Your wedding day should be the most spectacular day of your life. It’s also likely to be the most expensive day of your life. It doesn’t have to be, but the chances are that once you’ve factored in the cost of a venue, food, guests, transport, accommodation, suits, and dresses, you’ll have spent more on your wedding than you did on your car. That’s why it’s a good thing that in most cases, we only have to get married once! It’s a beautiful occasion, but the financial side of saving and planning for a wedding can be extremely stressful. The key is to start saving for your wedding now.
It’s not a secret that arguments about money are the most likely thing to kill any marriage. If you’re arguing about money before you even get to your big day, it doesn’t bode well for the future, and it can ruin the whole occasion for both you and your spouse. That’s why it’s so important to come up with a plan for funding your wedding long before the day arrives, and come up with ways to build your savings pot without ruining your quality of life, or causing conflict or unhappiness between yourself and your partner. Here are five ideas that might help you on your way.
Avoid Weekend Weddings
The majority of weddings take place on weekends, and Saturday is the most popular of those two weekend days to have your wedding on. The popularity of weekend weddings is reflected in the cost of hiring venues and wedding services on weekends. If you were willing to shift your wedding date to a weekday – and especially a weekday between Monday and Thursday – you’d find that the cost of booking your venue drops by up to 50% in some cases. It’s less convenient, because you and your guests will have to book a day off work to attend, but if your guests really care about your special day they’ll be happy to take a day off work. If they’re not willing to do that, do you really consider them to be good enough friends to come to your wedding in the first place?
Use Savings Accounts
The global financial market has been somewhat erratic since 2008, when the last major recession hit. That’s made some people – and especially younger people – distrustful of savings and investment accounts. As we’re always told, investments can go down as well as up. Because of that, some people consider them no more reliable as a means of generating wealth than a no deposit casino. Granted, there are several games at online slots websites with a jackpot high enough to pay off the full cost of your wedding in one go, but we’d never advocate trying to do so! The big difference is that you can lose all of your money playing online slots if you’re not careful. A savings account doesn’t come with that pitfall. You might not make a huge amount of interest in the current marketplace, but a small return is better than no return at all. It will help you pay a few more wedding-related bills if you can make a few hundred dollars on saving for your wedding in the year running up to your wedding.
Use The Skills Your Friends Have
You never know how useful your friends might be until you ask them. Do you have a friend who’s a graphic designer? If so, they might be willing to design and print your invitations for a low price, or perhaps even no price. At least one of your friends is probably a gifted photographer. You might have a friend who’s a musician or in a band and would love to play at your wedding. Perhaps someone you know is a florist. Even if they’re not, the friends of your friends might be. You have access to a whole network of professionals, and you might not even know it. There’s no reason to pay full price for someone you don’t know to come in and provide a service for your wedding when you can acquire the same service either as a favor or at a knock-down price. Friends that are willing to play a role in your wedding can bring help considerably towards saving for your wedding.
A big wedding is a complicated wedding. How many times have you been invited to a wedding and been surprised to receive an invite, because you’re not especially close to the person who’s invited you? How many times would you actually have preferred to have received an evening invite, because that’s when the party starts and you felt like an intruder at the intimacy of the ceremony? There’s nothing wrong with focusing on the people who are closest to you for your ceremony and bringing everyone else in for the party later on. The more people there are at your ceremony, the more people there are to cater for. Half of the total expense of your wedding is food, drink, and catering. The fewer the people there are at the event, the lower the cost will be. Party with everybody by all means, but share the most intimate part of your day only with the trusted few.
Show Discipline When Cutting Costs
Unless you’re lucky enough to be rich, you’re probably going to have to make a few sacrifices to pay for your wedding. When you’re making those sacrifices, remember that it’s not forever – it’s just for as long as it takes to build your necessary lump sum up. Do you really need a cable television subscription for the next few months when you’ll be spending so much time on wedding planning anyway? Could you tolerate going to a cheaper grocery store for a while and saving on your weekly food bill’s cost? Spend a month tracking everything you spend money on, and at the end of the month, sit down and work through your records. Work out what was essential and what wasn’t. If it wasn’t essential, don’t spend money on it again until after the wedding. A lifetime of happiness is worth a few months of sacrifice, and your day might even feel all the more special because you’ll feel like you’ve earned it!
Borrowing is always an option, but it should be a last resort. Taking out a huge credit card or loan will comfortably pay for your wedding, but it feels a lot less romantic when you’re still paying the bill off years later! Try to do it the hard way first, and only fall back on borrowing if the day is getting closer, and you have no other options. That way, there will be fewer arguments about debt in the future. Saving for your wedding now is the smart thing to do even if the wedding is a year off.
Featured Image by olcay ertem from Pixabay