The “B” Word - Budgets and Spending Priorities

The past few weeks have been a whirlwind of excitement in the MasterPiece Weddings office, what with the holidays and wrapping up our last weddings of 2009. So, to jumpstart things back up again we thought it might be fun for someone else to chime in a bit.

Karry Castillo, of Uniquely Yours, is a dear friend and wonderful planner in the industry, and was kind enough to send along a post on breaking down the budget and assessing priorities - critical tasks to be able to take on as a wedding planner. Read below for her advice. And, thank you Karry for your wonderful post!

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Let’s face it, everyone wants to save money these days and make their dollars go farther than ever before. Clients value smart planners who are savvy when it comes to developing budgets, even more so when their projections for their dream weddings come under budget.

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One of the very first steps in your planning process with any client is budget development. Much of the information you will require to develop a client’s budget should be covered during your first few consultations. Every wedding is different, so a budget that works for one client most likely will not work for another. True, you can find all kinds of budget profiles and recommended percentages in the bridal publications and online. But if you are really providing custom services, then you should be focused on your client’s spending priorities. The standard budget percentages for food and beverage apply to most weddings, being 50% to 60% of the overall budget, but there is great flexibility among the other budget categories dependent upon your client’s personal spending priorities.

One of your budget-focused tasks should be to review the major wedding budget categories and discuss which categories will be included in the budget and whom will be paying for those category products/services. Another important task in this process is to prioritize the budget categories. A bride who loves photography will want to allocate more money towards a gifted photographer, whereas a bride who is a “foodie” will want to allocate more money towards an amazing food and wine experience for her guests.

Knowing the spending priorities and parameters will make development of the budget easier for you, resulting in a well thought out budget plan that will guide the decisions you make with your clients through the planning, referral, and design processes. Your clients will feel valued because you have taken the time to listen to their desires and respected their spending parameters. And you will have become a rockstar planner in their eyes, proving the value of your services from the beginning.

I'M A PLANNER ON BE A PLANNER: Valerie Metrejean

Valerie Metrejean | Southern Fete

Name: Valerie Metrejean

Location: Lafayette, Louisiana

Company: Southern Fete, The Wedding Shoebox, Butterscotch Press

Years in Business: 1 and 1/2

Website: southernfete.com, theweddingshoebox.com, butterscotchpress.com

Blog: southernfete.wordpress.com

What do you specialize in (Day of Coordination, Full Service Design…)?

Full-service design. Southern Fete caters to brides who want a creative approach to their wedding day.

What are your three favorite sources of wedding inspiration?

Southern Weddings Magazine, Martha Stewart Magazine and House Beautiful Magazine. All magazines! I graduated in journalism and have so much appreciation for printed materials. All that inspiration chocked full in something I can carry anywhere. But of course, wedding blogs also. I could get lost for days perusing them!

What made you get started in wedding planning?

I was a bridesmaid in three weddings in 2 months. I saw so much stress and wished I could do more. When I looked into working for a local wedding planner, I saw an open market and launched my own business. I never imagined I would ever own my own business.

What is one thing in your office that you could not live without, technology excluded?

Hands down my MacBook. Visually though, I’ve been able to create my office infusing my own personality completely. OK, I’m a little biased but it’s beautiful! And it keeps me inspired me to constantly make other things beautiful.

If you could make one recommendation to a new planner, what would it be?

Knowledge and experience are invaluable. I completely recommend getting certified and training like Melissa offers. Also know that at some point you need to just do it. Don't be afraid that you aren't ready. When I started, I had helped a wedding planner with one event. That’s it. I booked 5 weddings before I had done one by myself because I carried myself with confidence. I have heard too many wedding planners say they should have started sooner. Don’t wait!!

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