You can book FP+ 60 days in advance when staying on-site whereas MagicBands are customizable around 30 days prior to your vacation, so book FP+ prior to ordering the bands. Also, FWIW, MB don't factor into the FP+ equation whatsoever as your ticket media can be used at the attraction entrances as well.
You don't have to do one before the other, just make sure you know the times when you can do both.
I'd recommend getting your fastpasses as soon as your window opens up (you can keep changing them as much as you want as long as there is availability). If you are staying on-site, you can book your fastpasses at 60 days before your trip. It is 30 days before if staying off-site.
For your magic bands, if staying on-site, make sure to customize before the last day of your customization window. The bands are automatically linked to your MDE account and will ship automatically once that window closes - about 30 days before the start of your trip. If you are off-site, you can buy your bands when you arrive. The CMs will link your band to your MDE account when you buy.
Go ahead and customize your bands now. If you change your mind before 30 days out, you can change the customization.
Your FP+ can be reserved 60 and closer to your trip. They can be change as much as you want after your 60 day mark.
These two things aren't linked together in any way. Your magic band is your link to your MDE account. No information is stored on it other than your account ID. FP+ reservations are on your MDE account (not your band). Your band can be used for fastpasses booked 60 days our, or those made right at the park.
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