If your daughter has chosen a wedding date during the busiest wedding months, you'll have to start looking around at various vendors as soon as she gets the ring on her finger. There is sometimes fierce competition for a certain caterer or band — don't let the competitive atmosphere rush your decision and cloud your judgment.

Only sign a contract after your wants and needs have been spelled out in writing. Make sure your decision is final; once you sign the contract, you'll be required to put a deposit down to reserve your daughter's wedding date. Most of these deposits are nonrefundable. Deposit amounts vary from vendor to vendor, but you should never be asked to pay anywhere close to the full amount up front. There's something amiss with a vendor who wants all of your money right now (when the wedding's a year off).

Also, try to pay your deposits by using your credit card. You'll have a much better chance of getting your money back (in the case of a vendor skipping town or closing his doors) if you put your credit card company on the case.