Your wedding day is probably something you’ve thought about extensively. How you’ll look, where it’ll be, who’ll attend and all the other factors. But turning these visions into reality requires money – and you’ll need a clear strategy if you don’t already have it.
Here’s how to save for your perfect day without sacrificing your financial stability and peace of mind.
Set a wedding budget
First, you’ll need to work out how much you need. Sit down with your partner and discuss your preferences and priorities. Is it a lavish venue, a designer dress or a fabulous honeymoon?
Once you’ve identified what matters most, start to pull together a rough figure you can aim for. Next, look at the relevant costs in your area. Be realistic from the start – factor in everything from the venue to the small details like favours and invitations.
Create a savings plan
With a budget set, now it’s time to plan how you’ll reach it. Work back from your goal to find out how much you need to save each month until your wedding date.
Opening a dedicated savings account should help to keep your funds separate from everyday spending. A standing order may also be useful to automate your contributions.
If your big day is a few years away, you may want to consider a high-interest savings account to make your money work harder. Alternatively, if you’re willing to take on more risk, forex trading could be a viable option to help build your pot.
Find ways to save on normal expenses
Cutting back on everyday spending can help you save faster. Take a close look at your current expenses. Could you swap takeaways for home-cooked meals or skip that daily coffee run?
Perhaps you could pause subscription services or shop smarter for groceries. Every little saving adds up and brings you closer to your dream wedding. The sacrifice will surely be worth it in the long run.
Explore ways to cut the cost of your dream wedding
Saving on the event itself doesn’t mean you have to compromise on your dream. Instead, get creative.
Opt for an off-peak wedding date or consider a weekday celebration to save on venue costs. DIY elements like invitations, table decorations or even favours can add a personal touch while cutting expenses.
Don’t be afraid to negotiate with suppliers or look for emerging talents like up-and-coming photographers or caterers who offer great value.
Ask for help from family
You may find that your families are happy to contribute, whether financially or by taking on specific roles. Be open and honest about your budget and where help would make the most difference.
Some family members might prefer to pay for something specific, like the cake or the flowers, as a wedding gift. Remember, even small contributions can ease the pressure.
