan for the Future
Take the time to create a written financial plan with clear goals. The plan should include specific and realistic steps to achieve your dreams, including buying a home, starting a family, taking vacations and retirement. Decide what additional investments you’d like to make apart from your regular savings such as maximizing your 401(k) or IRA contributions.

Using financial planning software, such as Quicken, can help with keeping track of your expenses and investments. Decide what your tax filing status will be for the year. Make sure you consider the difference between married filing separate versus joint filing, based upon your particular circumstances. Consult your tax advisor if you are unsure.

5) Pay Down Debt
Credit card debt is the number one obstacle to a secure financial future, and knowing both of your credit scores is essential. You’re allowed one free credit check annually with each of the major credit bureaus: Experian, TransUnion and Equifax. Order reports and go through and correct any inaccuracies. This will help you both get a loan at a lower rate when it comes time to borrow money for a house, car or other major purchase.

Getting married is an opportunity to get a fresh start on your financial well being. These types of wealth-building efforts are extremely beneficial, and create a solid foundation to a long, happy marriage.

Courtesy of ARAcontent

Wedding Savings Tip: Rent the Best and Save

Jennifer — Sat, 05 Jul 2008 23:25:19 +0000

There are a million things to think about when you begin planning a wedding. There are the big things like booking the reception site, the church, the DJ, and, of course, finding the dress. But once those are out of the way, there are little details to think about, such as a theme, the flowers, the centerpieces, linens, invitations, champagne glasses and countless other things.

With all the elements that go into planning a dream wedding, it doesn’t take long to realize that details can add up — not only when it comes to spending, but also when it comes to storage space. After all, who wants to end up with 250 pink linen napkins once the big day has passed?

Renting materials for your wedding from an American Rental Association (ARA) member rental store is one way to solve this problem. Not only is renting often a more economical solution, it also eliminates the storage issue.

“Renting will not only cut down on storage, but you can lower the cost of your wedding too,” says Becky Baumgartner, owner of Aero Rental and Party Shoppe, in Iowa City, Ia. “People often come in to look for materials to buy for their wedding, and I’ll say to them ‘How important is this to you, because it’s more affordable to rent.’ ”

Renting materials for your wedding also gives you access to the latest styles in decor, table settings, linens, chair covers and other things. According to Baumgartner, people often don’t really realize the vast variety of items you can rent for weddings.

In her many years helping couples plan weddings, Baumgartner has learned plenty of lessons. Here are some of her most helpful tips to keep in mind when renting materials for your wedding:

* It’s much more affordable to rent the equipment than to buy it. Chances are you will never use half the things at your wedding again so why would you waste storage space and money?

* You can rent anything you need for your wedding, from a backdrop to hide the wall color at the hall to champagne fountains to holders for the unity candle. Check with your local rental store; they may even sell invitations.

* Rental store employees can help you think of things you might have forgotten. Let them help you in the planning process to make sure that you have everything you need for your big day.

* Unlike halls and churches that need to be booked at least a year in advance, generally you only need to reserve the rental equipment six to seven months in advance.

* Some rental stores allow you to pick up the rental materials on Thursday evening and drop them off on Monday morning for no additional charge. That way, you don’t have to worry about pick-up and drop off on your wedding day.

* A rental store will provide you with more options, in terms of color and design, than a reception hall will.

When it comes to planning your wedding, don’t let the cost wipe out your entire savings account — rent your wedding materials. To find your local ARA member rental business, visit www.RentalHQ.com.

Courtesy of ARAcontent

Don’t Let Money Matters Mar Your Wedding Plans

Jennifer — Sun, 22 Jun 2008 01:36:16 +0000

You’ve seen it on TV, read it in the news and maybe even heard it from your mother: money is one of the top things married couples fight about. Finances can be a source of strife for engaged couples as well, especially as wedding day bills loom and they face the prospect of merging their money after marriage.

“Study after study has shown that disagreements over how to manage money can cause significant stress in a marriage,” says Maxine Sweet, vice president of education for Experian. “With all the other stresses associated with planning a wedding, engaged couples would be wise to act preemptively to minimize conflict over money.”

So how can you ensure money woes won’t cast a shadow over the biggest day of your life – and your wedded bliss afterward? Consider the following tips:

First, establish a budget for your wedding. While planning your wedding is a time for joy and giddy excitement, budgeting is a necessary down-to-earth reality. “Plan without a budget and you may find yourself without enough money for flowers or music a week before the ceremony,” Sweet cautions. “Or worse, you could overspend and start your married life together with unpaid – and unpayable – wedding bills.” Unpaid bills could damage your credit standing, so consider checking your credit report to help you understand your finances at www.FreeCreditReport.com.

