Advertising
Advertising

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

Advertising

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

Advertising

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.

Advertising

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.

Advertising

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.

More by this author

6 Tips For Creating Your Dream Job 5 Truly Haunted Places Worth Visiting This Halloween The Thrifty Bride’s Guide to Wedding Planning 5 Reasons Why Internships Are as Important as Your Degree Kids Hygiene: Top 4 Ways I Was Able to Make it Fun Again

Trending in Budget Activity

1 6 Easy Ways to Treat Yourself 2 Seven Tips to Save Money While Renovating Your Home 3 4 Ways to Make Every Penny Stretch in 2017 4 Getting Out of Debt in 4 Simple Steps 5 10 Amazon Review Sites That Will Get You Really Good Deals

Read Next

Advertising
Advertising
Advertising

Last Updated on July 20, 2021

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?

Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.

Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.

In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.

Break Free of Your Finances

Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.

When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.

Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.

Though it seems hard to believe, it is really very simple to get financial freedom.

To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.

While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.

Advertising

Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.

1. Stop Unnecessary Spending

We often spend money inwardly, instead of objectively.

For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.

To stop this habitual spending, log down all your spending over the course of a month.

Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?

This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.

2. Plan a Monthly Budget

This is a great opportunity to get serious.

Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.

Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.

3. Cut-up Credit Cards

Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.

Advertising

If not, you may want to consider ridding your life of the burden that credit cards bring.

Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!

Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).

4. Increase Savings

There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.

It’s good practice to save up to 15% of your income.

Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.

Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]

5. Invest Wisely

Consider investing in funds.

Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.

To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.

Advertising

Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.

6. Invest in Gold

There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.

You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.

Another way to invest in gold is through ETFs (Exchange Traded Funds).

These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.

With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.

7. Stash Emergency Funds

Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.

If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.

Make it hard to get your cash.

Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.

Advertising

8. Find Fabulous Mentors

Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.

If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.

There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.

9. Be Extra Patient

Patience is the key of financial success.

Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.

So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.

Financial Freedom for All

Anyone can achieve financial freedom, regardless of their financial circumstance.

Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.

Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!

Featured photo credit: rawpixel via unsplash.com

Advertising

Reference

[1] Hartford Gold Group: IRA Retirement Accounts

Read Next