Whether or not you have credit card debt, it will be worth the time and energy to pay cash for your wedding expenses. Once you have set a budget for your wedding, calculate how much money you’ll need to put toward the wedding each month by dividing that number by the number of months until your wedding. For a budget of $5,000 over six months of planning, you’ll be spending an average of approximately $830 a month. This is unrealistic for most who don’t have savings. If you do have the savings available, reduce the amount you’ll be taking out of your paycheck by half by using $2,500 of your savings and then putting $415 a month toward wedding costs. Or, if a parent offers to help, share with them your budget strategy to show them how much you’ll need.
Plan your wedding early and buy items or pay for services as the months progress. That way you’re not slammed with $3,000 during one pay period. I had to buy a number of items from two local craft supply stores. I signed up to get on their mailing lists and received coupons for 40-50 percent off an item in the mail almost every week. I would buy just one or two items a week, such as baskets or fabric. By going in each week, I could also keep my eye on in-store sales, and when the time was right, I could gobble up an incredible buy on ivory candles, glass vases, gold ribbon, and fall décor for my reception. Almost everything I bought I later reused in my home – for several years. It took incredible patience to buy just one or two items a week, though. After the wedding, I was able to return unused merchandise like leftover ribbon (so keep those receipts!).
Although it wasn’t around when I married, you can now use GiftCardGranny.com as a way to stack even more savings by buying discounted gift cards.
What tricks did you use to help save money while planning a wedding?
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