To create a budget, evaluate all possible sources of funding for your wedding. In the old days, the bride’s family bore the brunt of wedding day expenses. Many couples now foot the entire bill for their weddings. Luckier ones may draw some financial support from either or both sets of parents. A rare few will have the entire wedding paid for through parental support. Find out up front what, if anything, your parents and your fiancé’s parents can afford to contribute, and how much you will need to put into the budget.

Second, research what you can get for your money. Decide what you can and cannot live without. Are you willing to buy a bargain dress (or use your mother’s heirloom gown) in order to spend more on food? Can you make do with a disc jockey, rather than a band, in order to have extra money to put towards the honeymoon? Is having a chocolate fountain really critical to the wonderful memories you’ll have of your reception?

If your dreams simply outstrip your budget, you may consider financing part of the cost of your wedding. “Couples considering this route would do well to be sure there is total transparency over each other’s pre-marriage finances,” Sweet says.

That means total truthfulness over what each partner earns, spends and owes. If one person already has $30,000 in credit card debt, the couple may rethink their plans to finance another $20,000 for their wedding. Or, if both have excellent credit and little debt, financing can help them fund the wedding of their dreams and establish their credit together as a couple.

“Just as couples exchange rings, they should think about sharing their credit reports,” Sweet says.

Finally, remember to check your credit reports. It is easy to do. Web sites like www.FreeCreditReport.com allow you to get your credit report and credit score. Couples can learn things about their credit scores and total debt that may affect not only their wedding plans, but their life together after marriage.

Courtesy of ARAcontent

Rocking a New Ring in the New Year?

Jennifer — Wed, 02 Jan 2008 23:59:52 +0000

With a twinkle in her eye and sparkle on her finger, it’s no wonder the bride-to-be has a contagious glow. For the bevy of brides who got engaged during the holiday season, it’s time to begin the exciting, yet sometimes hectic task of planning their special day.

To better understand the preferences and attitudes of today’s brides and offer the most relevant wedding planning advice, the second annual “What’s on Bride’s Minds?” survey was conducted by Leflein Associates, Inc. for David’s Bridal, the nation’s leading bridal authority. Following are some up-to-the-minute planning tips to help each woman achieve her own wedding unique style, without breaking the bank:

Keep an Eye on the Bottom Line
First and foremost, establish a budget. Determine which aspects of the wedding are most important, and scale back on items that are not a top priority. Almost two-thirds of survey respondents said that the wedding dresses they found were too expensive. To keep finances in check without sacrificing quality or style, shop at a store that offers a wide selection of designer looks and matches your budget.

Online Oasis
The Internet is a wonderful planning tool and a great time-saver, so it’s no surprise that 53 percent of brides-to-be ranked wedding Web sites as a top resource for useful wedding planning advice, tips and ideas. Today’s brides shop for a variety of wedding products online; invitations were cited as the most popular item, followed by favors, bridal accessories and jewelry and bridal gowns. Among the top Web sites catering to brides, is davidsbridal.com, which offers more than 4,000 unique wedding related items and services. Check out the new db Online Collections featuring stylish bridal and bridesmaid dresses to suit any size, budget and timeline. Or, use the unique Dress Your Wedding tool to create your own virtual wedding party online.

Consult the Experts
When searching for that dream dress, take advantage of bridal consultants’ advice, as they provide great insight into the gowns’ quality, fit and construction. In fact, more than four out of five brides agreed that their consultant positively affected their shopping experience. In addition to these gown gurus, it’s a good idea to bring along a trusted friend or family member to provide honest feedback.

Time is On Your Side
Sixty-three percent of recently engaged women give themselves less than six months before their wedding to purchase their gown, while 38 percent wait until the final three months. If you are planning on getting married under a tight timetable, visit a bridal shop where you can try on the dress in your own size and take it home that day. David’s Bridal stocks a wide array of affordable bridal gowns ($299 – $1200), including designer collections from Oleg Cassini, Monique Luo and Galina, in sizes 0 to 26W, as well as select styles in petite sizes, so you can tell exactly how your dream dress looks and feels on you.

Obliging Bridesmaids
Searching for the perfect bridesmaid dress? The top issue brides found with dressing their bridal party was agreeing on one style to fit all different body types. Coordination remains in vogue, with almost three-quarters of respondents wanting their bridal party to wear the same color or color scheme, and thirty-four percent planning to have their bridesmaids wear the same dress in the same color. It’s a good idea to select a national retailer that carries a large assortment of bridesmaid styles, in a wide range of sizes and colors, for ease of shopping and to ensure everyone looks and feels their best.

