HOW TO SAVE FOR YOUR WEDDING
Your wedding is that brilliant occasion when your friends and family can come together to celebrate the love between you and your partner. As a significant landmark in your life together. Naturally want the wedding day that you’ve always pictured but weddings really can break the bank these days.
In the UK, the average wedding in 2021 cost £17,300, which is 90% up on the average cost from 2020. But not to worry – there are plenty of things that you can do to pull together the money that you need for your big day. We’ve made a list of the best ways to save for your wedding!
Start in advance
The earlier that you start saving, the more that you’ll have available for the day in question so there’s no time like the present! With so many payments to make, it can be overwhelming if you leave them to the last minute. Starting to save soon after the engagement means more months to save for your wedding, building a bigger pot.
Planning ahead and budgeting each month could help you to improve your credit score and means that you’re not likely to be left short-handed if you need to make multiple payments in a month.
Set expectations
There are so many components that go into the perfect wedding day and, as much as you want to splash out on every detail, you’re going to need to pick your battles. Paying for your first choice on everything sometimes just isn’t financially viable so setting some realistic expectations will help to prevent any disappointment further down the line.
Planning to save beyond your means will just add stress to every month leading to your big day. It’s important to not get too hung up on the small details and always keep in mind that the focus of your wedding is on celebrating the love that you share with your partner.
Save smarter
While the cost of each wedding varies, to keep track of your spending and how much you’ll need to have available, most couples will need to save. Separating your savings from your monthly income into a designated account for your wedding will prevent you from dipping into your savings for other needs and emergencies.
Choosing the right bank or savings account could also help you to bolster your savings month to month. Many banks offer small interest deals or cashback promotions on your energy bills.
Reduce costs
You could make your savings goal feel more achievable by looking at the ways in which you can bring down the costs of a wedding. Cutting down on price doesn’t necessarily mean that you lose out on quality. Consider having your ceremony on a weekday, opt for a buffet instead of a sit-down meal, or do some DIY decorations and table favours. Ask friends to help with a cake or letting you borrow a nice car in lieu of a present.
So, start early, be realistic with your goals, save smart and look to reduce the cost of things that won’t reduce the happiness of your day. Happy planning!
See more tips on how to save money on your wedding here
Images from Unsplash
