The ultimate guide to saving up for a wedding

The last thing you want when starting your married life is a whole load of debt from your big day, but with some planning and serious saving, that doesn’t have to be a reality. Although we are often told that this is the most important day of our lives, that doesn’t mean we have to spend three years salary on making it perfect. You can have an amazing day without maxing out several credit cards, and you will enjoy it all the more, knowing that it is all paid for. So how can you save enough money for your dream wedding? Here is our ultimate guide to saving up for a wedding!

Decide on a budget

This is the first and arguably most important step before saving up for a wedding. Work out how much you realistically want to spend on your big day, and divide it by how many months you have to save up to work out how much you will need to put away per month. It’s important to remember that weddings can be really expensive, so it is worth doing some research before you try and come up with a figure. It is also worth considering the fact that your suppliers might need pretty hefty chunks of money as you are saving for deposits etc, often all at the same time – especially when you are just one month away! If you are booking several things early on, you might not have the money together to book them all at once, so it is worth thinking about this. Make it an aim to beat your target some months just a little, so you have a bit more money to play with.

Savings pot

The little bits add up, and if you grab a sealed saving pot (either a ceramic pot you have to smash or a tin that you have to hack at with a tin opener), you can make it a challenge to fill it. Make sure you don’t spend too much on the vessel, anything more than a tenner is counter intuitive! However, having something visual can really help when saving up for a wedding, and knowing you can’t count the money until it is full will make you want to pop all your change in it! You could decide to put any spare coins in the slot, or maybe make a pact that any £2 coin, for example, has to go in the pot. It becomes something of an obsession, but one that you will be grateful for when you count it all up! Some specific weddings savings pot will tell you how much you can save if you put in a specific denomination of coin, too. So you’ll make it your mission to fill it to the brim!

Rethink your monthly expenses

We all have bills that come out every month, and sometimes we don’t even realise what is going where. Now is a perfect time to look at all your direct debits, subscriptions and memberships and take stock of what you really need to pay, and what you can cancel. Do you really use all of those beauty products that are sent in your subscription box? When was the last time you had a spare five minutes to sit and read the magazine you pay for monthly? Are you paying for a gym that you never attend? (We’ve all been there!) You don’t have to cancel these things forever, just until the wedding. Once everything is paid off for the wedding, you will be able to decide whether you really missed the thing you stopped paying for and start it up again, or whether you hardly noticed, in which case you will have a few extra quid to play with a month.

Set up a direct debit

We already know that direct debits sneak out of your account monthly without making a fuss, so why not set one up to go directly into your savings account? It doesn’t have to be a huge sum of money – don’t bankrupt yourself! – but perhaps just £10 or £20 that you will hardly notice. After a year of doing this, you will really see the difference as your savings account grows and grows. If you don’t have a wedding savings account yet, then you definitely need to set one up! This will be invaluable when saving up for a wedding.

 

Cut out a daily habit

We all have them, the little money-draining habits that cost a few pound here and there, but really add up over a month. Perhaps you are someone who always buys lunch at work rather than bringing in your own (hugely cheaper) lunch from home. Maybe it’s the coffee you buy from the expensive chain whenever you walk past. By cutting out something like this, you can save yourself some serious dosh. For example, if you spent £5 on a coffee and cake every weekday, that’s £25 a week, £100 a month and £1200 a year!

Make sure you put this money to the side every time you don’t spend it and don’t just replace one habit with another! Also, you’ve wanted to stop smoking for a while, this will be great motivation, making you healthier, and seeing your wedding day fund grow! It’s a win-win.

Tighten your belts

If there are luxury items you buy when shopping, perhaps you could consider switching to the cheaper alternatives. Often the store’s own brand items are just as good (although there are some exceptions where only the premium will do!) and can be a whole lot cheaper. Buy only what you need and plan meals ahead. If you are really organised, you could start meal prepping, or batch cooking meals to really save some serious money towards the wedding. You don’t have to change everything, but a few small changes can add up, and you won’t even notice them!

Make more money

It might sound a bit silly – we’d all make more money if we could, right? But there are ways you can add bits to your income while you are saving for a wedding. For example, are there any items in your home that you no longer need or want that you could sell. It is really easy to sell on a site like eBay, and even Facebook has a marketplace for people to sell their belongings, although if you are a bit more traditional, there is nothing wrong with a good old car boot sale. Some ways of selling with cost fees, so make sure the price covers this, and consider postage and packaging costs too.

If you have a skill, be it writing, cleaning or baking cakes, you could do a bit of extra freelance work alongside your day job. You do have to declare this to the tax man, but otherwise, it is pretty simple to set up, and a few little jobs could really make the difference when saving up for a wedding.

You don’t have to sacrifice your day due to budgets. As long as you plan ahead with your savings and look at our top tips for cutting costs without having to compromise on your special day, you can have an amazing wedding, without the debt! Follow these top tips for saving up for a wedding and you’ll be enjoying your big day in no time.

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