Paying for your wedding is hard going if you don't have parents that are flush with cash, or you're trying to save for a house at the same time as plan your big day. So if you're not lucky enough to win lotto but still want to celebrate your wedding in style, then keep reading for some advice and ideas for how to find money to pay for your wedding day
6 ways pay for your wedding day
Your wedding day is a day to remember - let's make sure it's for the right reasons, and not the large credit card bill that turns up every month. Before you resort to shoulder tapping loan sharks, let's brainstorm some creative ways to save and find money before your celebration.
Bear in mind that whatever way you chose, it is important that you discuss each decision and step with your future spouse. It's going to be heaps easier if you're both on board (and hey, this is great practice for married life).
First up - set a wedding budget
How much money do you actually need to find? I bang on and on about this, so if you're a long time reader, feel free to skip to the next paragraph.
Plenty of people take a stab in the dark, or worse, play it by ear when it comes to their wedding budget. That's a great way to get a nasty shock or an awkward situation. But you need to know how much your wedding might cost, to know how much you will have to pay for. Sit down and nut out how much you need, how much you have, and what your shortfall is. More details on how to set a wedding budget are available here or a great wedding budget template is available here too.
The $1,000 project
A mash-up of the suggestions below, Canna Campbell's The $1,000 Project is a great starting point for raising some cash. I've mentioned her Minimalism Challenge before, and the $1,000 goes hand in hand with this. Basically it's all about hustling to raise $1,000 as fast as possible (with funds coming from over and above your usual salary and savings from your typical spending). Why don't you do something similar and use the money towards your wedding celebrations?
Time is your wedding budget friend
So let’s talk time. Time is one of the greatest assets you can have when planning an event, as you don't have to hurry decisions, pay extensive rush-fees and perhaps do a little DIY to save some coin.
If time is on your side one of the easiest ways to save, is for you and your future spouse to set up automatic payments which are deducted from your income/wages and have them deposited into a special bank account set up for the wedding.
This could also be done if you don’t have much time up your sleeve - however one of the following ways might work a little better.
Reduce your own “little” spending right now
If you're busy (and who isn't!), it is very easy to get into the habit of popping into your local cafe for a latte and grabbing a sandwich to have for lunch later. Say you have a latte and a sandwich each day, 5 days a week. Latte (let’s make it a good one) $5.50 each and sandwich $6.50 each. That’s $12 a day - $60 a week.
To have the wedding celebration that you truly want, $60 a week could be saved by drinking the coffee provided in the staff room and bringing a sandwich or leftovers from home ( this could be nearly $6,000 over the course of a year, if your future spouse reduces too!).
Sacrifice “big” now, for a bigger wedding party later
This one might be a little out of your comfort zone but it’s about making a sacrifice now so you can reap the rewards later. If you own your own home consider renting out the spare room for 6 months to a year.
If you are renting, how would you feel about moving back with your parents for 6 months to a year? Naturally your parents need to be involved in this discussion but it could be worth it in the long run.
Hold a garage sale to make some money for the wedding
Whether you are moving back to your parents, making room to create a space to rent or not, we all have “stuff” around the house that we hold on to for ‘when it comes in handy’ or a rainy day. How badly do you really need it? Holding a garage sale, or selling excess stuff on Trade Me is not only a great way to make money for your wedding but it’s a great way to tidy up and make room for any gifts you may be fortunate enough to receive!
Borrow from your parents
If moving in with your parents doesn’t appeal, then perhaps you and your future spouse could discuss borrowing the money needed for the wedding from your parents instead. Borrowing money from anyone, especially family, can be tricky, so I strongly suggest that you write up an agreement that suitable to all parties, including how it’s going to be repaid, when by and if it’s interest free or not.
Get a part time job to pay for the wedding
You could also consider getting a second job working weekends or part time. Now this isn’t a career move, this is about saving for your wedding, don’t be too proud on what job you might consider applying for. I worked part time as a retail assistant & loader driver - yes really - at a garden center to help fund my wedding.
It may mean that you and your future spouse might not see each other as often as you like but you’ll have the celebration you both want. Should you have children to consider perhaps ask friends and family to help look after them when you are working. Offer to return the favour after the wedding and honeymoon are over.
And there you have it, some creative ideas to save or find money before the wedding day. There are also a great many ways you could save on the actual wedding celebration and honeymoon but this is article is about giving you some ideas before the event. I know you’ll find something useful here and have a fabulously gorgeous celebration.
Further Reading & Resources
Don't forget, part of the challenge of having a wedding budget is tracking how much you've spent. The Wedding Planning Budget Spreadsheet Template is worth investing in - to save overspending and to help guide sensible decision making.
Thanks to Yvonne Morrison (The Business Boutique) for writing an earlier edition of this blog post & sharing these ideas.
Are you going to use any (or all!) of these ways to fund your wedding? Let us know how you're paying for your big day below