Your wedding day is usually one of the biggest moments of a person’s life. Naturally, it comes at a big cost. It can be overwhelming trying to fund your dream wedding, but there are plenty of strategies you can employ to try and make this process easier. Below, we explore how you can save money for your wedding day.
Cut down on unnecessary costs
Weddings are extravagant, expensive affairs. But there are ways you can cut down on the cost of your wedding, without compromising on the quality or fun of the event. For a start, you could consider getting a pre-loved wedding dress: this will still retain the quality of a brand-new garment, even if it has been used before. On top of this, you can try making some of the food for the day yourself, bring your own booze, and create your own invites from home to make the process less costly.
You can also set up a budget in the months before your wedding to save up a little more money. Begin by looking at your incoming money as a couple. Next, you should consider your essential outgoings such as rent, groceries and bills. Any leftover money will be disposable income that you usually spend on entertainment or commit to savings. However, by setting this money aside for your wedding, you can make it easier to afford.
Set up a savings bond
Planning for a wedding takes a long time and this can represent an excellent chance for you to grow your savings. What’s more, you’ll have plenty of time to make further deposits to increase your savings. You can achieve this by opening a savings bond with a fixed interest rate to help you grow your money over time.
Avoid peak wedding days
Some days are pricier than others when it comes to wedding days. This usually applies to the venue you hire. Venues will be in higher demand for a sunny day in May compared to a weekend in late autumn for instance. If the weather doesn’t matter that much to you, there’s a chance that you could save a significant amount of money by planning your wedding for autumn or winter. This can give you extra money to spend on your wedding, or you can unlock premium venues by targeting off-peak days.
Saving money for your wedding day can help the whole event run smoother, allowing you to fully enjoy your big day. And by following the advice above, you should be all set to get your savings in place for one of the most memorable days of your life.
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