Tips on Saving for a Wedding

If you are getting married soon, then it is likely that you will be paying for the wedding. It used to be the case that a bride’s father would pay for the wedding, but these days this is no longer traditional. It means that more often than not, it is up to the couple to pay for the wedding themselves. This can be difficult though as a wedding can be expensive and it will take a lot of time to save up. There are some things you can do though, to make saving easier.

Calculate how much you need

The best way to start is by calculating how much you will need to spend in total. You will need to think about every aspect that you will need to pay for, which can actually be quite daunting! You will need to pay for a venue, registrar, food, transport, flowers, decorations, clothing, gifts, alcohol, cake, honeymoon etc. Some things will be more necessary than others and it will be up to you to decide whether you want to include everything or not. You will also need to decide whether you want to spend lots or a little money on them. There might be some things that you are prepared to spend less on but other things that you will want to spend more on and not be prepared to cut down in those areas. It will be tricky to come up with a very specific amount of money, but it can be a good idea to estimate on the generous side to allow for the fact that things might be more expensive when you get round to paying for them due to inflation. You may also find that there are things you have forgotten and so you will need extra money for these as well.

Save some each month

It is a good idea to save some money each month. This will be easier as you will have a habit of saving. It can be wise to set up a direct debit for doing this. This will allow you to ensure that there is money always going into your savings account and that the fund is accumulating. You should also set this up for just after you are paid. Then you will be able to be sure that the money will be there. We often keep an eye on our account and if there is money there, we will spend it. So, if we can save the money first, then it will not be available to spend.

Find ways to save more

It might be useful to also find ways to increase the amount of money that you can afford to save. There are lots of things that you could potentially do which might help. Make sure, for example, that you compare the prices on everything that you buy. If you can find a cheaper version then consider whether it will give you the same value for money and if so, you might want to switch to buying it. You may also want to consider buying less things. Going without things that you do not need, such as reducing your evenings out, book purchases, holidays etc could mean that you have more money available to save up. You may also want to look for ways to make some extra money. Perhaps, you could work more hours, work a second job or find some ways to make extra money from home. If you do find ways to make more money or spend less, make sure that you put this extra money straight into the savings account.

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