Customization is Key
If you’re looking for ways to personalize your look without paying a hefty custom price tag, you’re not alone. Over 60 percent of brides said they would like to customize their gown to reflect their personality, but 40 percent felt it would be difficult to do so without costing a fortune. To solve this all-too-common dilemma, look for cost-effective solutions for personalizing your wedding dress. Try adding optional sleeves, a colorful sash that matches your wedding color scheme or a sparkling brooch. Don’t forget to ask your consultant about coordinating accessories, such as tiaras, veils, handbags, shoes and jewelry; you can never go wrong by selecting pieces that complement your dress and personal style.

Showcase Your Style
To create a seamless look, visit a one-stop-shop and choose a personalized color scheme that makes it easy to coordinate every aspect of the big day. From save-the-date cards and invitations to ceremony and reception items, right down to the icing on the cake, David’s Bridal offers an amazing assortment of options, available both in-store and online, to create a perfectly coordinated event.

While finding the love of her life is up to the bride, following these simple steps will help ease the wedding-planning process and make it more enjoyable. So when the big day finally arrives, her only responsibility will be to enjoy herself as she dances the night away.

To find the David’s Bridal store near you, call (877) 693-BRIDE or visit www.davidsbridal.com.

Courtesy of ARAcontent

Tips for Saving Out of Town Wedding Guests Money

Jennifer — Wed, 10 Oct 2007 21:34:59 +0000

When planning a wedding, it’s important to keep your guests’ finances in mind, especially the ones who are traveling from out of town. The cost of traveling and attending a wedding can be significant, but there are some small steps you can take to make your guests’ stay easier on them and their pocketbook.

“Weddings are an exciting time for everyone. When preparing for a wedding, out of town guests can feel overwhelmed, but the happy couple can take steps to make participating in the wedding easy and affordable,” says Jenny Heger, account manager for AmericInn. “I’ve worked with couples planning weddings before and planning ahead shows your guests you care.”

Here are some thoughts to ease travel costs for out of town wedding guests:

* Hotel
Choose an affordable hotel located near the site of the wedding or reception. Guests will then have an easy time finding their way to the big event. Guests are sure to appreciate amenities included in their stay, such as pool use, a complimentary breakfast and free Internet access. A hotel is also a refuge from all the wedding activities and can be a place of relaxation. Make sure the one you choose is quiet and well managed. For example, AmericInn hotels are built with AmericInn SoundGuard construction, which reduces sounds and vibrations.

* Dining
Eating is something that can be fun when your guests travel to a new town, but as they flip through the local directory they might be overwhelmed by the large number of options. One useful item for out of town guests is a list of local restaurants that you enjoy including a general description of food and menu prices. Choose low to mid level restaurants and consider providing coupons to any local favorites. As a thank you gift, you could even provide a small gift certificate to help with the bill and show your appreciation to them for traveling to your wedding.

* Transportation
Providing out of town guests with numbers to rental companies can help save them time and frustration. Some companies give coupons for groups traveling to a celebration, so consider talking to the company prior to the event. And don’t forget about public transportation! Providing bus, cab, train and subway information can save time and money for guests.

* Activities
Traveling for a wedding is in fact a vacation, so guests might want to enjoy some other activities in your area. Why not make a list of fun and interesting activities so they can get a true sense of your hometown? Free parks and museums provide some of the best of local culture and are budget friendly.

* Keeping it Close
After coming all the way to your wedding, guests don’t want to have to travel all around town, potentially getting lost. When choosing a hotel and suggesting restaurants and activities, try to keep these locations relatively close. Sometimes a simple walk through town to a local café is the perfect option.

“Providing affordable ideas and suggestions can go a long way for many guests who are stuck with choosing whether to come to an important family event and maybe not being able to afford it. These ideas not only show you care, but ensure everyone is able to participate in your big day,” adds Heger.

For more information about AmericInn hotels, visit www.americinn.com/ara.

Courtesy of ARAcontent

Planning Your Wedding Budget

Jennifer — Fri, 01 Dec 2006 19:06:13 +0000

Money is the number one thing that married couples fight about. But do you realize that the tension surrounding money begins long before the happy couple say ‘I do?’ Wedding costs can rapidly escalate out of control which is why it’s so important to begin the planning by devising a realistic budget. And once you’ve got the numbers crunched, it’s equally important that you both stick to the budget.

And while a wedding budget doesn’t sound all that glamorous, it doesn’t have to be a bad thing. In fact, planning your wedding without a budget is almost guaranteed to land you into serious financial debt. What’s the key to success? As it will be throughout your marriage, open, honest, two-way communication is an absolute must.

Newly-engaged couples must talk about how each envisions his and her special day. Women work on the assumption that guys don’t care about the details but that’s not always true. It is, after all, the man’s big day, too and he has a family to please as well.

