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The Thrifty Bride’s Guide to Wedding Planning

The Thrifty Bride’s Guide to Wedding Planning

The big question has been popped, the engagement period has begun, and it is time to begin planning for one of the most exciting, scary, emotionally invigorating days of your life. Even for those who don’t place much value in the traditional wedding and choose to go another route, the act of marriage is a heartfelt one of acceptance, admiration, and commitment to one individual in a world of billions. The wedding is about sharing the joy of finding that one person that makes you happy beyond measure. Some want to joyfully include as many people as possible while others invite only those closest to them. Whether you want a wedding that will rival Queen Elizabeth’s with the dress to match or something a little more low key, these tips will be extremely useful for creating an atmosphere all your own at a fraction of the price you would otherwise pay.

Rings

When revealing your engagement to the world, one of the first things people ask is if they can see the ring. There is a huge cultural fascination and emphasis on the ring and its reflection of the love your partner has for you. What is interesting is that the emphasis on how large the diamond is has gradually lessened and people are choosing more affordable, artistic, and personalized routes when buying engagement rings. Another exciting development is that men are opting to wear engagement rings more and more. With these things in mind, here are some tips to help find just the right ring for both parties.

Upgrade Programs

This is a great idea, perfect for the young couple who will be growing their lives together both in finances and in taste. How this works is that you buy rings that are within budget and that suit you at this point in your life, but with the upgrade program you can come back to the jewelry store at any point and if you want to upgrade to something larger or simply different you will receive credit equal to 100% of the original price toward the purchase of a new ring.

Consignment

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This is a great way to cut the cost of some beautiful engagement rings. Consignment stores have both bling and modesty and are the same exact diamonds, stones, and bands fouand in any jewelry store except with a smaller price tag. Preowned does not mean less valuable. Another plus is that many of them have online stores which gives you the opportunity to peruse what’s available before deciding if consignment is for you without ever having to leave home.

Alternative Stones

The fascination with the diamond has had its day. As beautiful as diamonds are, they lack the personality that a lot of couples are looking for and the price tag doesn’t help their case. Many couples are considering other precious or semi-precious stones in an array of different settings that suit their partner’s taste in style, color, and price.

The Dress

Such a big one! Many of us dream about our wedding dress from the time we are old enough to play dress up and others could be happy wearing sweats as long as in the end they are married to the person of their dreams. Here are some great ideas to consider that will make everyone happy and save some extra money for the honeymoon!

Clever Girl

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Companies know that they can price wedding dresses at the prices they do and people will pay them. That same dress in another color would be sold for much less. One way to get around the wedding dress price tag is to order a bridesmaid dress in white. The price of wedding dresses and bridesmaid’s dresses differ drastically in price and no one will be the wiser.

Rent

A lot of women want to keep their dress after the wedding as a souvenir or to be able to hand down to future children. If this is not your thing, renting is a great option. You can get the dress of your dreams and give it back after your big day saving yourself potentially thousands.

Preowned

Preowned gowns are another alternative to buying a new gown at full price and if keeping the gown is something that is important to you, you can! The only person who will know that it is preowned is you and if it is the one, by all means make that happen and do it without spending three months salary or putting it on credit. Remember these can be altered as well. See a gown you love but want some extra length, a longer tail, or need it taken in a bit? These things can all be done and the dress can still be under budget.

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The Cake (and Food)

Depending on if you foresee your wedding being the social event of the year or if it will be a handful of family and friends, here are some clever and rather fun ideas for getting exactly what you want while continuing to make smart, thrifty decisions financially.

Fake It Till You Make It

Another one of the things that have become a staple of the wedding ceremony has been an extravagant wedding cake. There is a company that realized that having the extravagant cake is not always cost effective for the bride and groom. They help you fake the cake. Instead of paying out of pocket for a massive cake, half of which will most likely go to waste, you rent a beautiful display cake for the reception, and the caterers serve much less expensive sheet cake from the kitchen. Clever and cost effective.

Potluck Wedding

For a smaller wedding with just close friends and family, a potluck wedding dinner is a great idea. Not only does it cut the cost of a caterer but it makes everyone feel included. Make sure you or one of your bridesmaids have delegated dishes so that you don’t end up with all desserts or a few of the same dish.

