Tying the Knot? Consider these Wedding Saving Tips!

The cost of a wedding keeps spiraling higher and higher. According to a survey by popular wedding website TheKnot.comAs a courtesy, you will be leaving Blog.Bank5Connect.com and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Bank5Connect.com. Come back soon!, the average cost of a wedding in the United States was $33,391 in 2017.wedding-saving-tips

If you’re serious about keeping a financial lid on your wedding celebration, there are dozens of ideas that can help make it more affordable. Taking some time to plan ahead can have a significant impact on the cost of your special day.

Here are some wedding saving tips to consider:

Start saving early. Create a special savings account for your wedding and routinely place money in it. Even if it’s only $50 or $100 per paycheck, your balance will add up over time. Relying on credit cards to carry you through could leave you with a hefty bill for years to come.

Get a good return on those wedding dollars. If you’re planning on having a relatively long engagement, you could benefit from placing your wedding funds in an add-on CD, rather than a savings account. For starters, interest rates on CDs (also known as “certificates of deposit”) are usually higher than that of traditional savings accounts, and an add-on CD allows you to add funds to your account at any time, so you can continue stashing money away on a regular basis. This is in contrast to traditional CDs, which don’t usually allow you to add funds after your initial opening deposit. But remember, if you do decide to go the “CD route”, be sure to choose your term-length wisely! You’ll typically be slapped with an early-withdrawal penalty for taking your money out of a CD before it matures, so before you commit, make sure you can afford to leave the funds in your CD until the maturity date.

Skip the wedding planner. It would be nice to have someone else handle all the details surrounding your big day, but is it a necessity? Probably not. Rather than shell out the big bucks for a professional, recruit a friend or two to help you pull the big day together.

Give yourself enough time to plan. The more time you have, the more research you can do to make the event more manageable money-wise. You’ll have a better chance of finding money-saving deals, and you’ll be able to avoid rush-delivery fees.

Tie the knot during the off-season. June and October have become the most popular months to get hitched, mainly because it’s usually neither too hot nor too cold during those months in most areas of the United States. Wedding dates around Christmas, New Year’s, and Valentine’s Day are also popular choices. But keep in mind the concept of “supply and demand”. Holding your wedding during a coveted time period is going to be more expensive than other dates. But by picking a date during the off-peak season, you can save yourself some big money – not just on a venue, but on everything from flowers to photographers and food!

Choose flowers that are in-season. You may have been dreaming about having a specific flower in your wedding bouquet since you were a little girl, but if that floral favorite isn’t blooming during the season you’re marrying, you’ll likely end up paying a premium for it. Visit a florist to get a sense of what flowers will be in-season during the time of your wedding, and pick from that selection to ensure you don’t break the budget. Chances are you’ll have plenty of beautiful options to choose from.

Stay away from Saturday. It probably doesn’t come as a surprise that Saturday is the most popular day of the week to hold a wedding. But just because it’s the most popular choice, doesn’t mean it needs to be your choice. If you’re serious about being smart with your wedding budget, you should at least consider an alternative day of the week. You could possibly save hundreds, if not thousands, of dollars by selecting a day other than Saturday. Speak with your preferred venue and other vendors before committing to a date, to get a sense of just how much money you could save.

Pick a venue that allows you to choose your own vendors. This wedding saving tip alone can make a huge difference in your budget. If you go with a wedding venue that is tied to (and mandates) specific vendors, it’s usually a given that those vendors are going to cost a lot more than if you shopped around yourself. Between the DJ, caterer, florist, and photographer, you could save a pretty penny in the end by hand-selecting each of your vendors.

Avoid the sit-down dinner. Needless to say, per-person plate costs can really whack you in the wallet, depending on what you’re serving. Why not opt for a buffet instead? Another option is to have a cocktail reception and serve only hors d’oeuvres.

Do you really need a wedding cake? Considering the price tag tied to a formal tiered or fondant cake, you could come up with a less expensive alternative that’s just as enjoyable. Consider trying a cupcake spread instead. Or, if your weakness is ice cream, set up a “sundae shop” with all the fixings. And, if your heart’s set on a traditional treat, another option is to order a “dummy cake”As a courtesy, you will be leaving Blog.Bank5Connect.com and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Bank5Connect.com. Come back soon! with a small layer you can cut into, and then have your venue serve a less expensive sheet cakes to guests. They’ll never know the difference!

Tap into your crafty and creative side for table decorations. There’s no rule that you have to have flowers at each table, let alone flowers that are professionally arranged. Go online and see what ideas are floating about. If you’re having a fall wedding, a small pumpkin, a few gourds and some colorful autumn leaves can add a special seasonal touch. Photo albums can also make unique, conversational centerpieces.

Sometimes, it pays to think “outside of the box”. With careful planning and an eye on your budget you can have a memorable wedding celebration that you’ll cherish for the rest of your life, but won’t break the bank!

 

 

How to Make Saving Fun

Spending money can be a lot of fun. Shopping sprees, luxury vacations, delicious restaurant dinners – what’s not to like? Saving money, on the other hand, can sometimes feel like a chore. You typically do it because you have to, not because you want to.how-to-make-saving-fun

But, that doesn’t have to be the case. It’s possible to fill up your piggy bank while having fun at the same time. Let’s take a look at some ideas to help you look forward to saving money, instead of dreading it:

  • Instead of spending money on family outings to the movies or the mall, look for free activities close to home. They’re out there, you just need to track them down. Check out Facebook or your local newspaper to see what fun things are happening in your neighborhood. Or try a Google search on “free things to do in YOUR TOWN HERE”.
  • If you’re trying to save, but still need a night out on the town, take advantage of happy hours. You can get great discounts on food and drink if you time it right.
  • If you’re trying to inspire your child to get into the savings habit, you can offer an extra incentive by rewarding them when they reach certain saving milestones. For example, they could work toward saving enough money to get their favorite dessert or dinner, permission to stay up late one night, or the opportunity to invite a friend over.
  • Challenge yourself and your family members to see who can save the most money in a week. Whether you save $5, $10, $20, or more, throw down the gauntlet and see who can win!
  • Go second-hand shopping. Whether it’s at a garage sale or a second-hand store, you’ll be surprised at all the bargains you can find at a fraction of their initial cost. Even if you don’t have money to buy, browsing can be just as much fun.
  • Look for volunteer opportunities at venues such as festivals and concerts. You could be a ticket-taker or work at a food stand. And chances are you’ll be able to attend the event for free!