Budgeting Question

jessica08bride Posted: May 18, 2007 11:59 AM

Budgeting Question

hello all - need advice and looking to get opinions.

the budget is seriously out of control. only one of my vendors took a credit card, and while i dont want to charge everything up, it is pretty stressful when everyone only wants to take cash or check. even my dress place didn't take a cc.

so my question is, how did you guys budget yourselves? do you send in payments every so often (possibly, decreasing your account every month) or do you just save and pay in one lump sum towards the end of the wedding (but i feel like later on, there will be less cash to spare)?

we are ok now but i know as time goes along, the money will get more sparse....anyone have opinions on this, or am i just thinking way too much?

tia.

Kara and Todd Posted: May 18, 2007 12:03 PM

Re: Budgeting Question

We only made the payments / deposits we were required to make. We saved our money in a high yield money market account so that we would earn 5% interest on it while waiting for those upcoming final payments.

If it's easier for you to make payments as you go, though, I'm sure many of your vendors won't mind.

MnM52607 Posted: May 18, 2007 12:14 PM

Re: Budgeting Question

We only gave the deposits that were required and saved the rest. This way we could gain interest on our money. The last few months we were getting close to $200 a month in interest.

tbone66 Posted: May 18, 2007 04:19 PM

Re: Budgeting Question

Agreed. Better to save your $$$ and earn interest on it rather than to give it to your vendors early.

SusiBtoM Posted: May 18, 2007 04:32 PM

Re: Budgeting Question

Made the inital deposits and am saving up to make the rest. Using the cc for dire emergencies only, and bringing it to RH in case unexpected guests show up.

If you need to make payments, ask your vendors if you can pay them x$ every month to reduce the final amount.

Whatever works out the best for your situation.

LB and DC Posted: May 18, 2007 04:57 PM

Re: Budgeting Question

the only thing we have put on our CC so far it the honeymoon and the down payment for the RH (about 7 months ago). everything else has been paid in cash (although mom did buy my dress and did the down payment for the photographer and invites). i would advise not booking with a place until you have a down payment for it, and with most vendors, 6-9 months is enough time to book if you want to wait to save $.