Wedding Planning and Budgeting
CJ Miller, CFP, RMA @ Sensible Money talks about wedding planning and budgeting for your best wedding.
Key Takeaways
- Create a detailed budget before making any vendor commitments—it provides the framework to make tough decisions about guest count, venue, and services without ending up in debt or depleting savings at the start of married life
- Secure the three big contracts first (venue, caterer, guest count) to lock in major costs, then adjust smaller expenses like band and alcohol around that fixed framework
- Negotiate with vendors by asking for customized packages combining elements from their different tiers—for example, requesting silver photography package plus a second photographer instead of automatically paying for the full gold package
- Save money by getting married on Friday or Sunday instead of Saturday (CJ got a 25% venue discount by moving to Friday) and add cash funds to your gift registry so guests can contribute to honeymoon or lessons instead of unwanted appliances
- Pay vendor deposits upfront when possible to avoid large bills hitting your checking account during the final 6 months before the wedding, which prevents that money from being spent elsewhere and reduces the psychological burden of multiple bills arriving simultaneously
Wedding Planning and Budgeting: CJ Miller, CFP, RMA @ Sensible Money talks about wedding planning and budgeting for your best wedding. To see more free personal finance videos on finStream featuring CJ Miller, please click this link: https://www.finstream.tv/featured/cj-miller/
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