Stag and Does aren’t for everyone. Here are some alternatives to help you save money towards your wedding!
Set Up a Wedding Bank Account
The first thing to do when saving money for your wedding is to set up a separate bank account for wedding related funds. This might seem like a lot of work, but it’s totally worth it. Find a bank that offers a free no minimum savings account. Setting up the account should be pretty easy, especially if you already have a bank that you use for your regular checking a savings. Why go to all this trouble? For starters, it’s a lot easier to save money if you have a dedicated place to put it. You’ll be less likely to spend the money because it is in the bank, and you can easily track your deposits and account balance to determine what your overall wedding budget will be.
Moonlighting is basically finding an additional source of income aside from your regular job. If you have some extra time and some marketable skills, this may be a great way to raise money for your wedding. The only downside is that you will be giving up more of your free time. Everything from dog walking, to housecleaning, to babysitting is fair game.
What is a Sponsored Wedding? A sponsored wedding is when you have different sponsors for the different parts of your wedding. These sponsors can be friends, family, or even wedding vendors that you plan to work with. With friends and family, you’ll basically be asking them to contribute to your wedding costs in lieu of a gift. For example: Your sister may be willing to buy the cake, your Aunt Sue might want to purchase your centerpieces, and Grandpa Ralph will pay for the band. Having friends and family sponsor your wedding is a great way to offset the amount you’ll pay out of pocket.
Many people get a tax return after they file their income taxes. If this applies to you, take your tax return and put it in your wedding fund. Since this money is not part of your regular income, you likely won’t even miss it and you’ll be less likely to spend it.
Sell Your Stuff
Most people have lots of stuff, and that stuff might just be taking up space in your house. Turn that stuff into cash by holding a yard sale. Old furniture, clothes, toys, etc. are all items that people will buy at yard sales. You can also consider selling items on ebay or craigslist.
Barter/Trade for Services
If you have a skill that would be useful to others, consider bartering or trading your skill for something you need. For example: if you’re a graphic designer, maybe you could design some marketing materials for your wedding vendor in exchange for their services. There are lots of creative solutions that could work for both parties.
Wedding loans are becoming more and more popular because more young couples are having to foot the bill for their own weddings. Don’t take out a loan if you can avoid it. Nobody wants to start a marriage in debt.