| How should I handle paying for expenses? |
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Set money aside and use one credit card. As soon as you become engaged, it's a good idea to open a bank account that's dedicated to only your wedding expenses. Some couples like to use one particular credit card and charge all wedding expenses on it. Using one credit card will not only help you keep track of your expenses, but the right kind of card will also log frequent flyer miles (or other splendid perks). And, those miles can come in handy when planning the honeymoon. |
| What expenses should I track? |
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Buy a notebook and jot down every wedding expenditure from the smallest expense to the most costly. It's a good idea to write down a dollar amount above each category and then record expenditures in that category directly underneath the target number. That way, you can track your spending and make adjustments along the way. |
| What computer tracking options are available? |
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You've really got your pick when it comes to software to help you track your budget and evaluate your expenses. Ask your friends what programs they use, either at home or at work, and what features they like and dislike. Then set aside a couple of hours one afternoon or evening to set up your program. It may seem time-consuming, but you'll thank yourself many times over if you run into discrepencies in pricing or lost expenses along the way. You'll be able to backtrack, see where the errors occurred and possibly get them fixed. A low-cost option is to look into the services your bank provides. A great deal of banks are on the Internet these days and provide easy-to-use software that's connected directly to your bank account. What more could a time-strapped bride and groom ask for? If your bank doesn't provide these services, consider opening your wedding account with one that does in order to utilize these time-saving services. |
| Do I need to keep my receipts? |
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Purchase a file folder that has different pockets, and label each one by category: flowers, caterer, music, dress, bridal party, etc. Then, file wedding receipts in the appropriate pocket and add up those receipts weekly. Keep a running total. |
| Are there benefits to hiring a financial planner? |
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A financial planner can help you chart a financial course and then help you stay on that path. In addition, you get to develop a relationship with a financial planner early on. This same planner can also assist you in later decisions such as buying a home, making wise investments and so on. |
| Is there anything else I can do to keep my records accurate? |
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Don't let a week go by without talking to your better-half-to-be about your most recent wedding expenses. It's true what they say, “Two heads are better than one.” So, put both of your heads to work and remind one another of budget constraints and expenditures. |
