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Many of us start dreaming of our perfect wedding from a very young age; the flowers, the food, and not forgetting that dress. There is a downside though - it comes at a price - and often a hefty one at that.
However, when you’ve met your perfect match what does money matter? It’s the celebration of a lifetime and if you’re going to do it, you’re going to do it right… right?
You might hope so, but it’s not unusual to be saving up for the wedding of your dreams for years, and sometimes everything you want just isn’t attainable.
But what if there were smart ways to get just what you want, exactly the way you want it? We’re not suggesting resorting to criminal acts, but being smart with your savings could afford you all that your heart desires (and maybe even more!)
Saving for a wedding should be one of those things that happens, but doesn’t impact your day-to-day life too much. You shouldn’t need to stress about money. Just be realistic and efficient, and you can’t go far wrong.
Taking the first steps towards budgeting for a wedding can seem daunting, especially if you don’t have a whole lot of spare cash floating around, but there are things you can do to make the process easier. Below are a few useful tips to help you budget your money and get the results you want:
Creating a checklist of all the expenses you’re likely to encounter when planning your wedding should be your top priority. Try and be as thorough as possible; this will give you a clearer picture of exactly how much you’re going to need to save. Also allow for a contingency fund for those little unexpected costs.
It’s important to ensure you’re not overstretching yourself when saving funds. If you do, it’s likely you won’t be able to keep it up for long. Take a closer look at your monthly outgoings and make cutbacks on things you don’t really think would be missed - such as subscriptions or services. Following the 50/30/20 budget rule should help you structure your finances better while attempting to save.
This might sound a little daft but the ultimate goal is to spend less than you make each month, but how you do that could be the difference in how successfully you save money. Rather than saving what you have left at the end of each month, save a set amount first and then spend the rest. This will remove the chances of overspending and you know that you’ll remain on target with your wedding savings goals. Better yet, if you save first, spend last, and you’ve still got some left at the end… bonus!
If you have a clear picture of your dream wedding; whether that’s the type of venue, or the food you’d like your guests to eat, make sure to stick to a limit. It’s easy to get carried away and overspending in one area could leave you short elsewhere.
Budgeting for a wedding is all well and good, but anything that can make the job easier is always going to be a welcome relief. Here are a few handy wedding savings tips that should help ease the pressure:
Keeping things clear and simple will always make life easier and it’s no different when it comes to your wedding savings. You may already have a savings account but differentiating between your rainy day fund and your wedding fund could become difficult, and your budgeting efforts could get a little lost if you’re not sure where you’re at. Keeping your wedding fund entirely separate will eliminate any confusion.
If you need money for a wedding fast, you may want to consider doing a bit of fundraising. Clearing out and selling any unwanted items could kick start your savings.
Tradition used to dictate that the parents of the bride would pay for the wedding, but times have changed. Of course it’s great if your parents can help you out, but they shouldn’t be relied upon to fund your big day. That doesn’t mean you can’t ask, though. If you already live with your partner and don’t need physical gifts, a suggestion to friends and family that they make a nominal contribution to the wedding instead could go a long way to funding your big day.
There’s a lot of truth in the old adage that ‘pennies make pounds’, so rather than throwing them in the bottom of your bag or letting them live in the washing machine filter, either buy or make yourself a penny jar. You’ll be surprised how much loose change can add up when you make a conscious effort to save it.
Budgeting for a wedding can be serious stuff, but it doesn’t have to be as big a deal as you might think. The average wedding typically costs thousands of pounds, but using tips such as the ones mentioned above could give you the wedding you’ve always dreamed of, and even leave you with some left over for a honeymoon splurge, too!
