If you’re preparing to get married, there’s probably a lot on your mind. You know that the event is likely to be costly. Months in advance, you might be thinking about wedding venue prices and how much money you’ll need to cover tuxes for the ushers and similar expenses.
If you’re not exactly wealthy, there are always strategies you can use to keep the costs down, though. In this article, we’ll discuss how to budget for the ideal wedding location that you feel sets the right tone for one of the biggest days of your life.
1. Set Aside Money from Each Paycheck
You might spend most of your paycheck on necessities, such as rent, utility bills, food, and other expenses. However, most people have at least a little bit left over that they use on more frivolous things. You might spend that money dining out, going to the movies, or on similar things.
You may need to curtail those sorts of activities for a while if you hope to afford your dream venue for the wedding. Take the money you would typically spend on frivolous purchases and put it in a high-yield savings account at your chosen bank instead.
The interest rate you can get with many savings accounts is higher than ever these days, with inflation slowing down the economy. The money you save from each paycheck will go further at the moment if you save it. This is one way to budget to get closer to the amount you’ll need to pay for your perfect wedding venue.
2. Save IRS Refunds and Similar Windfalls
During the course of the year, you might get some cash windfalls. Those might include refunds from the IRS once you’ve paid your taxes. Maybe you’ll get some money from relatives for your birthday or around the holidays. You might get some cash as a yearly bonus from your job.
Again, you might have the urge to spend that money on something fun but unnecessary. Instead, put these windfalls into the savings account that you have allocated as the place where you’re saving up for the wedding venue.
3. Look for a Job that Pays More
You might also look for a job that pays more if you don’t have enough left over after each paycheck to start saving for your wedding venue and other wedding-related expenses. Finding a new position is sometimes challenging, but it may be the best solution if you can’t think of another way to get ahead in your work life.
Try to make your resume as attractive as possible, then look for work on LinkedIn, Indeed, Monster, and similar websites. Consider your skill set and then search for positions that require those skills. Getting a job that pays more might be the most expedient way to start saving money for the wedding venue you desire.
Start Budgeting as Soon as You Can
You should waste no time in starting to budget for your wedding venue if you have one picked out. Save as much money from each of your paychecks as possible once you’ve paid for all of the monthly essentials. You might also look for a better-paying job if you see no hope of advancement in your current position.
Saving money from IRS refunds, birthday and holiday cash from relatives, or any other windfalls during the year can also get you pointed in the right direction. Take all the money from each of those sources and put them in a high-yield savings account with your bank of choice.
Selecting the right venue will doubtless help to create the tone you’d like for your wedding. Starting the process of saving money for that location as soon as you can is definitely to your benefit.
