Truffles Magazine

Wedding Budgets

In Life on March 19, 2012 at 11:25 am

 

  Photo Source

How much money do you plan to spend on your wedding? Did you know the average wedding in 2012 will cost between $26,000 – $27,000 (courtesy of Wedding Stats) that doesn’t include the honey moon. So you better start budgeting and I am going to help.

If you’ve just recently become engaged now’s the time to sit down and determine the budget for the wedding. Determine who is contributing what (you and your fiance) need to take the the time to sit down and look at your monthly income, expenses and savings. This maybe the time to open a joint checking/savings so you can each automatically deposit money into it to pay for the wedding expenses. Then you need to determine how long until the wedding day. Remember purchases will often require down payments to secure: a caterer, baker, florist, etc. The point is go ahead and figure out how much money you can save up for the wedding as quickly as possible. Obviously, not all weddings do cost this much (and some cost more depending on preferences and local) however, I urge you to not spend any more than you can afford to pay for in cash. Your wedding is not something that should cause you to go into debt or be put on a credit card. No one is going to enjoy starting married life off with any more debt. 

Let’s just say for statistics you have a $26,000 wedding and the average length of engagement in 15 months (as of 2010 courtesy of  The Wedding Report) so that would assume $26,000 / 15 months = $1,733.33 in dedicated wedding savings each month.

Here are some ways to cut monthly bills to save for your wedding:

  • Go ahead and pack lunches for work (this will save you money if your not already doing so)
  • Automatically set up a with-drawls from your checking account to savings every month for a guaranteed forced savings
  • Skip going to the movies when you can rent them instead
  • Don’t buy lots of wedding magazines instead go to the library read them if there’s something you love photocopy it
  • Go ahead browse places online that are free (The Knot, Brides ) print whatever you need from online
  • Don’t get suckered into buying a wedding binder, you can make one yourself (I will be posting how to make one very cheap in the next week)
  • Consider taking part time side work (cutting lawns, running errands, babysitting, cleaning houses, car detailing,pet sit, bar tend, waitress,etc)
  • If you have a skill set use it to earn you some extra cash (create logos, become an P/T assistant for other bloggers, tutor)
  • Have a place of your own consider a room mate (get references, background checks, & employment verification – this goes without saying but it could easily pull in several hundred dollars a month in cash)
  • Sell stuff you haven’t used on Craigslist & eBay its time to de-clutter you have 15 months till wedding gifts arrive so start selling & put that money towards your wedding

So what tips do you have to share on how to save for an upcoming wedding?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: