Even the most modest wedding will cost some money, and many couples are left wondering “How are we going to pay for our wedding?” Raising money for your wedding can seem like a daunting task. With high wedding prices and rough economic times, it will be hard for many couples to afford their ideal wedding.
The Free Wedding believes in having your dream wedding without breaking the bank. We have come up with some solutions to help you get money for your wedding. Some of these ideas will require work and a willingness to maybe go outside of your comfort zone. Decide what you want. Plan your budget. Work your plan. Have your dream wedding.
Saving Up: 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. Many banks also offer online tools to help you save toward a goal.
Saving up is the most common way to raise money for your wedding, but it requires discipline and time. If you have a year or so to save, you can put away a portion of your income every month into your wedding account. This will allow you to slowly build up a nice chunk of change to use for your wedding expenses. If time is not a luxury you have, then you’ll need to look at other options for your wedding fund.
The last piece of advice is to make your wedding savings automatic. Set up automatic withdrawals from your primary account to be deposited into your wedding account. This way you won’t even have to think about saving, it will be automatic.
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. You could also consider working nights or weekends at a retail store or restaurant. Many companies hire seasonal part-time help, especially during the holidays. This could be a great way to raise extra funds for your wedding.
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. A sponsored wedding will involve you asking these people for help. This may be uncomfortable or even slightly embarrassing, but many friends and family members are more than happy to chip in. Just remember that not everyone will be in a position to give you money. It is important to present the opportunity in a way that makes it OK for someone to say “no.” These people aren’t required to help you pay for your wedding and you’ll need to be sensitive about how you approach the subject. At your ceremony, be sure to publicly thank these individuals who were willing to help.
Vendors may give you discount or offer their services for free if it can benefit them in some way, such as helping them generate more business through advertising. Your stationer may give you a discount if they can print their logo and website on the back of your wedding invitations. When shopping for wedding vendors, inquire about these types of discounts. Don’t be afraid to tell them what you’re looking for. You might get rejected several times before you find a vendor willing to work with you.
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. You definitely won’t want go further into debt to get money for your wedding. By getting a loan you will end up paying way more for your wedding and you’ll still be paying for it long after it’s over. If possible, borrow money from a family member instead of getting a wedding loan. At least then you (hopefully) won’t have to pay interest and fees.