Tuesday, October 11, 2011

{ Tasks } The Budget

Know what this is?

It's about the third version of a budget I've created. I think this one is going to work! I think that it's a little depressing how much weddings cost, but at least by tracking our expenses we can see where we are at and what we have left of our budget. We can make better choices when we book vendors and track what and how much has been paid.

At first, I decided not to create a budget tracking tool. I figured we would just wing it and plan as we went. Pfft! Who needs a budget? We would be able to just sort of keep track in our head of what we'd spent so far, right?... HA! Now, three months into planning... I realized the Type-A monster in me just would never be satisfied with that.

Yes, it's the first task after getting your parents and future in-laws to meet... And it is one that will constantly need re-working. I spent a lot of time pulling budget tips and info from The Knot and Wedding Wire and the books I've purchased on wedding planning... Not to mention scouring the message boards on Wedding Bee! And after a full night of hard work... ta da! Out came our spreadsheet. Personalized to us and what elements we will need for our wedding.

I look forward to using this spreadsheet to track our everything... I also dread it a little. I know the first bug purchase is going to instantly make me feel like I can't afford anything else and make my freak out a little about 'all the other things we need to buy yet!' But I think having this done and in place early on will help prevent any major over spending or even... under spending (can you under spend?)

I'm currently tracking our actual expenses, how much is left in our base budget, and how much we are paying for 'out of pocket' (I'm not counting my dress toward our baseline budget, I bought that for me!). I think it will help me keep my DIY spending in line, too! I know I can go a little overboard when it comes to crafting. I have so many good ideas... Just not enough time or money to make them all come to life!

Hopefully working with this tool will help us have the wedding we love at the budget we can afford.

Did you create a formal budget to track your spending? How did you count your costs and track your purchases? Did your budget include your personal splurges or did you keep those separate?

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