Archives for Common Sense Advice
How to Save for a Wedding
May 24, 2007
Want to know the secret to saving up for a wedding? Well, the first one is that you shouldn’t buy anything that I feature on this site, especially 30 dollar wine boxes. The second secret is to start saving early. Just follow the simple steps I’ve outlined below and you should be able to swing a terrific party and honeymoon:
- Decide to get married.
- Set up a high yield savings account. You can use ING Direct, HSBC Direct, or any bank offering no minumums and better than inflation rates.
- Try to do this at least a year in advance.
- Automatically deposit a set amount from each of your paychecks into said savings account. You won’t even see the money, so you won’t miss it quite as much.
- The amount depends on your previously budgeted expenses: rent, car payment, liposuction.
- Cut out nonessentials, like coffee from Starbucks, brand-name razor blades, and that fifth pair of summer sandals.
- Pay all of your wedding expenses from the account so that you can easily see where you’re money is going.
- Plan your awesome wedding.
I am not the creator of this awesome saving-for-your-wedding plan. Instead, it was my terrific coworker Shawnice who introduced me to this concept.Thanks Shawnice!
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