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The Venue

When it comes to choosing a venue the prices range substantially depending on many different factors. Choosing a venue that is not typically a traditional wedding venue is one big way to cut costs. Getting married in the “off” season also contributes to lower prices. Other ways to curb costs are to stock your own bar and stick with beer and wine. Just don’t get married where you have to bring in everything- chairs, tables, etc. The cost and stress of having to supply those things are not worth it. Lastly and probably most importantly, if getting wedding gifts isn’t that important to you, asking those invited to contribute to the cost of the wedding is a great way to go. There are several sites online that make this easy for people to do. The bride and groom sign up, set up the account, and share the link that allows people to contribute electronically making it easy on everyone.

Flowers/Music/Photos

With the flowers, the music, and the wedding photography, going local is the best way to get quality work without paying the big business or wedding planner prices. The small local florist is not going to charge what the large wedding company will, the talented driven local photographer isn’t going to charge what the established wedding photographer will, and the young local DJ isn’t going to charge what the self-proclaimed wedding DJ that was referred will. Definitely do your homework and check portfolios but there are many talented people who are capable of doing the job at a much lower price. Another way to look for the photographer and DJ is through local music schools and universities. With the flowers and floral arrangements you would be surprised what you can get online, delivered right to your door. Shopping online for your wedding flowers is another affordable choice.

Plan Plan Plan

When setting your budget, focus on your priorities and work from there. Planning your own wedding can be quite stressful but often the most rewarding. Being able to make sure things are as you envisioned- or close enough- is exciting. It is also quite a task and can become stressful. Set things in motion and let your bridesmaids and those around you know what you need. When people offer to help, let them.

I think what it comes down to when looking to make this day as memorable as possible for everyone involved (without going into debt) is creating an event that is completely original to you and your partner. Think outside of the box and start your journey together savvy and saving for your future.

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Published on July 4, 2018

Top 10 Recommendations on Money Management Apps

Top 10 Recommendations on Money Management Apps

Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

The solution is simple, save more and spend less. But, we all know it’s easier said than done.

One problem is finding quality apps that save you time and money, and aren’t just hype.

Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

1. Personal Capital

    When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

    Here are some of its main features:

    • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
    • Discover hidden fees and how much they’re affecting your retirement plan
    • Wealth management for investors requiring a long-term strategy

    With Personal you’re free to track your expenses and net worth.

    Available for: iOS and Android

    2. Mint

      If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

      Here are some of its main features:

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      • Effortlessly track all your bills and balances in one dashboard
      • Categorized expenses to understand where you spend your money
      • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

      Feel at ease with managing your money by a reputable company that isn’t going anywhere.

      Available for: iOS and Android

      3. YNAB

        Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

        Here are some of its main features:

        • Easily sync all bank accounts in one place
        • Visually see your debt paying progress with eye-catching charts and notifications
        • Customized categories setting saving goals

        The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

        Available for: iOS and Android

        4. Wealthfront

          Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

          Here are some of its main features:

          • Variety of investment account options including IRA, Roth IRA, and more
          • Your portfolio composed of 7 different asset classes
          • Automatically rebalanced portfolio
          • Daily tax loss harvesting

          Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

          Available for: iOS and Android

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          5. Clarity Money

            If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

            Here are some of its main features:

            • Easily cancel subscriptions with one click
            • Synchronize bank accounts fast
            • Transfer money effortlessly between different accounts

            Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

            Available for: iOS and Android

            6. Acorns

              What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

              Here are some of its main features:

              • Automatic contribution option
              • Customized portfolio tailored to your needs
              • Low management fees ranging from $1-$2 per month

              Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

              Available for: iOS and Android

              7. Albert

                Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                Here are some of its main features:

                • Receive notifications for overpayments, hidden fees, and low balances
                • An Automatic budget that’s built around your spending and income
                • Easily track debt and set new financial goals

                While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                Available for: iOS

                8. Prism

                  Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                  Here are some of its main features:

                  • View all your account balances in one glance
                  • Bill due dates are automatically pulled and tracked
                  • Receive early reminders for upcoming bills

                  If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                  Available for: iOS, Android, Windows, Amazon

                  9. Mvelopes

                    Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                    Here are some of its main features:

                    • Connect unlimited bank accounts
                    • Real-time budgeting with auto transaction syncing
                    • Low monthly $4 fee or $40 annual

                    Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                    Available for: iOS and Android

                    10. Wallaby

                      Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                      Here are some of its main features:

                      • Automatic recommendations for the best credit card to use for each transaction
                      • A friendly user interface, displaying credit cards with their corresponding images
                      • Free to use

                      If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                      Available for: iOS and Android

                      Take control of your finances and experience financial freedom

                      Picture yourself staying on budget and saving more money than you’d ever imagined.

                      It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                      You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                      Featured photo credit: Pexels via pexels.com

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