You recently got engaged to the love of your life and can’t wait until the day you tie the knot. There’s nothing you want more than to share your love for one another in front of friends and family. The only problem is, you’ve heard that weddings are expensive. On average, couples spend $19,000 for their big day, an amount that seems impossible to acquire. It could take years (if you’re lucky) to save for a wedding that encompasses everything you desire.
Do you push the wedding out several years? Or, do you compromise on things you want to reduce the costs? While these may seem like your only options, they’re not. If you tighten your purse strings and think outside the box, you can accumulate the money you need to plan the wedding of your dreams. Continue reading for suggestions.
Automatic Savings Plan
The first way to save for your dream wedding is to open a savings account and set up an automatic plan. Having a predetermined amount withdrawn from your checking into your savings account will ensure that you stay on track to reach your goals. The added interest from your savings should also serve as motivation.
Crunch Your Budget
It’s time to take a hard look at your current finances. Are there lump sums of cash that you could designate to your wedding fund? Before you assume, there isn’t, reevaluate your budget.
Where is your income going? Are there things you could eliminate or reduce that would increase your savings? Perhaps you go without cable television for the next few months, downgrade your cell phone bill, use coupons when shopping for groceries, or reduce entertainment expenses like date nights and takeout.
Reduce Debt
Entering into a marriage with a ton of debt is a surefire way to cause friction.
Debt also consumes so much of your income that it leaves little room to save. So, if you want that dream wedding and a happy marriage, it’s best to start knocking down that debt. You can negotiate deals with creditors or turn to solutions like balance transfer credit cards, debt consolidation loans, and debt management plans to get your finances intact.
Sell Big-Ticket Items
When you move in with your spouse, chances are you’re going to consolidate personal belongings to make a comfortable home. Why not sell some of those things to earn more money for your wedding?
Go through your belongings and list anything that you no longer want or need. Then, find ways to sell them. The more expensive the item, the more you can expect to receive.
For instance, you could sell your car on a platform like https://carvio.com could get you several thousand dollars. You can also sell outdated computers, smartphones, and other electronics for a significant return.
Periodic Payouts
Your regular income may not amount to much savings for your wedding, but there are other solutions. Take periodic payouts, for instance. Instead of spending your pay raise, holiday bonus, or tax refund, put it into a savings account to get to your goal faster.
Side Gig
Another option to save money for the wedding of your dreams is to get a side gig. Unlike a full or part-time job, a side gig is something you get paid for in your spare time. You can answer surveys online, write reviews for cash, start a blog, become a freelance writer, walk dogs, babysit, or even cut grass. Any money you receive should be placed in your wedding fund.
There’s no denying that weddings are expensive. Even though there are ways to plan a wedding on a budget, you still want this special moment to be everything you dreamed of.
Rather than waiting years to get hitched or cutting out things you truly desire, use the savings methods like those described above. You’ll find that reaching your goal is a lot easier, and before long, you’ll be planning a wedding you’ll treasure forever.
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