So you’ve got the partner. You’ve got the big dream to have the perfect day, celebrating your love in front of the whole world – or at the very least, in front of your closest friends and family. You’ve got ideas for what you want it to be like, and they fill you full of joy and excitement. But importantly, what you haven’t got is the budget.
It’s hardly surprising, and you’re definitely not alone. Getting hitched can be very expensive business, and The Independent recently reported that the average wedding sets couples back by £27,161 – the highest that it’s ever been. It doesn’t take a genius to work out the implications here. People are going into debt to tie the knot, and the financial strain can end up looming over them for many years into the future.
What’s important to understand here is that there is another way. You don’t have to run to the bank for a loan, and you don’t have to stick everything on a credit card. With some careful planning and some forward thinking, you can make the necessary changes to your finances so you start married life in the best possible financial situation.
Saving for a wedding might be daunting. But it’s possible. And you can do it quicker than you might think. Here are six tips for saving for a wedding, fast…
BE RUTHLESS WITH YOUR DAY TO DAY EXPENSES
Okay, so you’ve heard a hundred times before that your daily latte habit is bad your finances. Cutting it out is advice that we’ve all heard before, and it’s easy to think that a couple of quid for something that you enjoy isn’t a big deal. But look at it like this… If you and your partner both spend £3 in a coffee shop 5 days a week, 50 weeks of the year, then that’s a grand total of £1,500 a year. It’s money that could really help with your wedding, and it’s not a drop in the ocean.
Everyone’s habits are different, and maybe you’re more of a tea person anyway. But the real point here is that if you’re serious about saving for a wedding, there are sacrifices that you can make. That could be walking to work instead of paying for a bus ticket. It could be downgrading to the supermarket’s own brand when you’re picking up your groceries.
Sit down with your partner, and take an honest look at where you’re spending your money. For most couple’s, it’s realistic to save a few hundred quid a month without feeling like you’re depriving yourself.
GET YOURSELF A SIDE HUSTLE
Are you familiar with the concept of a side hustle? It’s quite simply a project that brings in some extra cash, outside of your usual 9-5, and it’s something that more and more people are turning to in order to give them some extra earning power. Many people manage to bring in a couple of hundred quid per month from their side hustles, and this kind of money can really help you when it comes to paying for your wedding.
Thanks to the internet, the possibilities are practically endless. You could sell your time as a freelancer, offering services such as writing or design. You could pick up items from car boot sales and charity shops, then flip them for a profit on marketplace sites such as eBay. You could utilise a strategy known as matched betting to cash in on free bets from online bookies. Yep, it sounds a little dodgy, but it’s actually completely legit, and 100% legal.
CONSIDER GETTING MARRIED DURING THE WEEK
Most people plan to get married on a Saturday, purely because that seems to be the traditional way of doing things. What this also means though is that there’s a bigger demand for wedding venues on a weekend, and so businesses know that they can charge a premium for hiring out their spaces. Before booking, check out the mid week prices. In many cases, there’ll be a significant saving to be made.
Worried about friends and family being able to make it? This doesn’t have to be an issue. If you give them plenty of notice, most people will still be able to get time off work. And either way, you need to keep in mind that you can’t possibly accommodate for every single person. Weigh up the pros and cons, and make a decision that’s best for you and your partner. Remember that you can also make savings by finding a bargain wedding dress.
KNOW THAT ‘DOING IT YOURSELF’ ISN’T ALWAYS THE CHEAPER OPTION
Have you ever found yourself sucked into Pinterest? Before you know it, you’ve got a million one ideas for your very own DIY wedding. You imagine making cute little table settings, all on your own. You get excited about creating your own moments and special little details, and it seems to be a nice little bonus that you could also save yourself a small fortune.
Before you get carried away though, take a step back. Before you know it, you can find that you’ve spent an absolute fortune on bits and bobs and craft supplies. And that’s before you’ve accounted for the amount of time and frustration that can be involved with undertaking such projects.
If you’re naturally creative, it can be an enjoyable process. But don’t jump to any assumptions about the financial side of things. Be realistic, and make sure that you do all the sums. Sometimes it can be just as economical to call in the experts.
REMEMBER THAT SAVING FOR A WEDDING IS A BIG TASK, BUT IT’S WORTH IT
Imagine waking up the day after your wedding. You’re excited to spend the rest of your life with your new hubby, and you thank your lucky stars that you had the foresight to make changes when it came to saving for a wedding. You’re debt free. Your bills have been paid. Now all you have to do is grab your suitcase and head off on that honeymoon.
It’s not a pipe dream, and debt definitely isn’t your only option. Follow the advice outlined right here, and you’ll be in the best possible position when it comes to saving for a wedding. You’ve got this!