Wedding Budget And Contracts
What are the most important things to remember when making a wedding deposit?
When you make a deposit on your wedding, the amount of the deposit is going to depend on the vendor. Is it a venue? Is it a photographer? Is it a florist? Some vendors are going to require as much as a fifty percent deposit when you go to book. Others will require a very nominal fee in order to hold the date. You want to look at that, and you want to make sure that you know what happens if you cancel. Maybe something happens, and you change your wedding date and you're going to cancel that date. Do you get back any part of that deposit? That's going to be part of your question, and I always like the idea of putting it on a credit card, so that should you have any problems whatsoever, you will have some kind of recourse.
What are the most important things to remember when I sign a wedding contract?
When you sign a wedding contract, the first thing you want to do is make sure they put the date down correctly. Sometimes that happens, where they have your date wrong, so you want to make sure they have the right date on that contract so that you really have the vendor reserved. You want to look and see if there's any escalation clauses in there. If you book a venue far in advance, they'll tell you what the price is now, but it may tell you in the contract that if the price goes up you're going to have to pay an additional fee. You should try to cut a deal with the venue to change that contract to say that the fee is going to be guaranteed at today's price.
What is a wedding 'price-escalation' clause?
A price escalation clause may appear in a contract with a wedding vendor. It says that the price is going to go up at some future date. What you want to do is make sure that's okay with you, and that you know by how much it's going to go up.
How would you break down the typical wedding budget?
The typical wedding budget has many elements to it. The first thing that you want to look at is the cost of food and beverage. The food and beverage is typically 30-35% of your budget. After that, whatever is left you're going to use on photography, invitations, videography, clothing, beauty, makeup and hair, and things of that nature. Beauty costs might come to 2%, invitations approximately 2%, and your flowers could be 5 to 10% of your wedding budget. It depends on what you want. Photography could be around 8%, attire is around 10%, and your music is around 10% of your budget. This could be even more if you have chosen a very expensive 10-piece band.
What are some suggestions for cutting the wedding budget?
Lots of couples need to cut their wedding budget, and they have to figure out how to do it. If you choose a different day of the week, you could cut your wedding budget. Saturday night is the most popular. Saturday night is date night. That's going to be the most expensive time that you can book a wedding venue. If you book a Sunday, if you book a Friday, if you book a week night, you're going to absolutely get a reduced rate. On those off days, you're going to do better with your vendors as well. You might get a better price from a photographer or from a band. The other way that you can cut the wedding budget is by looking at what kind of food you're serving. What time of day are you doing this? A Saturday night dinner is more expensive than a Saturday afternoon lunch. Also look at your music: DJ or band. DJs are less expensive; a band is more expensive. Don't forget about alcohol. What you serve at the bar after your wedding can really make a big difference. An open bar all night long is going to be very costly. If you want to be elegant and lovely, you can have an open bar during cocktails, and then perhaps you would pour some champagne or wine and not keep that bar open all night long. Let the guests order a drink if they want another drink. It will really cut down on the amount of alcohol that you use.