Thursday, July 20, 2006

Wedding Planning

Planning for marriage in few months then there are few information’s for you. Marriage involves lot of expenditure and if not gone with care about all this then may land in lot of problems. You may plan your marriage in a lavish hotel or in an intimate garden, but all the marriage require lot planning in advance. You are requiring answering few questions in advance like what will be budget. And who are paying? Because now day’s, groom families have also started participating in expenditure. It is better to discuss in advance about the participation in expenditure by both the families and prepare an outline for the expenses in dollar contributions from both the side. The other option is to ask each party to hold individually some programs but it is easier to ask each individual parent to finance a particular aspect. It is important to have clear planning on the part of the ceremony, bridesmaid gifts, honeymoon, or catering. In a survey, it is found that 37% of the couples are willing to participate in their wedding expenses. Second question which comes into mind is that how much amount is enough to execute a fairly cool wedding. The average cost of 150-person wedding is around $25,000. The basic breakdown can be 48%-50% on Reception, 2%-3% on Ceremony, 8%-10% on Attire and Flowers and Entertainment/Music each, 10%-12% on Photography/Videography. The other things like Stationery, Wedding Rings and parking transportation costs ranging from 6%-9% and one can hold about 5%-8% for misoellaneous. It is always advisable to have at least 5% extra money secured for un-thought events. One can start saving for marriage from the time of engagement and a goal of 20% saving per month is fairly enough to finance all the costs. More over the value of this money can be enhanced by depositing money in money market accounts or buying CDs instead of lower interest rate bank accounts. One can find double interest rate by these accounts however it is advisable to read the risk documents and take all the necessary precautions.

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