Kid’s Wedding Clothes: Dressing Your Little Ones for a Wedding
Millennial Money Hacks: The New Way to Save for Your Dream Wedding
Greetings, bride-to-be! I’ve come to help you save for the wedding of your dreams by sharing some of the most helpful money methods uncovered by millennials. Whether you opt for a lavish celebration or a more low-key one, weddings can be costly.
Hitched.co.uk predicts that the average cost of a wedding in the United Kingdom will rise to £18,401 in 2022. That’s a lot of money to drop on one event, especially if you’re also trying to save up for things like a house, paying off debt, or taking a trip across the world. But don’t panic; you may still have a stunning wedding without going into debt or compromising your priorities to please others. Using some ingenuity and forethought, you may arrange a wedding that is chic without breaking the bank.
Here are some of the most effective ways that young adults today may save money in order to afford the wedding of their dreams.
Start planning your wedding right away by opening a savings account
If you begin saving right away, you’ll give yourself more time to put away money and earn interest on your investments. You might start saving for your wedding by making regular deposits into a special savings account. By putting off making impulse purchases, you may watch your savings account balance rise steadily over time. Tools like Plum may help you save costs by monitoring your spending patterns, allowing you to create savings targets and automatically rounding up your purchases. We used Plum a lot during the last year, we can vouch for it.
How does it work? Plum basically automates budgeting, saving using AI and investing. It adjusts to income and spending trends to help customers prepare for financial emergencies. Plum serves over 1.7 million Europeans in saving, budgeting, and investing.
On top of that, Plum offers clever deposit rules like Rainy Days and Auto Depositor to automatically save money and an Interest Pocket to earn interest on deposits. The Plum Card also lets customers load a limited amount, minimize overspending, and save overseas transaction costs. Plum allows investors to diversify their portfolios using stocks, funds, crypto (in the EU), and SIPPs via automatic buy orders.
Watch this video to learn more about Plum:
Disclaimer: Capital at risk if you invest.
Get in on the ground floor and invest in IPOs before they hit the market
If you’re feeling really brave and need more funds for the wedding, initial public offerings (IPOs) are a potential investment opportunity. The first time a company sells shares of stock to the public is known as an initial public offering (IPO). Risk and reward are both possible outcomes for investors in initial public offerings (IPOs). You may get early access to prospective initial public offerings (IPOs) through services like PrimaryBid5 and Freetrade6. If you sell them along the road, you may see a profit.
Disclaimer: Capital at risk if you invest.
Create a realistic budget and follow it religiously
You need to know your budget like the back of your hand before you start booking services and looking for dresses. Budgeting for your wedding has never been easier than with the help of internet resources like the Wedding Budget Planner4 on Hitched.co.uk. Your income, outgoings, and projected savings all go into your budget.
It’s important to stick to your budget and monitor your spending after you’ve set one up. You may find it easier to keep track of your spending and avoid falling off the wagon if you use an app like Money Dashboard or Emma.
Watch this video to get some ideas on how to create a realistic budget:
Keep your priorities straight and always be on the lookout for ways to save costs
The details of your wedding do not need to be perfect or expensive. Prioritizing what is most important to you and your partner might help you both save money. If you prefer taking photos and making videos, you could wish to hire a great expert to record your special day; if you don’t like flowers, you can always make your own arrangements or choose silk arrangements. You may cut costs by having a smaller wedding on a weekday or outside of the traditional wedding season, inviting fewer people, or doing a brunch or cocktail reception instead of a sit-down dinner.
Watch this video to learn a few more ideas on how to save money on your wedding:
Utilize your talents and resources to complete (DIY) or negotiate for some of the wedding-related tasks on your own
The bride and groom can save money on their wedding by handling certain tasks themselves if they have the necessary talents and abilities, such as being creative, talented, or technologically smart. You can also start learning from scratch how to DIY wedding stuff on Bespoke Bride and other blogs.
If you have friends or family members who can help you with things like hair and makeup, officiating the ceremony, or catering the reception, consider seeing if you can work out a barter arrangement for their services. Doing things like these might help you save money and add a unique touch to your wedding.
For more about Wedding DIY’s – check out our videos:
To Conclude…
Finally, Ladies in Waiting, To help you save for your ideal wedding, I’ve included some of the best money tips millennials have to offer. As you go out on this exciting adventure, don’t forget that your savvy with money might prove to be one of your most valuable resources. You can plan a wedding that is both beautiful and affordable if you follow the money-saving techniques and approaches that millennials use and make thoughtful decisions. I toast the two of you and hope that your wedding day is as beautiful as your love is strong.
