Saving for Your Wedding?

Here Are Some Important Things to Keep in Mind

by Esther Agyapong

Did you get engaged? Congrats, we’re so happy for you. You have a wedding to plan, and you’ll need lots of resources. Check through our blog to find resources and tips to help make your planning easier. Saving for your wedding is a great way to have a debt-free wedding. It gives you an edge with which to start the next stage of your life. Many couples and marriage counselors will tell you that a debt-free wedding is best. Saving for your wedding is a challenging task. It can even look impossible in a world with increasing prices and high inflation. However, you can make it happen with a few lifestyle tweaks and expert advice like the ones we’ll share here.

Ready to start saving for your wedding? Then here are some tips from couples who did the same and experts. You can also read how to plan a wedding without debt and what to do when you have a small budget after.

  • You Need A Plan

What’s a critical cliché that most people know but often fail to apply? If you fail to plan, you plan to fail. You cannot afford to do the same when saving for your wedding—a plan and a structure that works are necessities.

Some things to hash out with your partner include how much you want to spend and save. You can then break your savings into monthly goals depending on how long you commit. Please ensure that the numbers all add up when finalizing this stage.

  • Be Realistic

Don’t plan to save above your means, as that almost always leads to disappointment. Take a realistic look at your finances and choose an achievable savings goal. The reward from meeting your target will make this exercise so worth it.

You should also include contingencies like months when you might not be able to hit your target. An example is during a holiday like Christmas when you have to spend extra for family. Also, remember that life isn’t straightforward, and that’s okay; plan for it.

  • You’ll Have to Make Sacrifices

When saving for your wedding, you might have to put some luxuries aside. Check what things you can go without and cut them out over time. Remember that having the wedding of your dreams makes it worth it.

Most people think sacrificing for your wedding is about cutting out big things. While this is correct, you must also reduce the things that add up over time. Here’s a general list of the things some couples who saved had to go without for a while:

Subscriptions: Many people have lots of subscriptions. Check through your direct debits and eliminate the ones that are not needed.

Takeout: With the many delivery options at our fingertips, it’s hard to stick to homemade meals. But if making your meals is what you need to do to increase your savings, then it might be worth giving it a try.

Drinks: We’re not saying dates are out of the question. However, a night on your sofa with your love and wine from your local store works too.

Holidays: Instead of an all-inclusive trip to the Bahamas, staying at a cabin could go a long way and help you save some money for your honeymoon after your wedding.

But Still, Have Fun

Depriving yourself of spending on every little thing that could make you happy is no fun. Making sacrifices to meet the savings goal for your wedding is good. Just don’t take it too far and do it at the expense of your mental health.

Finding a balance when making sacrifices is essential for your mental health and relationship. Leave some luxuries for you and your partner to enjoy. That way, you don’t look back on your pre-wedding period and feel like it was torture.

  • Set A Realistic Time Frame

Make sure that your savings plan tallies with your wedding planning timeframe. For example, if your savings will go towards your venue, ensure that you’ll meet the goal when the time comes. You don’t want to decide to book a venue in six months and discover you’ll need twelve months to save enough.

  • Research

Knowing exactly how much you’ll need to save for your wedding will help your savings. So, make sure you and your partner do lots of research. You can check our blog for more articles on wedding planning. They’ll help you know what to expect and how to maximize your spending.

  • Keep Living

Remember that you’ll only be engaged once in your relationship. So, while saving for your wedding, ensure that you still live and have fun. Don’t let it affect your relationship or cause financial worries or unnecessary stress.

If you are both under too much pressure, extending your timeline can help. Don’t forget to share your plans with your family and friends. They could decide to pitch in to help you meet your goals faster and easier.

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