A wedding is quite possibly the most costly event a couple will ever plan. Whether they are ponying up the cash themselves or receiving help from parents or other family members, everyone appreciates saving a few bucks.
Some things are common sense, like the fact that catering for a 250-person wedding will cost considerably more than for a 75-person soiree. Many times, though, brides and grooms overlook the smaller opportunities to save leading up to the wedding, forgetting that shaving off a few dollars here and there can dramatically affect the end result.
Check out the following tips from Bank of America and Wedding Channel on banking extra cash in the year leading up to the wedding:
- Make coffee at home instead of stopping at the drive-thru. That gourmet coffee habit can cost upwards of $15 per week; money which could easily add $500 or more to a wedding savings account over the course of a year.
- Start packing your lunch. Daily lunches with co-workers can be fun and a good chance to blow off steam, but they also hurt the bride and groom’s bank account. By stocking up on healthy and affordable lunch options from the local grocery store, couples can save about $1,000 over the course of a year, and put the cash toward something meaningful on their wedding day. Bonus: a healthier diet that may help shave off a few pounds pre-wedding.
- Cancel your cable. If the bride and groom are maintaining separate residences, they can easily save $50 or more per month by switching from premium to basic cable, or by cancelling cable altogether. With Hulu, Netflix and free network television apps, chances are the couple can still catch all their favorite shows.
- Start cooking. Not only is cooking together a great bonding experience for the bride and groom, it can save big bucks over the course of a year. Consider how easy it is to spend $50 or more on Friday night dinner and drinks at a local restaurant. By cutting the number of costly date nights in half, a couple can save over $100 per month and discover a fun new way to spend time together in the process.
- Open a ‘wedding only’ bank account. Set up an automatic transfer from both the bride and groom’s paychecks to automatically deposit $25 each every month.
Total Savings: $3,900 in one year.
Although the above number represents savings over a one-year time period, it’s never too late to begin socking away a few extra dollars for special wedding touches. Set a savings goal and create a plan to get there. It will be worth it on the big day!
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