4 tips for saving for your dream wedding
They say that planning your wedding is one of the most stressful periods of your life and if you’re someone with upcoming nuptials you’re probably the first to agree! One of the biggest stress-inducing factors of any wedding isn’t the seating plan or warring siblings, it’s the cost. The average UK wedding is around £16,000 and if you’re someone who is on a limited budget then that kind of figure just seems completely unrealistic.
The truth is, you don’t have to spend a ridiculous amount of money to get the wedding you’ve always dreamed of, there are plenty of ways you can reduce costs and still enjoy every moment of the day. You will, of course, need some funds tucked away to get you started so here we’ll take a look at 4 simple tips for saving for your dream wedding.
Take a look at an ISA
Due to the turbulent year we’ve had, many weddings have been postponed and plans have been pushed back over and over again. While this is frustrating for couples who are eager to tie the knot, it could be the financial breathing room you’ve been looking for. Saving for your wedding means making your money go further, and what better way to take control of your savings than with a stocks & shares ISA. Not only can you invest your money as you see fit, but you won’t pay any tax or capital gains tax on any of your savings as your money grows. And when you’re ready, you can withdraw your money at any time with no fees or charges affecting your savings.
With so many features and aspects of your wedding to consider, it’s easy to become overwhelmed and bogged down with all the minor details. Forget napkin rings and bespoke candle decorations, for now, prioritise the most important features of your wedding and work out how much of your budget they’ll need. Most priorities consist of your dress, the venue and the catering.
Everything else can go into a list of things you’d love, and as your budget begins to inevitably shrink and change, consider revisiting your wants and weigh up cheaper options. This will keep you from overspending and plunging yourself into debt.
Be creative with the time of day
Most weddings take place in the morning. However, that doesn’t mean yours has to! By having a wedding earlier in the day, you’ll become responsible for feeding and entertaining your guests for an entire day, this can get extremely expensive (especially when alcohol is involved). By having a late afternoon ceremony, you and your guests can enjoy some evening entertainment and one meal, dramatically reducing your overheads!
And finally, cut back on your guests
Couples often feel a great deal of pressure to invite huge numbers of people to their weddings. Whether it’s guests who previously invited them to their weddings, old colleagues, university friends or old family friends you haven’t seen in decades. Don’t feel obligated to invite anyone and everyone, by keeping your guest list short and simple, you’ll enjoy an intimate day and save yourself a small fortune!