Your dream wedding is within reach – you just need a few saving strategies to make it happen. You’re engaged and ready to get the planning underway. It’s a fun process, but with the average cost of a wedding upwards of $30,000, trying to figure out how to pay for it can become a major stress factor. Avoid going into debt and feeling super over-welcomed with this guide for bringing your dream wedding to life without compromising your finances. Weddings are after all about the love your new spouse, not about how much or little you spent. Here are 5 wedding saving strategies!
PRIORITIZE YOUR NEEDS
Together as a couple, decide what is important to you as a couple and then prioritize them. In my wedding budget breakdown, I list out a roadmap of how to allocate your budget. Take this as a jumping off point and then adjust for whats most important to you. For some that might be the dress and attire, for others that might be the decor and a killer venue, or the food and a band. Factor in your long-term goals when deciding how much to spend on your wedding.
SET A BUDGET
Set a realistic budget and stick to it. How much you need to save depends on your anticipated costs of the wedding. Be realistic and give a little cushion for unanticipated wedding costs.
You may need to extend your engagement to give yourself enough time to save to reach your dream wedding goal. A $30,000 wedding requires a monthly savings of $2,500 for 12 months. If your wedding favors or wedding invitations are out of your reach, try to DIY them.
START YOUR WEDDING SAVING STRATEGIES EARLY
As soon as you get engaged, start saving. Even if you’re not ready to start planning. The earlier a couple starts saving for the big day, the more you’ll be able to save. Try using an online savings calculator to reach the target amount.
OPEN A WEDDING FUND ACCOUNT
Open a separate account for you both to use solely on the wedding. If you are paying for things on your credit or debit card, you may forget to log smaller expenses that really do add up.
USE CREDIT WISELY
I get it, you want to benefit by using a credit card to rack up the points. It’s alright to do this, just be sure to pay off the balance off immediately. This is one of the best wedding saving strategies to avoid carrying a balance at all costs. If you’re unable to pay for the charge within the billing cycle, this is a clear sign you are going over budget.