The Hard Truths About Setting a Wedding Budget
Join me in this new episode of Ellwed Talks, where we talk with Leah Weinberg about The Hard Truths About Setting a Wedding Budget!
Leah Weinberg is the Owner & Creative Director of New York City-based wedding planning company Color Pop Events and author of the newly published book, The Wedding Roller Coaster.
Celebrating seven years of business, Leah continues to leverage the organization skills, calm communication style, and ability to multi-task she initially developed as a commercial real estate lawyer in her previous career.
Her colorful work and party planning tips have been published online and in print with Vogue, the New York Times, People, CNBC, Bravo, Martha Stewart, and The Knot, among others.
Recently, Leah has been recognized as a 20 on the Rise winner by Honeybook and the Rising Tide Society, one of the 25 Young Event Pros to Watch by Special Events Magazine, and one of BizBash’s Top 500 Event Pros in the US.
A WeddingPro Educator with The Knot + WeddingWire since 2020, Leah travels throughout the country sharing insight with her peers regionally, as well as at national conferences such as ALT Summit, NACE Experience, and The Special Event.
In this episode you can meet Leah and find out her career path and why she decided to write The Wedding Roller Coaster book. We dive deep into all important things on your wedding budget and where to even start! Stick to the end and hear Leah’s advice!
Tell us a bit about your story, what lead you to your current career path?
Early in my legal career, it became clear that I was destined to be my own boss. Constantly brainstorming business ideas (I came dangerously close to enrolling in pastry school so I could open a bakery), it wasn’t until I planned my own wedding in 2012. Which I found to be enjoyable and pretty easy (not the normal reaction, I know)—that I knew I’d found my calling. Wedding planning combined my passion for spreadsheets with my need for a creative outlet with my love of seeing people relax, smile and laugh. Therefore, in 2013, I launched Color Pop Events to bring my eye for detail, style, and flawless event execution to couples in and around New York City.
What are the most important things to think about when Setting a Wedding Budget? And where do you start?
- Firstly, it can be helpful to understand how everyone involved feels about money. Is it a hot button issue? Does one person spend more freely? Does one person prefer to save?
- Then you have to get a grasp on how much venues and vendors cost in your area
- What are your spending priorities….where do you want to splurge and where do you want to save?
- Look at your own finances and see what you can afford. (I do NOT recommend going into debt for your wedding)
- Are there outsiders (family, friends) who have offered to contribute financially or who you could ask to contribute financially?
- Deciding whether to self-fund or accept outside contributions
What are the uncomfortable talks you have to have when deciding whether to accept outside contributions?
- You have to get clear on how much they can contribute. It’s never easy to point blank ask someone “How much money will you give me for my wedding?”
- You have to find out what they are expecting in return for giving you that money. Do they want a say in how the money is spent? Do they just want to be kept in the loop generally? Is there a specific part of the wedding their money can pay for and that they can get involved in?
- Depending on what strings come attached to the money, a couple might decide to turn it down.
So, before Setting a Wedding Budget, who usually pays for what? Traditions VS reality.
In the US, “etiquette” says that the bride’s family pays for the majority of the wedding. And the groom’s family pays for the alcohol and the rehearsal dinner. But what if there are two brides or two grooms or a partner that is non-binary?
I think it’s also helpful to let couples know that they also have to talk about money matters post-wedding. Will they totally commingle their money, will they keep it totally separate? Or will they have one joint account to pay bills from but then maintain separate accounts for personal spending? Maybe they will contribute equally to a joint account?
Tell us a bit more about what you are currently working on?
On April 6th, I am releasing my book, The Wedding Roller Coaster!
You can get the book on Amazon
If someone wants to get in touch with you, where can they find you?
They can reach out at Leah@colorpopevents.com
Or on my website www.colorpopevents.com
I am @colorpopevents on Facebook, Instagram, Pinterest and Twitter!
Listen more episodes here or head over to ellwed.com/podcast:
033 – All You Need to Know About Diamonds & Engagement Rings – Interview with Sonu Company – Ellwed Talks About Destination Weddings in Greece
- 033 – All You Need to Know About Diamonds & Engagement Rings – Interview with Sonu Company
- 032 – The Easiest Way to Fund Your Honeymoon – Interview with Sara Margulis of Honeyfund
- 031 – 4 Things You Need to Know Before Designing Your Wedding Stationery
- 030 – Are you Having Bridesmaids at Your Destination Wedding?
- 029 – 5 Top Expert Tips on Bridal Beauty with Barbie of Cinderella Bridez
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