Issue link: http://digital.canadawide.com/i/162483
realadvice Budgeting 101 The smoothest wedding plans start with a realistic budget By Kim Mah Illustrations by Rachel Gordon Stay Out of Debt Dunsworth's first tip? "You don't want to incur debt, period." A heavy debt load can put enormous strain on a couple anytime, but it's particularly challenging in a new marriage. Do you really want to spend your first few years together struggling to pay off an over-the-top wedding? Instead, suggests Dunsworth, consider your income-to-cost ratio in working out what you can truly afford: "Look at how much you're bringing in every month and what you either have to sacrifice or find a way to earn a little bit more, between now and your wedding." Whether you're getting married three months or three years from now, average your total estimated wedding costs over that time period to determine how much you can either save or earn before the big day. In the long run, planning a wedding that's within your means will be far less stressful — and pave the way for a worry-free new life together. Earn Extra Cash I f you've been walking on air with your head in the clouds ever since your engagement, you're likely also imagining the perfect fairy-tale wedding in glorious detail. But it may be time to pull yourself back down to earth and start turning that dream into reality. The first step? Put together a firm budget, before you get carried away with planning a spectacular occasion that gobbles up your life's savings. How exactly do you know what you can afford? We asked Vancouver money expert Katie Dunsworth of TV's Smart Cookies and smartcookies.com to share her own savvy tips on creating a realistic budget — and sticking to it. 24 For her own wedding, Dunsworth spent about $20,000, a figure she notes is considered average these days, with many Lower Mainland couples spending between that amount and $30,000 on their day. Rather than rack up debt, Dunsworth managed to earn enough to cover the entire cost by taking on freelance public relations work in her spare time. "Not everyone necessarily has the opportunity to make money in that way," she admits, "but there are definitely things in your life you could be selling to earn a little bit more, or there's additional work you could take on, whether it's freelance design or helping someone clean out a garage." Chances are there are a number of ways you could earn extra funds, if you have the time and inclination. R EA L WEDDINGS p22-29_Real Advice.indd 24 4/24/12 2:50:39 PM