Once the excitement of the engagement wears off, go somewhere quiet and talk about what’s important to each of you in regards to your wedding day. Listening to your partner’s opinion is as important as talking so be sure to do both. Then, make a list of what you both want (to arrive in a horse-drawn carriage, lobster, renaissance theme, color scheme, etc.) and what are absolute necessities (for example a photographer, caterer, rings, etc.). You’re going to use this information when it’s time to allocate your budget.

Once you both have an idea of what’s important, it’s time to crunch the numbers. You’ve got to determine how much money is available now (for example, in savings accounts, stocks/bonds, real estate, trust funds), how much you’ll have to commit to saving from your regular income streams, and how much you can realistically expect others to kick in. Depending on how far out the actual wedding date is you may want to consider opening a higher-interest bearing account for the money so that it can earn interest.

When considering what others may be able to put towards the cause it’s really important that you don’t make unrealistic demands. Take whatever others are willing to contribute graciously and try not to belabor the issue. Getting angry or disappointed in the amounts you are being given isn’t a very mature way of handling the situation.Â

When you know where the money’s coming from and how much is coming, you’ll know how much you’ll be able to spend. Now make another 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. Because budgeting is so very important for most couples, you’ll find that wedding budget worksheets, software and other tools are available everywhere, so go find one and start using it right now!

10 Tips for Setting a Wedding Budget and Sticking to It

Jennifer — Fri, 01 Dec 2006 18:24:39 +0000

Budget concerns can be one of the most prominent sources of disagreement for a couple in the process of planning their wedding.Â The couple may have different ideas about what type of wedding they want and also about what they can afford.Â It is important for the couple to discuss financial constraints before the wedding planning goes too far.

The first tip for setting a budget and sticking to it is to have a conversation regarding finances well before the wedding planning starts in earnest.Â It is important that everyone involved in the decision making process of the wedding understand just how much money is available to be spent on the wedding.

Another tip for setting a budget and sticking to it is to start saving early for your wedding.Â Putting aside a portion of each paycheck for awhile can add up to a sizable savings that can be used for your wedding.Â This advanced planning and saving will allow you to maximize the budget that is available to you for your wedding planning.Â

Once the budget has been established, set it aside for a few days and then review it again.Â This time away from the budget gives those involved the chance to let the information settle in and the review of the budget after this waiting period gives the participants the opportunity to verify that they understand and agree to the budget.Â This is important because if someone does not agree with the budget, they may be likely to overspend in one area leaving the budget in jeopardy.Â

After an overall budget is established it is important to divide the total amount appropriately to establish budgets for items such as the venue, food and drink, the brideâ€™s attire, the groomâ€™s attire, transportation, entertainment, photography, favors, centerpieces, gifts for the wedding party and even gifts for each other.Â It is also important to partition a small amount of money for incidentals to account for small unexpected expenses.Â

In establishing a budget it is also important to be clear about who will be paying for what items.Â For example, if the groomâ€™s family offers to pay for the centerpieces and you choose to let them, this will allow you to divert your previously designated centerpiece budget to other aspects of the wedding.Â The key to sticking to your wedding budget is to be aware of who has agreed to pay for what.Â

It is important that budgets for each individual aspect of the wedding be established to enable you to follow this next tip.Â This tip advises the couple to be mindful of their budgets for each individual component of the wedding before negotiating contracts for services.Â If you know that you have allotted $250 for entertainment you would be wise to seek out a DJ that is offering his services for approximately that amount and then negotiate your contract to ensure that you remain under budge.Â

Doing as many things as you can on your own is another way to ensure that you are sticking to your budget.Â Crafts and homemade invitations can greatly reduce the cost of your wedding. For example making your own favors or centerpieces can greatly reduce your costs and free up additional budget for other areas of the wedding.Â

Another tip for sticking to your wedding budget is to not view the budget as restrictive.Â If instead of thinking about the things that you canâ€™t afford, you focus on how you can make your wedding and reception truly unique you will be inspired to create a fabulous and memorable wedding despite your budget constraints.Â

Still another tip for sticking to your wedding budget is to shop around and comparison shop for services.Â A limousine company may come highly recommended but if they are not in your price range, donâ€™t be afraid to let them know why you are going to have to choose another company and you may be surprised at how soon they are willing to give you a different offer.

A final tip for creating and sticking to a budget is to realize that there are bound to be snags along the way.Â As long as you remain cognizant of your spending and realize the ramifications of your actions you are likely to realize that if you go over budget in one area, you will need to modify other areas by reducing their total budget.Â

A wedding budget can be a serious cause of emotional strain on a couple.Â It is important for them to discuss their finances and establish a budget for their wedding plans.Â Doing this early on in the wedding planning process can help the couple to avoid conflict during the planning phase of the wedding.Â