You’ll soon realize when you start planning your wedding, just how expensive they can be. All those little costs that you had never thought of, start adding up. Add to this the big-ticket items such as the venue and wedding dress and you’re looking at thousands of dollars.
The average wedding costs just under $25,000, that is a huge amount of money. Sometimes, couples are helped out financially by their parents, but for most, they need to find the money themselves to create their perfect day.
Read on for some tips on how to save up money for your wedding.
Set your budget
Knowing how much you need to save will give you a figure to work towards. Even if your wedding is a long way off, do some initial planning so that you know how much your ideal wedding will cost you. It’s a good idea to add 10% to this for contingency for any unexpected expenditure.
Open a wedding account
Separate your wedding funds from the rest of your finances. Not only will it give you a clearer idea of how much you have, but it will stop you from spending it. Set up a monthly payment from your main accounts for an amount you can afford.
If your wedding is a year or more away, open a high-interest savings account that can add interest to your savings after a year. It may not be a lot of money but it still counts towards your total and small amounts here and there can really make a difference over time.
Take a second job or start a side-hustle
If your salary is just about covering your living costs, then saving for a wedding is going to be tough. Finding ways to make more money in the short term can be a smart way to boost those wedding funds.
Look for second jobs you can fit around your existing commitments. This can be in your local area or you can look for something online. Some of the most popular side-hustles include survey taking, market research, dog walking, and content writing. If you have a larger vehicle, you can look into package delivery. Many companies offer opportunities for ‘gig’ workers to set their own hours and number of deliveries. Sites like Shiply can show you how to find loads to haul or parcels to deliver.
Sell unwanted items
Most people have too much stuff cluttering up their homes. Why not put it to work for you by selling it? You can sell them at a local market, hold a yard sale, or on an online site such as Craig’s List or eBay. Even if you’re selling items for small amounts, it’s all going to add up and also give you a chance to get rid of all that unwanted clutter that’s been collecting in your home.
Saving for your wedding can seem like an impossible task, but with some clever budgeting and a few sacrifices, you can start to build up enough to give yourselves the wedding you’ve always wanted.