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Money Talk With Tiff

Money Talk With Tiff

    Money Talk With Tiff
    Episode•June 25, 2020•24 min

    Event Planning on a Budget with Nikki Byrd | Ep. 42

    In this episode, Tiffany sits down with event planning extraordinaire Nikki Byrd to pick her brain on event planning, especially amid a crisis.  They talk about how event planners are essential to saving money. About Our Guest Nikki Byrd is the proud owner of Byrd Nest Events and Design LLC. They are a full-service event planning and design company located in Winston-Salem, NC. They love showing you how to have your Rainbows 🌈 and Unicorns 🦄. They welcome the opportunity to help couples manage the most important day of their lives. Nikki is a graduate of QC Event Planning. She has studied at the Art Institute of Pittsburgh for interior design. She has 3 grown children, a partner of 19 years, and eight grandchildren. Byrd Nest Events and Design LLC. seeks to provide the best client experience possible. So come fly over to our nest! Follow her on Instagram: https://www.instagram.com/byrdnestevents Follow her on Facebook: https://www.facebook.com/byrdnestevents Connect with Tiffany on Social Media Facebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwitht LinkedIn: Tiffany Grant YouTube: Money Talk With Tiff Channel Pinterest: Money Talk With Tiff This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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    Key Takeaways

    • 1

      Event planners save money by keeping couples on budget and negotiating vendor rates

      Planners help reallocate funds from one area to another to stay within the stated budget

      They can negotiate vendor prices down (e.g., $600 quote reduced to $400)

      They prevent overspending on unnecessary extras like elaborate cocktail hours

    • 2

      Hiring family or friends to coordinate events prevents them from enjoying the celebration

      Tiffany's Zoom wedding experience showed her best friend couldn't fully participate because she was handling logistics

      Mothers of the bride/groom should be celebrating, not managing vendors or food service

    • 3

      Always get 2-3 vendor quotes and be realistic about your budget

      Research thoroughly and compare pricing from multiple sources

      Newer planners may offer lower rates while building clientele

      A $500 full-service wedding budget is unrealistic given 70+ hours of work involved

    • 4

      Event planners handle both seen and unseen issues, saving time and stress

      They manage last-minute problems (like a popped button) without the couple knowing

      They save time on calls, emails, and vendor coordination that working couples don't have

      This applies to weddings, graduations, baby showers, and even small events like teacher appreciation drives

    • 5

      Starting marriage with wedding debt creates long-term financial stress

      Putting weddings on credit cards can lead to debt lasting beyond the marriage itself

      Money is one of the top reasons for divorce, so starting in deficit adds pressure

      Minimal cocktail hours and redirecting savings to honeymoons or bills is recommended

    Intro

    • Tiffany interviews Nikki Byrd, owner of Byrd Nest Events and Design LLC, about how professional event planning can save couples money and reduce stress, especially during challenging times like the pandemic.
    • Nikki Byrd is the owner of Byrd Nest Events and Design LLC, a full-service event planning and design company in Winston-Salem, NC. She is a graduate of QC Event Planning and studied interior design at the Art Institute of Pittsburgh. She has three grown children, a partner of 19 years, and eight grandchildren.
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    – Why Nikki Became an Event Planner

    • Nikki shares that she was always the family member planning baby showers and birthday parties. She emphasizes doing what you love rather than working a job you don't enjoy just for the money.

    If you do something that you love, then the money is just that extra perk.

    – Nikki Byrd

    – Why Event Planners Are Essential

    • Nikki explains that while family members can help get you down the aisle, they lack the skills to manage vendors, venues, and budgets. An event planner keeps you on track financially and finds creative solutions within your budget.

    When you first say that I'm getting married, everybody wants to be in the wedding. Everybody wants to help out. And there's nothing wrong with that. But when can they enjoy your celebration?

    – Nikki Byrd

    – Budgeting for Weddings and Avoiding Debt

    • Tiffany shares her own Zoom wedding experience during COVID, where unplanned expenses like catering and cake quickly added up. Nikki stresses that without a clear budget, costs spiral out of control, especially for newlyweds starting their marriage in debt.

    I've seen people where they put everything on a credit card and the marriage don't even last a year.

    – Nikki Byrd

    – Money-Saving Wedding Tips

    • Nikki recommends keeping cocktail hours minimal—just cheese, crackers, and wine—rather than elaborate appetizers. She suggests redirecting that money to a honeymoon or paying bills instead of spending on a one-day party.

    Cocktail hour for me is just for the bride and the groom and the family to take pictures. That's all it is. And it's just, it's a spot filler. So why spend all that money?

    – Nikki Byrd

    – Event Planning Beyond Weddings

    • Nikki notes that graduations, baby showers, and drive-by celebrations all require planning. Tiffany shares her experience coordinating a teacher appreciation lunch, which was far more complex than expected.

    Fail to plan, plan to fail.

    – Nikki Byrd (quoting Benjamin Franklin)

    – How Event Planners Save Time and Money

    • Nikki explains that planners handle both visible and invisible issues, from popped buttons to vendor coordination. They save working couples time on calls and emails, which ultimately saves money. She carries an emergency wedding kit with Tylenol, sewing kits, and breath mints.

    Event planners, I say they take care of the seen and the unseen.

    – Nikki Byrd

    – Research and Realistic Budgeting

    • Nikki advises getting 2-3 quotes for every vendor and being realistic about budget expectations. She notes that planners can negotiate better rates and that there's always someone within your price range, including newer planners building their clientele.

    Always get two to three quotes. And one thing is there is always someone in your price range.

    – Nikki Byrd

    Topics

    event planningwedding budgetfinancial planningmoney and marriagevendor negotiationpandemic planningdebt preventionprofessional services value

    Event Planning on a Budget with Nikki Byrd | Ep. 42

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